- Q2 revenue rose 23% year over year to $28.24 billion, supported by record deliveries and 25% growth in global EV sales.
- Adjusted EPS came in at 33 cents versus a 50-cent estimate, while automotive gross margin excluding credits fell to 16.8% versus a 19.4% estimate.
- CapEx reached $5.8 billion, up 142% year over year, as Tesla increased investment in AI, robotaxis, robotics, factories, semiconductors and solar manufacturing.
- Tesla is expanding Robotaxi operations in Orlando and Tampa, testing the Cybercab and preparing low-volume Optimus production, but execution timelines remain central to the investment case.
- The energy business returned to growth, with sales up 13% year over year to $3.1 billion, while FSD subscriptions increased 56%.
Quotes
“largest and most exciting period of investment”
“the biggest product ever”