Tesla earned $477 million in Q1 2026, up from $409 million a year earlier, as sales rose 16 percent to $22.4 billion.
4:52 PM
Tesla reported a slight increase in profit during the first quarter of 2026, though earnings remained substantially lower than peaks reached in prior years, the company said Wednesday.
The electric carmaker earned $477 million in the first three months of 2026, compared with $409 million in the same period a year earlier. Sales rose 16 percent to $22.4 billion, according to the company's earnings report.
The profit gain contrasts sharply with Tesla's financial performance from earlier in the decade. In the first quarter of 2022, Tesla reported profit exceeding $3 billion. The company's earnings have trended downward since that period.
Chief executive Elon Musk has directed company resources toward developing self-driving taxis and humanoid robots, ventures that have not yet generated substantial revenue. This strategic allocation has coincided with the decline in profitability relative to earlier years.
Tesla's automotive sales have plateaued at fewer than two million vehicles annually. Additionally, the company is generating less revenue from the sale of clean air credits to other carmakers, a business line that has contracted as Congress and the administration have adjusted related policies.
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