Tesla reported Q1 2026 earnings of $22.39 bn revenue and $0.41 EPS, surpassing forecasts of $22.28 bn and $0.36 EPS.
Automotive revenue rose 16% YoY to $16.23 bn, gross margin improved 478 bps to 21.1%, beating the 17.7% estimate.
Vehicle deliveries increased 6% to 358,023 units and production rose 13% to 408,386, while free cash flow turned positive.
Shares jumped nearly 4% after hours; TSLA remains worst‑performing Magnificent 7 stock YTD down 13.8% versus S&P 500 up 4.3%.