Q1 26 EPS
$0.41
BEAT +17.78%
Est. $0.35
Q1 26 Revenue
$22.39B
BEAT +0.85%
Est. $22.20B
vs S&P Since Q1 26
-24.7%
TRAILING MARKET
TSLA -15.5% vs S&P +9.1%
Market Reaction
Did TSLA Beat Earnings? Q1 2026 Results
Tesla delivered a stronger-than-expected first quarter for fiscal 2026, posting non-GAAP EPS of $0.41 against a consensus estimate of $0.36, a 14.14% beat, while revenue of $22.39 billion edged past estimates by 0.18% and grew 15.8% year-over-year. T… Read more Tesla delivered a stronger-than-expected first quarter for fiscal 2026, posting non-GAAP EPS of $0.41 against a consensus estimate of $0.36, a 14.14% beat, while revenue of $22.39 billion edged past estimates by 0.18% and grew 15.8% year-over-year. The standout driver behind the quarter's earnings strength was a sharp recovery in automotive gross margin, which expanded to 21.1% from 16.2% a year ago, benefiting from lower material costs, higher average selling prices, and one-time warranty and tariff-related gains. Services and other revenue surged 42% year-over-year to $3.75 billion, fueled by growing FSD adoption, with active subscriptions reaching 1.28 million. GAAP operating income rose 136% year-over-year to $941 million, even as R&D spending climbed to $1.95 billion reflecting Tesla's deepening investments in AI and autonomous driving. Looking ahead, the company expects Cybercab, Tesla Semi, and Megapack 3 to enter volume production in 2026, with Optimus robot production lines being installed at Fremont in anticipation of a significant manufacturing ramp.
Key Takeaways
- • Increase in vehicle deliveries (6% YoY)
- • Growth in Services and Other revenue (42% YoY)
- • Positive FX impact of approximately $0.9B on revenue
- • Higher vehicle average selling price including mix impact
- • Higher automotive ancillary sales driven by increased FSD sales and subscriptions
- • Lower average cost per vehicle due to lower material costs
- • Automotive one-time benefits related to warranty and tariffs
- • Active FSD subscriptions grew 51% YoY to 1.28 million
TSLA YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
TSLA Revenue by Segment
With YoY comparisons, source: SEC Filings
TSLA Earnings Trends
TSLA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TSLA EPS Trend
Earnings per share: estimate vs actual
TSLA Revenue Trend
Quarterly revenue: estimate vs actual
TSLA Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.54 | $0.33 | -38.51% | $28.24B | +7.10% |
| Q1 26 BEAT | $0.35 | $0.41 | +17.78% | $22.39B | +0.85% |
| Q4 25 BEAT FY | $0.45 | $0.50 | +10.77% | $24.90B | +0.56% |
| FY Full Year | $1.64 | $1.66 | +1.52% | $94.83B | +0.17% |
| Q3 25 MISS | $0.56 | $0.50 | -10.35% | $28.10B | +5.21% |
| Q2 25 MISS | $0.40 | $0.40 | -1.11% | $22.50B | +1.67% |
| Q1 25 MISS | $0.42 | $0.27 | -35.71% | $19.34B | -9.70% |
| Q4 24 MISS FY | $0.77 | $0.73 | -5.16% | $25.71B | -5.26% |
| FY Full Year | $2.48 | $2.42 | -2.47% | $97.69B | -1.85% |
| Q3 24 BEAT | $0.58 | $0.72 | +24.14% | $25.18B | -0.75% |
| Q2 24 MISS | $0.62 | $0.52 | -16.13% | $25.50B | +2.94% |