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Tesla Q3 2026: flat revenue at $28.0B, operating income down 56%
Tesla reported net income of $1.7 billion on $28.0 billion in revenue for the third quarter of 2026, ending in September, above the $27.9 billion Wall Street expected according to LSEG. Revenue is practically flat compared with $28.1 billion in Q3 2025, and deliveries fell 2.1%. Automotive revenue fell 3% to $20.5 billion; energy generation and storage fell 16% to $2.9 billion; services and other revenue rose 33% to $4.6 billion. Operating income fell 56% to $718 million.…
- Revenue of $28.0B, nearly flat versus $28.1B in Q3 2025.
- Operating income falls 56% to $718 million.
- Capex rises 110% to $4.7B; $13B spent in the first three quarters.
🔎 Why it matters: The 3% drop in automotive revenue ($20.5 billion), after the expiration of the $7,500 federal tax credit on September 30, 2025, together with the 56% decline in operating income ($718 million), points to pressure on Tesla's core vehicle business.
📈 Upside: Services and other revenue rises 33% to $4.6 billion, the most notable gain of the quarter according to the article.
📉 Risk: With $4.7 billion in capex this quarter and $13 billion across the first three, Tesla could fall short of the at least $25 billion annual spending target Musk announced.
🤖 Editorial summary of the cited source, with AI-assisted analysis -- not HgYperDrive original reporting. The original source is linked above for verification. More on how this works: editorial policy →