Tesla Q1: Profits Up
- Tesla beat profit expectations while missing revenue in its Q1 results. - Adjusted EPS rose about 51% year over year to roughly $0.41, and auto margins improved. - Management warned investors to expect a big spending increase tied to autonomy and AI ambitions (businessinsider.com).
Tesla reported Q1 2026 adjusted earnings per share of about $0.41, beating profit expectations even as revenue comparisons to forecasts varied. (ir.tesla.com) The company said Q1 revenue was $22.39 billion and non‑GAAP net income was about $1.5 billion, with adjusted EPS up roughly 51% year‑over‑year. (assets-ir.tesla.com) (assets‑ir.tesla.com, forbes.com) Tesla delivered 358,023 vehicles in Q1 2026, a 6% increase from a year earlier, but that total came in below some Wall Street delivery and production forecasts. (forbes.com) (forbes.com, teslarati.com) Tesla’s margins improved: automotive gross margin excluding regulatory credits was reported at about 19.2%, while total GAAP gross margin expanded to roughly 21.1% year‑over‑year. (cnbc.com) (cnbc.com, ) Executives warned investors they will sharply ramp investment in autonomy, artificial intelligence and robotics, with management saying 2026 capital expenditure will be “over $25 billion.” (bloomberg.com) (bloomberg.com, finance.yahoo.com) Tesla’s investor update said the company launched unsupervised Robotaxi rides in Dallas and Houston in April and began ramping additional AI compute, battery and battery‑materials capacity this quarter. (assets-ir.tesla.com) (assets‑ir.tesla.com) Market reaction was mixed: shares rose initially in after‑hours trading on the EPS and margin prints, then pared gains as investors digested the larger capex plan. (forbes.com) (forbes.com, bloomberg.com) CFO Vaibhav Taneja said the bigger 2026 investment program will likely push Tesla toward negative free cash flow for the remainder of the year. (finance.yahoo.com) (finance.yahoo.com, bloomberg.com)
