[Tesla Q3 Financial Report: Revenue Flat Year-on-Year, Net Profit Down 43%, Operating Expenses Up 39%] BlockBeats News, October 22 — Tesla released its third-quarter 2026 financial results early this morning Beijing time. Revenue was $28.046 billion, essentially flat year-on-year; net profit attributable to common stockholders was $787 million, down approximately 43% year-on-year. GAAP diluted earnings per share were $0.22, lower than $0.39 in the same period last year. Operating profit fell approximately 56% year-on-year to $718 million, with an operating margin of 2.6%, down 3.2 percentage points year-on-year. The decline was mainly due to increased spending on R&D, AI, robotics, and other areas (operating expenses rose approximately 39%). Overall GAAP gross margin rose to 19.6% (up approximately 1.6 percentage points year-on-year and significantly higher than the previous quarter). Excluding regulatory credits, automotive gross margin was approximately 18.1%, showing significant improvement compared to both the previous quarter and the same period last year. Vehicle deliveries for the quarter totaled 486,500 units, down 2% year-on-year; production reached 464,400 units, up 4% year-on-year. Automotive revenue fell approximately 3% year-on-year, energy generation and storage revenue declined approximately 16%, while services and other revenue grew approximately 33%. The company stated that increased R&D and other operating expenses, reduced regulatory credit revenue, and lower energy business margins put pressure on operating profit. Tesla's operating cash flow for the third quarter was $6.263 billion, and free cash flow was $1.531 billion, lower than $3.990 billion in the same period last year. The company noted that battery supply continues to limit vehicle production growth. Meanwhile, Tesla has begun Semi production in Nevada, started Optimus production in Fremont, and deployed Cybercab into the Austin Robotaxi fleet. According to BIT (bit.com) market data, SPCX fell 3.32% in after-hours trading, possibly influenced by the financial report.