Tesla's third-quarter net profit dropped by 43 percent
Electric vehicle manufacturer Tesla announced that its net profit in the third quarter of 2026 decreased by 43 percent compared to the same period of the previous year, falling to 787 million dollars. While the company's total revenue remained stable at around 28 billion dollars, vehicle deliveries recorded a 2 percent decline.
US-based electric automobile manufacturer Tesla shared its third-quarter financial results covering the July-September period of 2026. The company's net profit dropped from 1.4 billion dollars in the same period of the previous year to 787 million dollars. Earnings per share fell from 39 cents to 22 cents.
Tesla's total revenue showed no change compared to the same period of the previous year, remaining at the 28 billion dollar level. Revenue generated from automotive operations declined by 3 percent on an annual basis to 20.6 billion dollars. Company management stated that the financial results were above market expectations.
Looking at production and delivery data, the company produced 464,391 vehicles worldwide and completed the delivery of 486,532 vehicles. Although the production volume showed a 4 percent increase year-over-year, the number of deliveries recorded a 2 percent decrease.
The company announced that it continued its technological investments throughout 2026. In this context, it was shared that the Cybercab robotaxi service was launched in Austin on September 3, and the next-generation Roadster model was introduced on October 15.
Sources
- bloomberght.com · Link