Tesla Q2: Revenue Beats Estimates as Optimus and Robotaxi Bets Persist

Tesla reported Q2 revenue of $28.24B (up 26% year over year) and 480,126 deliveries, beating revenue expectations but missing on adjusted EPS ($0.33 vs $0.50) and adjusted EBITDA ($3.273B vs $4.0B). Free cash flow burn narrowed to -$1.09B vs an estimated -$3.64B. Management said Optimus production is on track for later this year and Robotaxi expansion reached seven major metros, with broader rollout planned. The company remains heavy on capital expenditures for Optimus, AI data centers, and Cybercab, weighing on cash, even as auto demand improves, with US EV tax-credit dynamics and Europe/China demand providing mixed signals. After-hours stock fell about 3%.