Tesla Q3 2026: revenue flat at $28.0B, GAAP EPS $0.22 vs $0.39; operating income falls 56% to $718M

Tesla, Inc.

Total revenue $28.05B, roughly flat YoY: automotive $20.56B, energy storage $2.88B (down from $3.42B on tariff-related customer refunds), services $4.61B.
GAAP net income $787M ($0.22 diluted EPS) vs $1.37B ($0.39) a year ago; non-GAAP EPS $0.48 vs $0.50; operating margin fell 322 bp YoY.
Deliveries 486,532 (-2% YoY) on 464,391 produced (+4%); regulatory credit revenue fell to $113M from $417M; R&D rose to $2.76B from $1.63B.
Cybercab entered the Robotaxi fleet in Austin on Sept 3; ~2M cumulative unsupervised miles, up 8x QoQ; active FSD subscriptions 1.74M vs 1.04M.
Megafactory Texas (50 GWh) began production, Tesla Semi volume production started in Nevada and Optimus in Fremont; cash $45.4B, free cash flow $1.53B.

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