Tesla Q1 Profits Surge 30%, Caps $25B AI-Robotics Spend

Tesla delivered 358,023 vehicles in Q1 2026, up 6.3% from Q1 2025's 336,681, while production reached 408,386 units. Revenue hit $22.4 billion, a 16% year-over-year increase from $19.34 billion, beating Wall Street estimates of $22.19 billion. Adjusted earnings per share came in at $0.41, surpassing the $0.34 forecast and reflecting 30% growth from the prior year, supported by a gross margin of 21.1% against expectations of 17.7%. GAAP operating income stood at $0.9 billion with free cash flow of $1.4 billion, though energy storage deployments fell 38% sequentially to 8.8 GWh. Shares rose up to 4.5% after hours on the earnings beat and forward guidance.