Latest quarter
Tesla reported Q2 FY2026 revenue of $28.2 billion, compared with $22.5 billion in Q2 FY2025, a 25.5% increase. Tesla’s available consensus measures apply to the quarter to September 30, 2026 rather than Q2 FY2026, so the company did not provide a comparable Q2 revenue or adjusted-EPS outcome against the consensus in the available information.
Tesla reported Q2 FY2026 diluted EPS of $0.32, versus $0.33 a year earlier, while net income was $1.1 billion compared with $1.2 billion. Tesla reported services revenue of $4.6 billion in Q2, up 33%. Tesla’s gross margin was 16.8%, compared with 17.2%, and its operating margin was 1.41%, compared with 4.10%. Tesla reported operating cash flow of $4.7 billion, versus $2.5 billion a year earlier, while free cash flow was −$1.1 billion compared with $146.0 million. Tesla did not provide company guidance for Q2 FY2026 in the available information, so the quarter cannot be compared with its own outlook.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $28.2 billion | $22.5 billion | 25.5% |
| Diluted EPS | $0.32 | $0.33 | −3.03% |
| Gross margin | 16.8% | 17.2% | −0.4 percentage points |
| Operating margin | 1.41% | 4.10% | −2.7 percentage points |
| Free cash flow | −$1.1 billion | $146.0 million | −852.7% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $0.48 | $0.45 | Beat by 6.67% |
| Revenue | $28.0 billion | $27.8 billion | Beat by 0.96% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
Tesla did not have an earnings call available for this page, so no call commentary from management is available on demand, pricing, margins, investment, competition or the quarter ahead. Tesla therefore did not provide analyst questions or management responses on the latest call in the available information.
Guidance
Tesla did not provide management guidance in the available information. As a result, Tesla did not disclose any changed outlook, withdrawn target or call-based guidance for comparison with a previous company guide.