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Tesla (TSLA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 22, 2026
Tesla (TSLA) reported revenue of $28.0B for the third quarter 2026 (Q3 2026), -0.2% from a year earlier and -0.7% from the quarter before. Operating margin was 2.6%, net earnings $804M (2.9% of revenue).
Tesla, Q3 2026: revenue $28.0B (-0.2% year over year), operating margin 2.6%, net earnings $804M, operating cash flow $6.3B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.0B | -0.7% | -0.2% |
| Gross profit | $5.5B | +16% | +9% |
| Operating profit | $718M | +80% | -56% |
| Net earnings | $804M | -29% | -42% |
| Operating cash flow | $6.3B | +33% | +0.4% |
| Free cash flow | $1.5B | — | -62% |
What changed
Revenue was $28.0B in Q3 2026, roughly flat year over year and down 1% from the previous quarter. Automotive sales was the largest line at 72% of revenue. Energy generation and storage sales lost $0.54B year over year (down 16%), 1094% of the total change.
Gross margin was 19.6%, up 1.6 points from Q3 2025. Operating profit was $0.72B, a 2.6% margin (down 3.2 points year over year). Operating expenses grew 39% against flat revenue. The fastest-growing cost line was Research & development (+69%). Net earnings were $0.79B, down 43% year over year. The effective tax rate was 15.9%. Non-operating items added $0.24B, 25% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.3B (roughly flat year over year), 779% of net income including minority interests. Non-cash charges added back $1.6B of depreciation and $1.2B of share-based compensation. Working capital and other items added $2.7B. Capital expenditures of $4.7B left free cash flow of $1.5B.
Questions
What was Tesla's revenue in the third quarter 2026?
Tesla (TSLA) reported revenue of $28.0B for the third quarter 2026 (Q3 2026), -0.2% from a year earlier and -0.7% from the quarter before.
Was Tesla profitable in the third quarter 2026?
Operating profit was $718M (2.6% of revenue) and net earnings $804M.
Source: Tesla 10-Q on SEC EDGAR.