Q2 25 EPS
$0.40
MISS 1.11%
Est. $0.40
Q2 25 Revenue
$22.50B
BEAT +1.67%
Est. $22.13B
vs S&P Since Q2 25
+9.4%
BEATING MARKET
TSLA +22.9% vs S&P +13.6%
Market Reaction
Did TSLA Beat Earnings? Q2 2025 Results
Tesla delivered a mixed second quarter, narrowly missing earnings expectations while edging ahead on revenue as deepening margin pressure underscored the cost of its aggressive push into autonomy and AI. Non-GAAP EPS came in at $0.40, falling just sh… Read more Tesla delivered a mixed second quarter, narrowly missing earnings expectations while edging ahead on revenue as deepening margin pressure underscored the cost of its aggressive push into autonomy and AI. Non-GAAP EPS came in at $0.40, falling just short of the $0.40 consensus by 1.11%, while revenue of $22.50 billion edged past estimates by 1.67%, though it still represented an 11.8% decline year over year. The primary drag was a steep contraction in automotive revenue, which fell 16% to $16.66 billion, compounded by a sharp drop in regulatory credit sales to $439 million from $890 million a year ago and lower vehicle average selling prices. GAAP operating income tumbled 42% to $923 million, with R&D expense surging to $1.59 billion as the company expanded its AI compute infrastructure and launched its Robotaxi service in Austin. The results arrive as broader auto sector peers also navigate tariff headwinds, adding another layer of demand uncertainty. Looking ahead, Tesla said it has sufficient liquidity to fund its roadmap, with a more affordable model and Cybercab volume production both targeted for 2026.
Key Takeaways
- • Decline in vehicle deliveries drove lower automotive revenue
- • Lower regulatory credit revenue reduced both revenue and operating income
- • Reduced vehicle ASP due to mix shifts
- • Growth in Services and Other revenue up 17% YoY
- • Energy gross profit reached record $846 million
- • Increased R&D spending on AI and autonomy projects
- • Lower cost per vehicle from mix and lower raw materials, partially offset by lower fixed cost absorption and tariff increases
- • Decrease in restructuring charges improved operating expenses
TSLA YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
TSLA Revenue by Segment
With YoY comparisons, source: SEC Filings
TSLA Earnings Trends
TSLA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TSLA EPS Trend
Earnings per share: estimate vs actual
TSLA Revenue Trend
Quarterly revenue: estimate vs actual
TSLA Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.36 | $0.41 | +14.14% | $22.39B | +0.18% |
| Q4 25 BEAT FY | $0.47 | $0.50 | +6.38% | $24.90B | +0.65% |
| FY Full Year | $1.64 | $1.66 | +1.52% | $94.83B | +0.17% |
| Q3 25 MISS | $0.56 | $0.50 | -10.35% | $28.10B | +5.21% |
| Q2 25 MISS | $0.40 | $0.40 | -1.11% | $22.50B | +1.67% |
| Q1 25 MISS | $0.42 | $0.27 | -35.71% | $19.34B | -9.70% |
| Q4 24 MISS FY | $0.76 | $0.73 | -3.95% | $25.71B | -6.70% |
| FY Full Year | $2.48 | $2.42 | -2.47% | $97.69B | -1.85% |
| Q3 24 BEAT | $0.58 | $0.72 | +24.14% | $25.18B | -0.75% |
| Q2 24 MISS | $0.62 | $0.52 | -16.13% | $25.50B | +2.94% |