Elon Musk waves to the crowd during the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026.
Denis Balibouse | Reuters
Tesla reported first-quarter earnings on Wednesday that beat analysts’ estimates even as revenue came in weaker than expected. The shares rose more than 3% in extended trading.
Here’s how the company did, compared with estimates from analysts polled by LSEG:
- Earnings per share: 41 cents adjusted vs. 37 cents expected
- Revenue: $22.39 billion vs. $22.64 billion expected
Tesla’s stock has underperformed all of its megacap peers so far this year, dropping 14% as of Wednesday’s close. The company’s core automotive business continues to struggle against competition from competitors across the globe like BYD in China.
Revenue increased 16% in the quarter from $19.3 billion a year earlier, according to Tesla’s earnings statement. In its auto segment, revenue also increased 16% to $16.2 billion from $14 billion a year ago.
In its energy segment, which sells solar installations and a range of battery energy storage systems, Tesla reported $2.41 billion in revenue for the quarter, down 12% from $2.73 billion in the year-ago period.
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