The American electric vehicle manufacturer Tesla reported a 26% increase in revenue for the second quarter of 2026, although its net profit fell by 5%:
During the reporting period, the company's revenue reached $28.24 billion, compared to $22.5 billion in the same period last year. Analysts surveyed by LSEG had forecasted an average of $25.71 billion:
Tesla's net profit decreased from $1.17 billion last year to $1.11 billion. Earnings per share fell from $0.33 to $0.32. Adjusted earnings were $0.33 per share, significantly below the consensus forecast of $0.51:
Revenue from the automotive segment increased by 23%, reaching $20.52 billion, while revenue from energy production and storage rose by 13% to $3.14 billion, and revenue from services surged by 50% to $4.58 billion:
In the last quarter, the company's electric vehicle deliveries grew by 25% compared to the same period last year, totaling 480,126 vehicles. Production volume increased by 10%, reaching 451,758 vehicles:
Tesla's operating expenses rose by 47%, reaching $4.35 billion, amid significant investments in artificial intelligence and other research and development areas. The operating profit margin decreased from 4.1% last year to 1.4%:
The Chief Financial Officer warned that operating expenses will continue to rise in 2026 and beyond. He noted that rising raw material prices and changes in interest rates are impacting the company's costs:
Tesla's capital expenditures in the second quarter increased 2.4 times, reaching $5.8 billion, resulting in the company recording a negative free cash flow of -$1.1 billion for the first time in two years. In April, the company raised its annual capital investment plan to $25 billion:
Since the beginning of 2026, Tesla's market capitalization has decreased by 16.8%:
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