Tesla’s (NASDAQ:TSLA) Q2 CY2026: Beats On Revenue

Electric vehicle pioneer Tesla (NASDAQ:TSLA) reported Q2 CY2026 results beating Wall Street's revenue expectations, with sales up 25.5% year on year to $28.24 billion. Its non-GAAP profit of $0.33 per share was 39.1% below analysts' consensus estimates. Is now the time to buy Tesla? Find out in our full research report. Tesla (TSLA) Q2 CY2026 Highlights: Revenue: $28.24 billion vs analyst estimates of $26.71 billion (5.7% beat) EPS (non-GAAP): $0.33 vs analyst expectations of $0.54 (39.1% miss) Gross Margin: 16.8%, in line with the same quarter last year Operating Margin: 1.4%, down from 4.1% in the same quarter last year Free Cash Flow Margin: -3.9%, down from 0.6% in the same quarter last year Market Capitalization: $1.42 trillion Revenue Growth Tesla proves that huge, scaled companies can still grow quickly. The company's revenue base of $41.86 billion five years ago has more than doubled to $103.6 billion in the last year, translating into an incredible 19.9% annualized growth rate. Over the same period, Tesla's automotive peers Rivian, General Motors, and Ford put up annualized growth rates of 130%, 5.8%, and 5%, respectively. Just note that while Rivian has the most similar vehicles to Tesla, comparisons aren't exactly apples-to-apples because it's growing from a much smaller revenue base. Quarterly Revenue of Automobile Manufacturers We at StockStory emphasize long-term growth, but for disruptive companies like Tesla, a half-decade historical view may miss emerging trends in autonomous vehicles and energy. Tesla's recent performance shows its demand has slowed significantly as its annualized revenue growth of 4.3% over the last two years was well below its five-year trend. Tesla Year-On-Year Revenue Growth This quarter, Tesla reported robust year-on-year revenue growth of 25.5%, and its $28.24 billion of revenue topped Wall Street estimates by 5.7%. Looking ahead, sell-side This projection illustrates the market sees some success for its newer products, but not enough to put its top-line performance back to the levels observed in the 2010s. WHILE YOU'RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You've probably never heard of it. This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE. Automotive: Act One Revenue: The Race For Dominance Tesla is primarily an automobile manufacturer today and generates 73% of its revenue through the sale and leasing of EVs. It historically produced expensive, high-end EVs, but after years of operating losses, has shifted its focus to the mass market with affordable vehicles. The Model 3 and Model Y (released in 2017 and 2019) are the headliners of this story, and we'll dive into their impacts below.