Business · Companies · 45 mins ago
Tesla revenue tops forecasts as third-quarter profit falls 43%
Tesla reported its third-quarter results for July through September 2026, with revenue of $28.05 billion.
Revenue slightly exceeded analysts’ average forecast, but was nearly unchanged from a year earlier.
Net profit fell 43% to $787 million, while automotive revenue declined 3% to $20.6 billion.
Tesla delivered 486,532 vehicles, 2% fewer than a year earlier, though deliveries exceeded production and reduced inventory.
The company is investing heavily in AI, robotics and robotaxis, while its energy business is also growing; these efforts add costs as it faces competition and weaker vehicle sales.
Tesla and SpaceX have appointed committees to examine a possible combination, but Elon Musk said a deal is not certain; Tesla also plans to expand its robotaxi service and is seeking wider approval for its driver-assistance system.
Tesla reported third-quarter revenue of about $28.05 billion, above the average analyst forecast cited by LSEG.
Net profit fell sharply from a year earlier, though reports differed on the amount: CNN Brasil put it at $787 million, while El Mundo reported $804 million.
Vehicle deliveries were 486,532, down 2% from the same quarter last year.
Tesla said adjusted earnings were 48 cents per share, above the estimates cited by Hankyung and CNN Brasil.
The company’s capital spending more than doubled year on year as it invested in artificial intelligence and robotics.
- Who
- Tesla, the US electric vehicle company.
- What
- It reported third-quarter revenue of about $28.05 billion, while profit and deliveries fell year on year.
- When
- The quarter ended September 30, 2026; Tesla announced the results on October 21.
- Where
- Tesla is based in Austin, Texas. The results cover the company’s global operations.
- Why
- Revenue was supported by vehicle deliveries and growth in some non-vehicle businesses, while higher investment in AI and robotics added to costs.
This story does not have two clearly opposing sides.
Tesla began robotaxi operations in Dallas and Houston, according to Independent and El Mundo.
Tesla launched unsupervised robotaxi services in Miami, Orlando and Tampa, according to Independent and El Mundo.
Musk said Tesla and SpaceX had appointed special committees to examine a possible deal, according to Independent.
Tesla reported its results for the quarter ended September 30.
- Revenue
- $28.05 billion
- LSEG average revenue forecast
- $27.88 billion
- Vehicle deliveries
- 486,532, down 2% year on year
- Adjusted earnings per share
- $0.48
- Capital spending
- $4.73 billion, more than double the prior-year figure
14 sources
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What people are saying
This is definitely kind of a question where I feel like I’m tap dancing through a minefield, but I do think there’s a lot of merit to combining the companies