Tesla Q2 2026 Earnings Miss Profit Estimates, Stock Falls on $25B Capex Plan
Tesla reported mixed Q2 2026 results on July 22-23, with revenue of $28.24B beating estimates but adjusted EPS of $0.33 missing the $0.50 consensus. Shares fell up to 14% on the profit miss and confirmation of over $25B in capital expenditures for Optimus robots, AI data centers, and Cybercabs. Deliveries hit a record 480,126 vehicles (up 25% YoY), and robotaxi service expanded to seven U.S. metro areas. CEO Elon Musk called 2026 a "massive capex year" and addressed potential SpaceX merger speculation.
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Tesla Q2 2026 Earnings: Revenue Beats Estimates, Profit Misses Wall Street Forecasts
Tesla reported Q2 2026 revenue of $28.24 billion, up 26% year-over-year and beating analyst estimates of $25.71 billion. However, adjusted earnings per share of $0.33 fell well below the $0.51 expected, causing shares to drop nearly 3% in after-hours trading. GAAP net income fell 5% to $1.11 billion, while operating income plunged 57% to $398 million with operating margin narrowing to 1.4%. Automotive revenue rose 23% to $20.52 billion, and the company delivered a record 480,126 vehicles, far exceeding analyst expectations. Active Full Self-Driving subscriptions reached 1.48 million, up 56% year-over-year. Tesla announced Cybercab production began at Gigafactory Texas and its robotaxi service now operates in seven major metro areas. Capital expenditures surged 142% to $5.79 billion due to AI infrastructure spending, resulting in a free cash flow deficit of $1.09 billion. The company crossed $100 billion in trailing twelve-month revenue for the first time.
Tesla Q2 Earnings Miss as Margins Shrink, Shares Fall
Tesla reported second-quarter 2026 revenue of $28.24 billion, beating the $26.32 billion estimate and up 26% year-over-year. However, adjusted earnings per share of $0.33 missed the $0.51 forecast, down 18% from a year earlier, sending shares down about 3.4% after hours. Gross margin fell to 16.8% against expectations of 19.4%, while automotive gross margin excluding regulatory credits dropped 310 basis points to 16.3%. Operating margin was 1.4%, well below the 5.4% estimate. Automotive revenue rose 23% to $20.52 billion, but energy revenue of $3.14 billion fell short. Deliveries increased 25% to 480,126 vehicles, and production rose 10% to 451,758 units. Operating income plunged 57% to $398 million, while GAAP net income fell 5% to $1.11 billion, helped by a $1.01 billion unrealized gain on its SpaceX stake. Capital expenditures surged 142% to $5.79 billion, and free cash flow was negative $1.09 billion. On autonomy, Tesla said cybercab production has started at Gigafactory Texas, robotaxi service now spans seven US metro areas, and FSD subscriptions rose 56% to 1.48 million. Optimus production lines are being installed, with output expected in 2026. No new numerical guidance was provided.
Tesla Stock Slides After Mixed Q2 Earnings with $25 Billion Capex Spending Planned
Tesla (TSLA) stock fell over 6% in premarket trading on July 23, 2026, after reporting mixed second-quarter results. Revenue of $28.24 billion beat expectations of $26.32 billion, up 26% year-over-year, but adjusted EPS of $0.33 missed the $0.50 estimate. Adjusted EBITDA came in at $3.2 billion versus $4 billion expected. Free cash flow burn was -$1.09 billion, better than the -$3.64 billion forecast. CEO Elon Musk confirmed 2026 would be a 'massive capex year' with over $25 billion in capital expenditures planned for Optimus humanoid robot production, AI data center build-out, and Cybercab ramp-up. Tesla reported Q2 deliveries of 480,126 vehicles, up 25% year-over-year, and energy storage deployments of 13.5 GWh. Full self-driving subscriptions reached 1.48 million, up 56% from a year ago. Robotaxi service expanded to seven metro areas including Miami, Orlando, and Tampa.
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Tesla stock tumbles 14% after profit miss; full-year capex spend of $25 billion confirmed
Tesla (TSLA) shares fell 14% on Thursday after the company reported mixed second-quarter results that missed Wall Street earnings expectations. Revenue came in at $28.24 billion, above the $26.32 billion consensus, but adjusted earnings per share of $0.33 missed the $0.50 estimate. Adjusted EBITDA was $3.2 billion versus $4 billion expected. Free cash flow burn continued at -$1.09 billion, though less than the -$3.64 billion forecast. Tesla confirmed full-year capital expenditures would exceed $25 billion, driven by spending on Optimus humanoid robot production, AI data center build-out, and Cybercab ramp-up. The company noted Optimus production remains on track for later this year and that its Robotaxi service has expanded to seven major metro areas, including Austin, Miami, Orlando, and Tampa. Full self-driving active subscriptions rose 56% year-over-year to 1.48 million. Analysts expressed concerns about near-term challenges including tariffs, loss of tax credits, and the timing of returns on physical AI investments.
Tesla Stock Tumbles 10% After Q2 Profit Miss; $25 Billion Capex Confirmed
Tesla (TSLA) shares fell over 10% in early trading on July 23, 2026, after the company reported mixed second-quarter results that missed Wall Street profit expectations. Revenue came in at $28.24 billion (above the $26.32 billion estimate), but adjusted EPS of $0.33 fell short of the $0.50 consensus. Adjusted EBITDA was $3.2 billion versus $4 billion expected. Free cash flow burn was -$1.09 billion, better than the -$3.64 billion forecast. Tesla confirmed full-year capital expenditure of more than $25 billion, driven by investments in Optimus humanoid robot production, AI data centers, and Cybercab ramp-up. The company also reported progress on its robotaxi service, expanding to seven metro areas, and noted that Optimus production remains on track for later this year. CEO Elon Musk described 2026 as a 'massive capex year.'
Tesla Stock Slides After Q2 Profit Miss; Full-Year Capex of $25 Billion Confirmed
Tesla shares fell over 7% in premarket trading after the company reported mixed Q2 2026 results. Revenue of $28.24 billion beat expectations of $26.32 billion, up 26% year-over-year, but adjusted earnings per share of $0.33 missed the $0.50 consensus estimate. Adjusted EBITDA came in at $3.2 billion versus $4 billion expected. Tesla confirmed full-year capital expenditures would exceed $25 billion, driven by investments in Optimus humanoid robot production, AI data centers, and Cybercab ramp-up. The company reported Q2 deliveries of 480,126 vehicles, up 25% year-over-year, and energy storage deployments of 13.5 GWh. Robotaxi service expanded to seven major U.S. metro areas, and full self-driving subscriptions rose 56% to 1.48 million. CEO Elon Musk noted 2026 would be a 'massive capex year' and addressed speculation about a potential merger with SpaceX, saying it would require proper process.
Elon Musk Has Mojo Back, As Tesla Quarterly Deliveries Skyrocket
Tesla reported Q2 2026 deliveries of 480,126 vehicles, a 25% year-over-year increase and the best Q2 in company history, significantly beating Wall Street estimates of around 406,000. Despite the strong delivery numbers, Tesla shares initially fell 7.5% on a 'sell the news' reaction before stabilizing. Analysts are increasingly focusing on Tesla's physical AI and robotics ambitions, with UBS raising its price target to $442 and JPMorgan calling a potential SpaceX merger 'strategically coherent.' Tesla plans $25 billion in capital expenditures this year for Optimus robots and autonomous Cybercabs, triple last year's outlay. The company is set to report Q2 financials on July 22, 2026.