Tesla stock jumps 4% after earnings, revenue beats in Q1

Clay Webster FXStreet

Tesla (TSLA) shares bounced over 3% initially afterhours on Wednesday as the electric vehicle (EV) and battery concern run by CEO Elon Musk reported adjusted earnings and revenue that beat Wall Street estimates.

Tesla reported adjusted earnings per share (EPS) of $0.41 on revenue of $22.39 billion. Wall Street analysts had predicted $0.35 in adjusted EPS on $22.2 billion in revenue for the quarter.

Tesla 15-minute chart — TSLA 15-minute chart for April 22, 2026

Gross margin rises by 100 basis points

Gross margin rose to 21.1%, beating the prior quarter's 20.1% ratio. Additionally, free cash flow arrived at $1.44 billion compared to $1.42 billion in the fourth quarter of 2025. Cash and investments rose $700 million QoQ.

"We continued to make meaningful progress on the build out of the infrastructure and AI software that underpins our Robotaxi and future robotics businesses in Q1," the company said in a statement. "We commenced ramp of additional AI compute, new factories across battery and battery materials, and further prepared lines for start of production of Megapack 3, Cybercab and the Tesla Semi."

Total automotive revenue rose 16% YoY, in line with overall revenues, to $16.2 billion in the quarter. Energy generation and storage revenue on the other hand fell 12% YoY, while services revenue jumped 42% from a year earlier.

Total vehicle deliveries rose 6% YoY to 358K but fell by 60K from the fourth quarter.

Total battery storage deployed, however, fell 15% YoY to 8.8 GWh.

For its Robotaxi segment, Tesla said it had completed over 1.7 million cumulative paid miles driven, and unsupervised Robotax rides were underway in Austin, Dallas and Houston, Texas. Preparations are underway for Robotaxi expansions in Phoenix, Tampa, Miami, Orlando and Las Vegas.

Active FSD subscriptions rose by 180,000 to 1.28 million in the first quarter.

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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