Tesla Q3 Earnings Disappoint As Net Profit Plunges 44% To $787 Million, Elon Musk-Led Electric Vehicle Maker Reports Flat Revenue Of $28 Billion
Mumbai: Elon Musk -led electric vehicle manufacturer Tesla reported a sharp 44 per cent year-on-year decline in net profit for the third quarter of 2026, even as the company's cash flow improved significantly. The Texas-based automaker posted a net income of $787 million, while quarterly revenue remained largely unchanged at $28 billion, reflecting continued pressure on profitability. Tesla Q3…
Tesla, under the leadership of Elon Musk, reported a significant 44% decline in net profit for the third quarter of 2026, despite a notable improvement in cash flow. The company's net income fell to $787 million, while revenue remained stagnant at $28 billion. The company's cash flow increased to $1.5 billion, showing stronger cash generation.
Elon Musk has suggested a potential merger between Tesla and SpaceX, forming special committees at both companies to explore the idea. Tesla also nearly doubled its capital expenditure to $4.7 billion, indicating increased investments in manufacturing, technology, and future products.
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