🔹 Revenue: $28.10B (Est. $26.20B) 🟢; UP +12% YoY
🔹 Adj. EPS: $0.50 (Est. $0.54) 🔴; DOWN -31% YoY
🔹 Operating Income: $1.62B (Est. $1.65B) 🟡; DOWN -40% YoY
🔹 Gross Margin: 18.0% (Est. 17.2%) 🟢; -185 bps YoY
🔹 Free Cash Flow: $3.99B (Est. $1.25B) 🟢; UP +46% YoY
🔹 Operating Cash Flow: $6.24B; Flat YoY
🔹 Cash & Investments: $41.6B; UP +24% YoY
Operational Highlights
🔹 Vehicle Deliveries: 497,099; UP +7% YoY
🔹 Energy Storage Deployed: 12.5 GWh; UP +81% YoY
🔹 Supercharger Connectors: 73,817; UP +18% YoY
🔹 Record energy storage deployments and record vehicle deliveries globally.
Segment:
🔹 Automotive Revenue: $21.21B; UP +6% YoY
🔹 Energy Generation & Storage Revenue: $3.42B; UP +44% YoY
🔹 Services & Other Revenue: $3.48B; UP +25% YoY
🔹 Energy Storage Gross Profit: Record $1.1B
Guidance & Outlook
🔸 Maintains strong liquidity to fund long-term roadmap and capacity expansion.
🔸 Sees hardware profits gradually complemented by AI, software, and fleet-based earnings.
🔸 Cybercab, Tesla Semi, and Megapack 3 on track for 2026 volume production.
🔸 Optimus humanoid robot production lines being installed ahead of volume phase.
CEO Commentary
🔸 “We achieved record deliveries and free cash flow despite global uncertainty.”
🔸 “New products like Model YL and Megapack 3 broaden our market reach.”
🔸 “Our AI-powered products—from Robotaxi to energy storage—are positioned to generate increasing value over time.”