Tesla (TSLA) Q1 2026 earnings report

Tesla’s On Wednesday, it reported first-quarter earnings that beat analysts’ forecasts, even though revenue came in weaker than expected. Shares rose more than 3% in extended trading.

Here is the company’s performance compared to the forecasts of analysts participating in the LSEG survey:

• earnings per share: 41 cents adjusted, 37 cents expected
• Revenues: $22.39 billion, expected $22.64 billion

Tesla’s shares have underperformed all of its megacap peers so far this year, falling 14% as of Wednesday’s close. The company’s core automotive business continues to compete with global rivals such as China’s BYD and Xiaomi.

Revenue rose 16% in the quarter from $19.3 billion a year earlier, according to Tesla data. earnings statement. Revenue in the auto segment also rose 16% to $16.2 billion, from $14 billion a year ago. Tesla confirmed on its earnings call that it plans to make “more affordable trims” on its Model Y SUV and Model 3 sedans.

The past year has been challenging as rivals have introduced higher-tech but lower-cost models to counter Tesla’s aging electric vehicle lineup. Tesla is also facing consumer backlash in response to CEO Elon Musk’s work with the Trump administration, his inflammatory political rhetoric and his support of far-right political figures.

Earlier this month, Tesla reported 358,023 vehicle deliveries in the first quarter; this was lower than the previous quarter and up approximately 6% from the previous year. Tesla has recorded annual declines over the last two years.

In its energy segment, which sells solar power plants and various battery energy storage systems, Tesla reported revenue of $2.41 billion for the quarter. This figure decreased by 12% from $2.73 billion in the same period of the previous year.

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