Tesla Q3 Earnings 2026: Tesla Cuts Spending to $20 Billion as Profit Slides 43%

Tesla Q3 Earnings 2026: Tesla Cuts Spending to $20 Billion as Profit Slides 43%

Tesla's third-quarter earnings beat Wall Street expectations on revenue but revealed a sharp profit slide, as the electric vehicle maker cut its 2026 spending plans amid questions about its AI and robotics ambitions. Net income fell 43 percent year-on-year to $787 million, with an operating margin of just 2.6 percent.

The company posted revenue of $28.05 billion, slightly above estimates, and adjusted earnings of 48 cents per share against the expected 45 cents. The surprise came on spending: Tesla slashed its 2026 capital expenditure guidance to about $20 billion from over $25 billion, and reported positive free cash flow of $1.53 billion — far better than the nearly $5 billion cash burn analysts had feared.

Tesla shares, which closed Wednesday up 3.4 percent at $386.47, fell between 2 and 4 percent on Thursday. The company said its Optimus humanoid robots are now coming off the Fremont production line and it aims to begin Cybercab sales by the end of 2026, while Tesla and SpaceX have formed special committees to discuss a possible merger.

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