Tesla's report on July 22 split cleanly down the middle: revenue of $28.24 billion, up 26% year over year, beat estimates on record deliveries of 480,126 vehicles — while adjusted earnings of $0.33 per share missed the roughly $0.50 consensus. GAAP operating income fell 57% to $398 million, and free cash flow went negative at −$1.09 billion as capex more than doubled.
Optimus يحصل على مصنع
The shareholder letter's biggest news: "First-generation production lines for Optimus are being installed" at the Fremont factory, with production anticipated later this year. Initial builds go to an internal "Optimus Academy" for training-data collection rather than to customers. Elon Musk called the humanoid the hardest product Tesla has ever tried to scale — "there is no existing supply chain."
Robotaxi: نمو سريع، أموال بطيئة
Robotaxi now operates in seven metros — six unsupervised-ramping cities across Texas and Florida plus a supervised Bay Area pilot — with over 380,000 unsupervised miles logged and miles growing "more than 10% per week." But management said autonomy revenue only becomes material during 2027.
الوسادة البرمجية
FSD subscriptions climbed 56% to 1.48 million active users, and trailing-twelve-month revenue crossed $100 billion for the first time. Regulatory credits collapsed 67% to $146 million.
الإنفاق عبر الأزمة
Capex will top $25 billion this year across Optimus, AI data centers and Cybercab — now in production — and rise further in the second half. Shares fell about 3% after hours and roughly 6% premarket.