Tesla reported record Q2 2026 revenue of US$28.24 billion, up 26% year over year, driven by a record 480,126 vehicle deliveries. The result lifted the company’s trailing 12-month revenue above US$100 billion for the first time.
Automotive revenue rose 23% to US$20.5 billion, while Energy Generation and Storage revenue increased 13% to US$3.14 billion. Services and Other revenue climbed 50% to US$4.58 billion.
Despite stronger sales, profitability weakened as investment in AI, manufacturing and new products accelerated. Operating income fell 57% to US$398 million, while operating expenses increased 47% and capital expenditure jumped 142% to US$5.79 billion. Free cash flow declined to negative US$1.09 billion.
Tesla also confirmed Cybercab has entered production at Gigafactory Texas, while production of the Tesla Semi remains scheduled for Nevada later this year. The company continues expanding battery, semiconductor and robotics manufacturing, including production lines for the Optimus humanoid robot.
The company said 1.48 million customers now subscribe to Full Self-Driving (FSD), with Robotaxi services expanding to Miami, Orlando and Tampa.
“Q2 was a strong quarter for our core vehicle, energy and services businesses as well as our manufacturing, infrastructure and AI initiatives.”
“Tesla is in its largest and most exciting period of investment. Scaling will be non-linear, and we are focused on long-term value creation.”
Source: EVMagz