- Tesla released its Q2 report.
- Profit came in below expectations.
- The stock fell by more than 4%.
- The bitcoin portfolio remained unchanged.
- The company reported an unrealized loss of $112 million on it.
July 22, 2026, Tesla released its report for Q2 2026. Despite revenue growth, profit came in below expectations, which weighed on the automaker’s share price.
Financial Results
According to the report, Tesla’s revenue in Q2 2026 totaled $28.24 billion. That is 26% higher compared with the same period a year earlier.
Gross profit, in turn, rose 23% year over year, to $4.7 billion. However, adjusted earnings per share came in at $0.33 versus the forecast $0.5. Adjusted EBITDA — $3.273 billion versus the expected $4 billion.
This outcome is likely driven by a simultaneous 47% year-over-year increase in operating expenses and a 57% decline in operating income.
At the same time, the company reported growth in production capacity and output. In Q2, Tesla delivered 480,126 vehicles, up 25% year over year. This is the best Q2 result in the company’s history.
In addition, it produced 451,758 vehicles and deployed 13.5 GWh of energy storage systems, 40% more than a year earlier.
The company also noted that it plans to roll out the first Optimus robots by the end of 2026.
“The first batches of Optimus will be used at our Optimus Academy to collect training data and further develop functionality,” the company said.
This is likely what is driving the rise in operating expenses. Especially since, in addition to Optimus, Tesla is also betting on the Cybercab robotaxi.
Higher expenses, margin compression, a drop in operating cash inflows, and profit below expectations negatively affected the market’s impression of the company’s report. This, in turn, weighed on the stock.
In premarket trading, it fell by more than 4%:
What’s the Situation With the Bitcoin Portfolio?
According to the report, it remained unchanged. The company itself does not specify in the report exactly how many bitcoins it holds on its balance sheet. Previously, it said it had 9,720 BTC, but Arkham Intelligence analysts cite a different figure — 11,509 BTC.
The report shows that the portfolio valuation fell from $786 million to $674 million. It resulted in a $112 million unrealized loss for the company, which is roughly half compared with Q1.
More details on Tesla’s bitcoin purchases and sales, as well as changes in unrealized profit and loss, are shown in the infographic below:
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