Tesla Reports Strong Q1 Results
The company stated that earnings per share reached $0.41 during the January–March period, exceeding market expectations. At the same time, total revenue increased by 16% to $22.39 billion, compared with $19.34 billion in the same period a year earlier.
Tesla recorded an operating profit of $941 million and net income of $477 million for the first quarter. Its overall gross margin also strengthened, rising to 21.1% from 16.3% a year prior.
In its First Quarter 2026 Update, Tesla reported it had made “meaningful progress” in developing the infrastructure and AI software supporting its robotaxi initiative and future robotics ventures. The company also noted it was scaling up AI computing capacity, battery and battery-material production facilities, and preparing manufacturing lines for Megapack 3, Cybercab, and the Tesla Semi.
Additionally, Tesla said it began unsupervised robotaxi rides in Dallas and Houston in April. It also obtained approval for its supervised full self-driving (FSD) system in the Netherlands and started increasing output of lithium, cathode, and LFP materials. The company further stated that groundwork for its first large-scale Optimus production facility will commence in the second quarter.
In terms of vehicle performance, Tesla reported first-quarter deliveries of 358,023 units, reflecting a 6% year-over-year increase, while production rose 13% to 408,386 vehicles.
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