Tesla Q2 2026 Earnings Fall Short; Bitcoin Holdings Steady

Tesla's second-quarter 2026 results missed market expectations, sending the stock down more than 4% in premarket trading. The company also said its bitcoin position was unchanged and recorded a $112 million unrealized loss on the holding. On July 22, 2026, Tesla reported Q2 2026 revenue of $28.24 billion, up 26% from a year earlier. Gross profit rose 23% year over year to $4.7 billion. Profitability metrics trailed forecasts: adjusted EPS was $0.33 versus the $0.50 consensus estimate, and adjusted EBITDA was $3.273 billion compared with expectations of $4.0 billion. The miss came as operating expenses jumped 47% year over year and operating income dropped 57%, weighing on margins and cash inflows. Tesla pointed to expanding capacity and output: Q2 deliveries rose 25% to 480,126 vehicles, the strongest second quarter in company history. Production totaled 451,758 vehicles, and energy storage deployments reached 13.5 GWh, up 40% from a year earlier. Tesla also reiterated plans to roll out the first Optimus robots by the end of 2026. The company said initial batches will be used at its Optimus Academy to collect training data and improve functionality. Increased spending tied to Optimus and the Cybercab robotaxi initiative likely contributed to higher operating expenses. Bitcoin holdings were unchanged, the filing showed. Tesla did not disclose the exact number of bitcoins on its balance sheet. It previously reported 9,720 BTC, while Arkham Intelligence estimates 11,509 BTC. The portfolio's carrying value fell to $674 million from $786 million, resulting in a $112 million unrealized loss, about half the level recorded in Q1. Source: Tesla filings; Yahoo Finance.