Tesla (TSLA) revealed its Q2 2026 financial results last week on July 22. The coverage of this event was overwhelmed by SpaceX’s Starship Flight 13 launch test.
Tesla’s quarterly investor reports contain key financial metrics that show the company’s performance compared to previous quarters. It also highlights the near-term plans for growth.
Along with the release of the financial records, the company’s CEO Elon Musk and other executives also answer questions put forward by the media and investors (you can listen to the Q2 2026 Earnings Call recording below).
Tesla Revenues: Trailing 12 Months
In the 2nd-quarter report to investors (PDF below), Tesla revealed that its revenue surpassed $100 billion for the first time in the trailing 12 months. Of this, Tesla made $28.236 billion in Q2 2026 alone.
The exact revenue figure for the last 4 quarters (trailing 12 months) is $103.619 billion. Automotive revenues (car sales) account for $75.648 billion (73%).
Energy generation and storage (battery packs and solar) revenue stands at $12.799 billion (12.35%). Services and other income (including regulatory credits) added its share of $15.172 billion (14.65%).
Tesla (TSLA) wrote in its Q2 report:
Tesla generated over $100B in revenue on a trailing twelve-month basis for the first time. We achieved record second-quarter vehicle deliveries, with continued growth in new markets and strength in established markets. Our Energy Storage business returned to growth, achieving its second-best quarterly deployment number and record deployments on a trailing twelve-month basis. The Services and Other business achieved record profitability and margin in the quarter.
Tesla Q2 2026 vs Q2 2025 (YoY)
Year-over-year (YoY), Tesla improved its automotive revenues by a significant 23% for the 2nd quarter.
In Q2 2025, Tesla’s electric car sales revenues were $16.661 billion ($16,661 million). In Q2 2026, Tesla’s EV sales generated revenue of $20.516 billion ($20,516 million).
Q2 2026 was Tesla’s 2nd-best quarter ever after Q3 2023 in terms of automotive sales and revenue generation from this business segment. As a 2nd quarter, Q2 2026 was the best yet.
Tesla’s energy business also made a comeback in this quarter. Compared to Q2 2025, Tesla made 13% more revenue from the energy storage and generation segment in Q2 2026 ($2.789B vs $3.139B).
The services and other revenue segment saw a staggering growth of 50%. Last year in Q2, Tesla generated $3.046 billion from this segment, which grew to $4.851 billion in Q2 2026.
Tesla saw total revenue growth of 26% in the 2nd quarter compared to the same quarter last year ($22.496B vs $28.236B).
Tesla’s total gross profit also jumped by 23% in Q2 YoY. The automaker generated a gross profit of $3.878 billion in Q2 2025 vs $4.751 billion in Q2 2026.
However, total GAAP gross margin dropped in Q2 2026 from 17.2% in Q2 2026 to 16.8% (a drop of -41 basis points).
Tesla Q2 vs Q1 2026 Comparison (QoQ)
Q1 2026 was one of the lowest quarters in Tesla’s recent history, both in terms of car sales and the energy deployment business. However, the tech & AI-based company has recovered from this slump in the 2nd quarter.
Tesla’s automotive revenues grew from $16.234 billion in Q1 to $20.516 billion in Q2. This is an increase of 26.3%.
Energy generation and storage business saw a growth of more than 30%. The revenue from this segment grew from $2.408 billion in Q1 to $3.139 billion in Q2.
Services and other revenue saw a growth of more than 22% quarter-over-quarter (QoQ) in Q2 2026, from $3.745 billion to $4.581 billion.
The company’s total revenues jumped slightly above 26 in the 2nd quarter compared to the previous quarter, from $22.387 billion to $28.236 billion.
Interestingly, total gross profit didn’t change much in Q2 vs Q1; it saw a slight increase of 0.6%, from $4.720 billion to $4.751 billion.
Compared to Q1, total GAAP gross margin also dropped by 4.3% in Q2 2026.
Tesla (TSLA) Q2 2026 Earnings Call
In the opening remarks, Tesla CEO Elon Musk mostly talked about the Robotaxi expansion and the Optimus humanoid robot. CFO Vaibhav Taneja talked and gave answers related to the company’s finances, which is his domain.
The interesting talk and Q & A session was with the VI President of AI at Tesla, Ashok Elluswamy, about Tesla’s Full Self-Driving technology. He gave out some interesting bits, one of which was that the current Unsupervised FSD-enabled Robotaxis and Cybercabs are using early versions of the FSD V15 software.
Let’s keep this discussion for another post. Share your thoughts in the comments section below.
Tesla Q2 2026 Financial Results PDF
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