Tesla (NASDAQ: TSLA) posted second-quarter revenue of $28.24 billion on July 22, 2026, beating consensus by more than $2.5 billion even as adjusted EPS of 33 cents missed the Street's 50-cent estimate. The report crossed one milestone that Elon Musk had teased for months — Tesla's trailing-twelve-month revenue crossed $100 billion for the first time — and confirmed that the Cybercab is now in production and that first-generation Optimus lines are being installed for a 2026 factory start.
Revenue Beat, EPS Miss, FSD Subscriptions Jump 56%
Tesla delivered 480,126 vehicles in the quarter, up 25% year over year and 18% above the Street's 406,000 estimate. Active Full Self-Driving subscriptions reached 1.48 million, a 56% year-over-year jump and a 16% sequential gain from 1.28 million in Q1. Digital-asset holdings dropped to $674 million (from $786 million) alongside a softer Bitcoin market, but Tesla still called Q2 the start of "its largest and most exciting period of investment."
Cybercab In Production, Semi "Commissioning"
The most concrete manufacturing signal in the release was Cybercab — the two-seat autonomous vehicle Musk unveiled at the We, Robot event — being listed as "in production" at Giga Texas, an upgrade from the "expected this year" language in Q1. Tesla Semi was moved to "commissioning" status at Nevada, on track for volume production later in 2026, and the company said "maximum capacity utilization at our factories" is now the central operations focus.
Optimus Production "Soon" — But Still Zero Units
On the humanoid front, Tesla said "first-generation Optimus Bot production lines are being installed in anticipation of production in 2026" with a launch coming "soon." The company reiterated that Fremont Model S/X lines were decommissioned in 46 days to make room for the new build line, and that early Optimus units will feed Tesla's internal Optimus Academy for data collection before external deployment. As of the report, production count remained at zero.
Robotaxi Fleet Expands To Seven Metros
Tesla's robotaxi service is now live in seven U.S. metros, layering on its earlier Tampa and Orlando launches. Capex guidance was raised to exceed $25 billion for the year, and shares slipped 2.8% to $363.42 in after-hours trading as investors digested the EPS miss against the Cybercab and Optimus milestones.
Reporting based on coverage from Benzinga and Tesla's Q2 2026 shareholder update.