Tesla stated it earned $477 million in internet earnings on $22.4 billion in income within the quarter that resulted in April 2026. That’s a 16 % enhance in income and a 17 % enhance in earnings over the primary quarter of 2025, when the corporate earned $409 million in internet earnings on $19.3 billion in income. Tesla missed income expectations from Wall Avenue, which assumed roughly $22.64 billion in income.
As a part of the earnings replace deck, Tesla stated that preparations for its first “large-scale” manufacturing unit to construct its Optimus robots will start in Q2. “The primary-generation line, designed for 1 million robots a yr, will exchange the Mannequin S and Mannequin X strains in Fremont,” Tesla stated. Gigafactory Texas will host the second-generation line, “which is being designed for long-term annual manufacturing capability of 10 million robots.” Following Musk’s announcement in January that Tesla was “restarting work” on its Dojo 3 supercomputer — which Musk famous on the time can be “space-based AI compute” — the earnings replace deck stated that Tesla is “persevering with” its work on the undertaking.
The primary quarter of the yr appeared to supply a glimmer of hope when Tesla reported a modest 6 % enhance in gross sales yr over yr. But it surely’s a deceptive comparability contemplating gross sales in Q1 2025 have been artificially depressed because of meeting line shutdowns for the Mannequin Y “Juniper” refresh. The primary quarter of 2025 additionally coincided with Musk’s management of DOGE, his Nazi salute at President Trump’s inauguration, and the primary Tesla Takedown protests.
The previous three months have been a sequence of ups and downs for Tesla. The corporate launched a robotaxi service in Dallas and Houston, however the service gave the impression to be principally unavailable as a result of lack of autos. The Netherlands formally accredited Tesla’s Full Self-Driving (FSD) Supervised, making it the primary European nation to authorize using the corporate’s Stage 2 superior driving help system on its roads. And Tesla appeared to provide you with an answer for cratering Cybertruck gross sales: promote the polarizing electrical truck to Elon Musk’s personal firms.
After all, Tesla isn’t as into promoting autos as it’s creating AI and humanoid robots. The corporate discontinued its Mannequin S and Mannequin X autos to make room at its manufacturing unit for manufacturing of its Optimus robotic. And the Cybercab, the corporate’s two-seater autonomous automobile, has been noticed out on the street — albeit with a steering wheel.
That’s led many Tesla watchers to imagine that Musk has misplaced curiosity in promoting vehicles, despite the fact that the huge quantity of his firm’s revenues nonetheless comes from automotive gross sales. Notably, there was a current Reuters report that Tesla was creating a brand new, extra reasonably priced electrical SUV, after having canceled an analogous plan two years in the past.

