
Tesla Q3 2026 Earnings: Gross Margin Rebounds to 19.6% While R&D Jumps 69%
Tesla's Q3 2026 gross margin rebounded to 19.6% on flat $28.05B revenue, but a 69% R&D jump cut operating income 56% and net income 43% to $787M.
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Financial analysis and earnings reports for Tesla, Inc (TSLA)

Tesla's Q3 2026 gross margin rebounded to 19.6% on flat $28.05B revenue, but a 69% R&D jump cut operating income 56% and net income 43% to $787M.

Tesla's Q2 2026 revenue rose 25.5% to $28.24 billion on 480,450 deliveries and a record 13.5 GWh of energy storage, yet operating income fell 57% to $398 million as R&D rose 49%, SG&A rose 45%, and regulatory-credit revenue dropped 67% to $146 million. A $1.0 billion unrealized gain on Tesla's SpaceX stake then lifted net income to $1.13 billion, nearly triple the operating result. Full income statement, balance sheet and FY2021-Q2 2026 history in a public Beancount ledger.

Tesla's Q1 2026 revenue reached $22.4 billion (+16% YoY) with automotive gross margin hitting a 5-quarter high of 19.2% ex-regulatory-credits, but a capex guidance raise to over $25 billion and a $2.0 billion SpaceX equity stake sent the stock down 3.56% despite the earnings beat. Full income statement and balance sheet, FY2021-Q1 2026, in a public Beancount ledger.