Things got exciting for Tesla investors on Wednesday after the US stock market closed: the electric car pioneer opened its books. This is how the fiscal quarter went.
• Tesla impresses with Q1 figures
• After declines in the previous year, global deliveries are increasing
• Musk is increasing its focus on cheaper models
The electric car pioneer Tesla presented its balance sheet on Wednesday for the first quarter of 2026, which ended on March 31st. The company presented figures that showed significant momentum compared to the same period last year.
Profit and sales are convincing
Tesla exceeded experts’ expectations in terms of earnings per share (EPS). The company reported earnings of $0.41 per share. Analysts had previously expected an average value of $0.365 per share. This meant that earnings increased compared to the same quarter last year, when there were still $0.120 per share on the books. Net profit rose overall by 17 percent to $477 million.
The group also shined on the sales side. Tesla generated revenue of $22.39 billion in the quarter. This corresponds to an increase of 16 percent compared to the same period last year, when Tesla had sales of 19.34 billion US dollars. The analysts had previously assumed an average value of 22.27 billion US dollars, which meant that Tesla slightly exceeded the forecasts.
Deliveries are recovering
The positive development is primarily due to the recovery in deliveries, which rose by 6.3 percent to 358,023 vehicles in the first quarter. This marks a turnaround from the previous year, when sales figures were still affected by production changes to the Model Y and political controversies surrounding it Elon Musk had suffered. In addition, the expiry of US tax breaks at the end of 2025 put a strain on the market environment, to which Tesla responded with cheaper model versions.
Tesla shares gained 3.56 percent to $401.30 after hours on the NASDAQ.
Claudia Stephan, editorial team at finanzen.net with material from dpa-AFX
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