Tesla’s total third-quarter revenue was $28.04 billion, a skosh below the $28.09 billion it generated in the third quarter of 2025. Tesla’s third-quarter revenue was also about $200 million lower than the previous quarter’s haul of $28.23 billion.
Tesla saw a 16% year-over-year drop in its solar and energy storage business to $2.8 billion, which it blamed on tariff-related customer refunds. There was some positive revenue growth in its services business, a category that includes customer subscriptions to its Full Self-Driving advanced driver-assistance software. Tesla’s services business grew 33% year-over-year, bringing in $4.6 billion.
None of this was enough to outpace Tesla’s spending on artificial intelligence projects and its Optimus robot, which took a big bite out of profits.
The company reported $787 million in net income, a 43% drop from the same period in 2025 when it earned $1.37 billion. Lower regulatory credit sales also put pressure on its profitability. The company stayed in the black in large part because of a big boost from its “services and other” segment, which accounted for a record $734 million in gross profit for the quarter.
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