Tesla posted higher revenue and earnings in the first quarter of 2026, while continuing to spend on AI, production capacity and autonomous transport.
Total revenue for the quarter increased 16% year-on-year to $22.38bn.
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Net income attributable to common stockholders climbed 17% to $477m.
Operating income reached $941m, up 136% from a year earlier, while operating margin stood at 4.2%.
The company said quarterly operating income improved mainly due to one-time automotive benefits tied to warranty and tariffs, stronger gross profit in services and other, and a higher average selling price for vehicles.
These gains were partly offset by higher operating expenses and lower regulatory credit revenue.
Adjusted EBITDA rose 30% to $3.66bn.
Vehicle deliveries during the quarter totalled 358,023, a 6% increase from the same period last year, while production grew 13% to 408,386 units.
Deliveries of Model 3 and Model Y vehicles rose 6% to 341,893.
Deliveries of other models were up 25% to 16,130.
Tesla’s automotive revenue came in at $16.23bn, marking a 16% year-on-year increase.
Revenue from energy generation and storage declined 12% to $2.40bn, while services and other revenue advanced 42% to $3.74bn.
The company said it secured approval for FSD (Supervised) in the Netherlands in April.
It also said unsupervised Robotaxi rides were launched in Dallas and Houston during the same month.
Tesla said it had started increasing production of lithium, cathode and LFP.
In its outlook, Tesla noted that Cybercab, Tesla Semi and Megapack 3 are on schedule for volume production starting in 2026.
The company also said work was progressing at its new Megafactory outside Houston, which is set to manufacture Megapack 3 for Megablock, with production still expected to begin later this year.
Tesla added that first-generation production lines for Optimus are being installed ahead of volume manufacturing, with preparations for its first high-volume Optimus factory due to start in the second quarter.
