Tesla posts record Q2 2026 revenue but misses on profit; revenue reaches $28.2 billion

Tesla released its second-quarter 2026 financial results on Wednesday, July 22, 2026, after the close of Wall Street trading. Revenue rose 26% from a year earlier to a record $28.24 billion, beating analyst estimates of about $25.7 billion. The company delivered 480,126 vehicles in the quarter, up 25% and a quarterly record.

Profitability, however, came in below expectations. Adjusted earnings were $0.33 per share, short of the roughly $0.50 analysts expected and down about 18% year over year. GAAP operating income fell 57% to about $398 million, and the operating margin narrowed to 1.4%. Tesla attributed the pressure on profit to higher research and AI spending, lower vehicle prices, and fewer regulatory credits. Tesla shares fell about 3% in after-hours trading on Wednesday.