Tesla: Net profit fell 43% in third quarter — Electrek
Tesla released its financial results for the third quarter of 2026: net income attributable to common stockholders under GAAP amounted to $787 million, down 43% from the same period in 2025. The company’s total revenue was nearly unchanged at $28.046 billion, compared with $28.095 billion a year earlier, Electrek reports. In its report, Tesla also announced manufacturing projects in the United States.
Financial indicators
Tesla’s operating income declined by 56% year-on-year to $718 million. Operating margin was 2.6%, compared with 5.8% in the third quarter of 2025. GAAP diluted earnings per share fell by 44% to $0.22.
Gross profit increased by 9% to $5.494 billion, while gross margin rose from 18% to 19.6%. Operating expenses increased by 39% to $4.776 billion. Free cash flow amounted to $1.531 billion, while capital expenditures rose by 110% to $4.732 billion.
Deliveries and manufacturing projects
Between July and September, Tesla produced 464,391 vehicles, up 4% year-on-year, and delivered 486,532 vehicles to customers, 2% fewer than a year earlier. Deliveries of the Model 3 and Model Y declined by 1% to 478,237 units. Deliveries of other models fell by 48% to 8,295 vehicles.
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The company’s automotive revenue decreased by 3% to $20.56 billion. Revenue from energy generation and storage fell by 16% to $2.881 billion, while the services and other segment grew by 33% to $4.605 billion.
The company announced the start of mass production of the Tesla Semi electric truck in Nevada and the start of production of the humanoid robot Optimus in Fremont, California. Tesla also reported the launch of production at Megafactory Texas, designed to manufacture Megapack energy storage systems with a planned capacity of 50 GWh.
In Austin, Tesla began using Cybercab in its robotaxi fleet. According to the company, by the end of the quarter, the robotaxi service had traveled nearly 2 million miles without driver supervision. Tesla separately noted that FSD Supervised requires active driver monitoring and does not make the vehicle autonomous.
