Tesla Q3 2026 earnings beat, revenue flat
Tesla posted a Q3 earnings beat while revenue stayed flat, with automotive sales down and services revenue up.
Key facts
- Tesla reported Q3 revenue flat at about $28B, above Wall Street expectations of $27.9B.
- Automotive revenue fell 3% year over year to roughly $20.5B.
- Services and other revenue rose 33% to about $4.6B.
- Net income fell 29% to $787M per Tesla’s filing, but a separate report lists $1.7B.
- Capital expenditures rose over 100% year over year to $4.7B, with Tesla’s filing citing $3.73B.
Tesla announced a Q3 earnings beat, reporting revenue flat at roughly $28B, which exceeded Wall Street expectations of $27.9B, according to CNBC and The Verge.
Automotive revenue declined 3% year over year to about $20.5B, while energy revenue fell 16% to $2.9B. Services and other revenue increased 33% to $4.6B, offsetting some declines.
Net income fell 29% to $787M per Tesla’s filing, but The Verge reported $1.7B, indicating a 4% profit drop versus the prior year. The discrepancy reflects different reporting dates and sources.
Capital expenditures rose more than 100% year over year to $4.7B per The Verge, while Tesla’s filing cited $3.73B. Free cash flow fell 62% to $1.5B, and CEO Elon Musk said a merger with SpaceX would be a good idea.
Context
Tesla’s flat revenue and declining automotive sales are linked to the expiration of the $7,500 federal tax credit for electric vehicles on September 30, 2025, and other macroeconomic factors, as noted by Elon Musk.
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How this was made
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