Tesla published its third-quarter 2026 financial results this afternoon. Earlier in October, it reported its sales and deliveries for the three-month period, selling fewer cars than in the same quarter in 2025 , yet it still beat analyst projections. Now we can see how those sales translate to the bottom line. Tesla brought in $28 billion in revenue in Q 3, almost the same as in 2025.
Automotive revenues were $20. 6 billion, a 3 percent decrease year over year. Perhaps more troubling is the decline in revenue from solar panels and storage batteries—this line of business had been growing, but for Q 3 revenue fell 16 percent year over year to $2. 9 billion. Services and other revenues, though, which include parts and Supercharger use, grew by a third to $4. 6 billion.
But the company—like the rest of us—has seen its expenses go up. Operating expenses rose by 39 percent to $4. 8 billion, dropping the company’s operating margin to just 2. 6 percent; in Q 3 2025, Tesla’s margin was 5. 8 percent. Net profit fell to $787 million, down 43 percent year over year. What’s more, capital expenditures were up by 110 percent to $4. 7 billion, and free cash flow was down 62 percent to $1. 5 billion.
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