Tesla’s latest earnings show a company looking beyond electric cars. FSD, Robotaxis and humanoid robots are becoming bigger parts of its growth story. But the numbers reveal that challenges remain.
Revenue stays flat, profits under pressure
• Revenue stood at $28.05 billion, virtually unchanged from last year.
• Operating income fell 56% year-on-year to $718 million.
• Gross margin improved to 19.6%, up from 18% a year ago.
FSD and Robotaxis gain momentum
• FSD subscriptions climbed 67% to 1.74 million.
• Robotaxi rides began in Cybercabs in Austin in September.
• Tesla recorded nearly 2 million cumulative unsupervised Robotaxi miles by quarter-end.
The bigger bet: Beyond cars
• Tesla Semi has entered volume production.
• Production of Optimus humanoid robots has started on high-volume lines.
• The next-generation Roadster was unveiled, though development continues.
Cash is strong, but spending is rising
Tesla ended the quarter with $45.4 billion in cash and investments. However, heavy investment in factories, AI computing and new products continues to put pressure on profitability.
THE BIG QUESTION: Can Tesla turn its AI, Robotaxi and robotics ambitions into sustainable profits while its core car business faces slower growth?
To read more, click: Tesla Q3 2026 results: Profit, FSD and robotaxi update