Tesla Q2 Revenue Hits Record $28.24B, Operating Profit Plunges 57% Below Estimates

Tesla (TSLA) shares fell 1.30% to $374.01 as of 7:09 a.m. KST on July 23, as the company reported second-quarter revenue of $28.24 billion — a quarterly record — while operating profit plunged 57% year-over-year, according to an SEC Form 8-K filing.

📊 Price at Time of Writing (July 23, 2026, 07:09 KST)
$374.01 ▼ -1.30%

Q2 Results at a Glance

Tesla's second-quarter revenue came in at $28.24 billion, up 26% year-over-year and a new quarterly record. Trailing twelve-month revenue also topped $100 billion for the first time. Operating profit, however, came in at just $398 million, down 57% from a year earlier. Despite the revenue growth, rising costs sharply eroded profitability.

• Revenue: $28.24 billion, +26% YoY
• Automotive revenue: $20.52 billion, +23% YoY
• Operating profit: $398 million, -57% YoY
• Earnings per share (GAAP): $0.32, -3% YoY — below Wall Street estimates, according to media reports
• Net income (GAAP): $1.11 billion, -5% YoY
• Free cash flow (operating cash flow minus capital expenditures): -$1.09 billion, turning negative

Market Reaction

Bloomberg and the New York Times reported that Tesla's second-quarter profit fell short of Wall Street expectations, even as revenue set a quarterly record. Seeking Alpha noted that higher capital spending weighed on cash flow — Q2 capital expenditures jumped 142% year-over-year to $5.79 billion. As a result, Tesla's cash and short-term investments fell $1.2 billion from the prior quarter to $43.52 billion. Tesla shares were trading at $374.01 at the time of writing, down 1.30% from the previous close.

Revenue by Segment

• Automotive: $20.52 billion, +23% YoY
• Energy generation and storage: $3.14 billion, +13% YoY
• Services and other: $4.58 billion, +50% YoY, marking the segment's highest-ever profitability and margins

This article was automatically generated based on the original SEC Form 8-K filing and media reports, with the goal of quickly delivering key data immediately after the announcement. Readers are advised to consult the official filing before making trading decisions. The stock price reflects the time of writing and may differ from the current price.