Revenue held steady; earnings fell
Revenue was roughly flat year over year. GAAP net income attributable to common stockholders was $787 million, down 43%; operating income was $718 million and operating margin was 2.6%.
Total GAAP gross margin was 19.6%. Non-GAAP diluted EPS was $0.48, compared with GAAP EPS of $0.22; the two measures should not be used interchangeably.
Cash generated versus investment
Operating cash flow of $6.263 billion less $4.732 billion in capital expenditures produced $1.531 billion in free cash flow. These are reported quarterly amounts, not next-quarter guidance.
Official sources
What to watch
01
Deliveries and energy
Tesla delivered 486,532 vehicles and deployed 13.7 GWh of storage. Energy revenue was $2.881 billion; storage deployment volume is not a revenue measure.
02
Plans remain forward-looking
Production ramps and infrastructure plans in the shareholder update are management expectations. Installed capacity is not the same as current output.
Questions and answers
Have the results been released?
Yes. Tesla published its Q3 2026 financial update on October 21. The historical 5:30 PM ET event is the Q&A webcast, not the exact release minute.
Which EPS figure is GAAP?
GAAP diluted EPS was $0.22. Tesla also reported non-GAAP diluted EPS of $0.48.