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VERIFIEDConfidence: HIGH
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Fact-check summary

Checked against Tesla's Q3 2026 shareholder update and investor relations release. The adjusted EPS figure and analyst estimate are attributed to CNBC.

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Home/Markets/Tesla Q3 revenue holds flat at $28.05 billion as operating income falls 56%
VERIFIEDBy Xavier Rivera·Wednesday, October 21, 2026 at 4:13 PM AST·1 min read

Tesla Q3 revenue holds flat at $28.05 billion as operating income falls 56%

Tesla's Q3 2026 revenue was roughly flat at $28.05 billion, while GAAP operating income fell 56% to $718 million, a 2.6% margin. Deliveries fell 2% to 486,532, and active FSD subscriptions rose 67% to 1.74 million.

Source:ir.tesla.com
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Tesla Q3 revenue holds flat at $28.05 billion as operating income falls 56%
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TL;DRAI · 60 sec read

Tesla Q3 revenue holds flat at $28.05 billion as operating income falls 56%. Tesla says GAAP operating income fell to $718 million, a 2.6% operating margin, and GAAP diluted EPS was $0.22. Deliveries fell 2% to 486,532, while active FSD subscriptions rose 67% to 1.74 million.

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⚐ CORRECTEDWednesday, October 21, 2026 at 6:16 PM EDT

Updated after the call started: an earlier version said Tesla "will hold" its Q3 earnings Q&A call at 5:30 PM AST. The webcast began at that time on Wednesday.

→ All corrections
Tesla reported third-quarter 2026 revenue of $28.05 billion on Wednesday, roughly flat from $28.10 billion a year earlier, according to its Q3 update.

Operating income fell 56%. Tesla says GAAP operating income dropped to $718 million, a 2.6% operating margin. GAAP diluted earnings per share were $0.22, down from $0.39 a year earlier.

Adjusted EPS beat estimates. Tesla posted adjusted earnings of $0.48 per share, CNBC reported, ahead of analyst estimates of $0.44 to $0.45.

Cash flow and spending. Tesla says operating cash flow was $6.3 billion and free cash flow was $1.53 billion after $4.73 billion in capital expenditures. The company ended the quarter with $45.4 billion in cash.
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Deliveries slipped 2%. Tesla delivered 486,532 vehicles in the quarter, down 2% from a year earlier, and produced 464,391. Energy storage deployments were 13.7 GWh.

FSD, Cybercab, Semi and Optimus. Tesla says active FSD subscriptions rose 67% to 1.74 million, and that more than 75% of new North American deliveries included FSD. Cybercab rides began in Austin on Sept. 3. The company also says volume production of Tesla Semi has begun in Nevada and Optimus production has started in Fremont.
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Tesla's Q3 earnings Q&A webcast began at 5:30 PM AST on Wednesday.
Why this mattersAI · ~100 words

Tap a lens to see what this story means for you.

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