Overview
- Tesla, which reported results Wednesday, posted $22.39 billion in revenue and $0.41 adjusted EPS, and it generated about $1.4 billion in free cash flow.
- Management raised 2026 capital spending to more than $25 billion, a jump that executives said will likely turn full‑year free cash flow negative and that pushed the stock lower after hours.
- Robotaxi operations expanded to Dallas and Houston with some unsupervised driving, and Tesla said paid miles nearly doubled last quarter, though it did not disclose fleet size or vehicle counts.
- Tesla reaffirmed targets to reach volume production of the Cybercab and the Tesla Semi in 2026 and said Fremont will begin preparing for Optimus robot production in Q2, while Elon Musk cautioned robotaxi and robotics revenue will not be material until 2027.
- Tesla cited 1.28 million Full Self-Driving subscribers, a figure that includes people who bought the package, and Musk said vehicles with older Hardware 3 will not get unsupervised FSD, a limit that affects a large share of existing owners.