Flying Roadsters can’t lift Tesla’s flat Q3 revenues

Tesla reported flat revenue for the third quarter of 2026, while operating income and free cash flow fell sharply. The results underline the pressure on its core car business and raise questions about whether newer ventures can offset weaker performance.

Revenue was $28.0 billion, with net income of $1.7 billion; automotive revenue fell 3 per cent to $20.5 billion and energy revenue dropped 16 per cent to $2.9 billion. Services revenue rose 33 per cent to $4.6 billion, but operating expenses increased 39 per cent and operating income fell 56 per cent to $718 million. Deliveries were down 2.1 per cent year on year, while Tesla and SpaceX formed committees to discuss a possible merger; the quarter also featured a Roadster prototype demonstration using cold-gas thrusters.