Tesla tops estimates for quarter, but wraps up first annual revenue drop on record

January 28, 2026

TL;DR

Tesla's Q4 adjusted earnings per share were 50 cents, exceeding the estimated 45 cents.
Q4 revenue was $24.90 billion, slightly surpassing the estimated $24.79 billion.
This marks the first recorded annual revenue decline for Tesla, with full-year revenue falling to $94.8 billion from $97.7 billion.
The auto segment revenue decreased by 11% in Q4, and vehicle deliveries fell 16% for the quarter and 8.6% for the full year.
Tesla is expanding its Robotaxi pilot service to seven additional U.S. markets in the first half of the year.
The company has begun tooling for its Cybercab, a driverless car without a steering wheel or pedals.
Net income for the quarter plunged 61% due to a 39% increase in operating expenses.
Revenue in energy generation and storage increased by 25%, and services and other revenue rose by 18%.
Tesla is investing approximately $2 billion in Elon Musk's AI startup, xAI.

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