Companies /Consumer Cyclical

Tesla Inc

NASDAQ: TSLA Auto Manufacturers
$348.75
▼ $6.06 (−1.71%) today
Markets closed · 7:13pm ET

Q1 2026 Earnings

Reported Apr 22, 2026, 4:10pm ET · SEC source
$0.41
Beat +17.78%
EPS · est. $0.35
$22.4B
Beat +0.85%
Revenue · est. $22.2B
+10.1%
Beating market
TSLA vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−9%−6%−3%0Apr 22Apr 23report 4:10pm ETearnings−0.1%−7.9%
−9%−6%−3%0Apr 22Apr 23earnings−0.1%−7.9%
TSLA −7.9%S&P 500 −0.1%
−9%−6%−3%0Apr 22Apr 23report 4:10pm ETearnings−0.1%−7.9%
−9%−6%−3%0Apr 22Apr 23earnings−0.1%−7.9%
TSLA −7.9%NASDAQ −0.1%
−8%−4%0Apr 21Apr 30report 4:10pm ETearnings+1.3%−5.4%
−8%−4%0Apr 21Apr 30earnings+1.3%−5.4%
TSLA −5.4%S&P 500 +1.3%
−8%−4%0Apr 21Apr 30report 4:10pm ETearnings+2.0%−5.4%
−8%−4%0Apr 21Apr 30earnings+2.0%−5.4%
TSLA −5.4%NASDAQ +2.0%
−3.56%
Day of report
+0.69%
Next session
+2.12%
One week
+16.02%
30 days

S&P 500 over the same 30 days: +5.95%.

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. 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

Forward Guidance & Outlook

Tesla is focused on maximum factory capacity utilization, with deliveries and deployments impacted by aggregate demand, supply chain readiness, and allocation decisions between customer sales and fleet use. The company will maintain a strong balance sheet with sufficient liquidity to fund its product roadmap and long-term capacity expansion. Over time, hardware-related profits are expected to be accompanied by an acceleration of AI, software, and fleet-based profits. Cybercab, Tesla Semi, and Megapack 3 are on schedule for volume production starting in 2026. First-generation Optimus production lines are being installed in anticipation of volume production. Multi-year infrastructure buildouts including AI compute, solar, battery materials, and semiconductor manufacturing are underway.

TSLA YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$7.0B$14.0B$21.0B$19.3B$22.4BRevenue$3.2B$4.7BGross Profit$399.0M$941.0MOperating Income$409.0M$477.0MNet Income
$0$7.0B$14.0B$21.0BRevenueGross ProfitOperating IncomeNet Income

TSLA Revenue by Segment

Automotive Sales$15.5B+19.7%
Automotive
Services and Other$3.7B+42.0%
Energy Generation and Storage$2.4B−12.0%
Automotive Regulatory Credits$380.0M−36.1%
Automotive Leasing$381.0M−14.8%

Figures from SEC filings and company reports. Not investment advice.