Tesla, Inc. (TSLA) Announced Q2 2026 Earnings on July 22, 2026, Reporting net income was "positively impacted by a mark-to-market gain of $1 billion on our SpaceX holdings" for the quarter

During the second quarter of 2026, Tesla achieved record deliveries, with sequential growth across the Americas, APAC, and EMEA of 60%, 27%, and 12%, respectively.

Automotive gross margins, excluding regulatory credits, declined sequentially from 19.2% to 16.3%, though management noted margins would have been approximately flat when controlling for a $230 million benefit from the prior quarter. In the energy storage business, Q2 deployments reached 13.5 gigawatt hours, representing a "53% sequential increase," while energy gross margins fell from 39.5% to 20.4% in the quarter.

Free cash flow for the quarter was negative, driven by Capital Expenditures that more than doubled sequentially.

Net income for the quarter was "positively impacted by a mark-to-market gain of $1 billion on our SpaceX holdings, which was offset by losses on FX of approximately $300 million and on Bitcoin of about $100 million."For its Full Self-Driving product, Tesla's attach rates continued to rise, reaching "nearly 1.5 million paid customers globally," consisting of "55% upfront purchases and the remaining 45% is subscriptions." The Tesla Robotaxi fleet expanded to a total of 7 markets in the United States, having driven "more than 380,000 miles of unsupervised robotaxi, now across 6 cities in 2 different states" with "0 notable incidents." Production has commenced for the Cybercab, while the Optimus production line is being built in Fremont "in place of what used to be the Model S, X production." CEO Elon Musk stated that "Optimus will follow the sort of normal S-curve of a manufacturing ramp, but the initial portion of the S-curve will be quite flat and long." Additionally, the company began production of the Tesla Semi truck and is preparing to begin production of "Megapack 3" and solar cells.

Looking ahead, Tesla continues to expect Capital Expenditures for this year to be "more than $25 billion," with CapEx projected to grow for the next 2 or 3 years to expand the robotaxi fleet, Optimus production capacity, and other infrastructure. To accelerate these investments, Tesla is securing debt facilities to "borrow up to $30 billion." The company plans to announce a location for its "Terafab" chip initiative soon to support Optimus, which requires solving "memory, logic and packaging" to prevent AI chip constraints.

Tesla is also deploying a "Megapod" design to scale AI compute using "disaggregated electricity production." On the semiconductor roadmap, Tesla expects an upgraded AI4 chip and the new AI5 chip to reach volume production "around the middle of next year," and is designing the "Tesla AI6 chip."📊 I can generate an updated financial summary table for Q2 2026 comparing these key metrics to Q1 2026, or create a visual chart showing the sequential trend of Tesla's automotive vs. energy margins.