Tesla reports Q1 2026 earnings: Still profitable
Summary
Tesla reported its first-quarter 2026 financial results, showing a profit of $477 million and revenue of $22.4 billion. Sales grew by 6 percent compared to the same period last year, with automotive and service revenues increasing, while the energy storage division saw a decline.Key Facts
- Tesla's net income for Q1 2026 was $477 million.
- Total revenue rose 16 percent year over year to $22.4 billion.
- Automotive revenue was $16.2 billion, up 16 percent from last year.
- Service and other revenues, such as Supercharger fees, increased by 42 percent.
- Revenues from the energy storage business dropped 12 percent to $2.4 billion.
- Operating margin was 4.2 percent, better than the previous year but lower than earlier high margins.
- Tesla earned less from regulatory credits ($380 million) and leasing compared to Q1 2025.
- CEO Elon Musk’s compensation partly depends on full self-driving subscriptions, which grew to 1.3 million, a 51 percent increase.
- Tesla plans to build humanoid Optimus robots, starting production capacity expansion in Fremont in Q2 2026.
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