Keyword → operating margin

Tesla Q2 2026 Revenue Hits Record $28.24B, Up 26% — Operating Margin Collapses to 1.4% as Capex Soars 142% and Free Cash Flow Turns Negative $1.09B

Tesla posted record Q2 2026 revenue of $28.24 billion, up 26% year-over-year and ahead of the $26.4 billion consensus, driven by record deliveries of 480,126 vehicles. The profit picture was the opposite of reassuring: GAAP operating income fell 57% to $398 million, compressing operating margin to 1.4% from 4.1% a year ago. Non-GAAP EPS of $0.33 missed the $0.53 estimate badly. Capex surged 142% to $5.79 billion, flipping free cash flow to negative $1.09 billion. Shares fell 6% premarket.