Tesla’s record deliveries and revenue couldn’t stop operating profit from falling sharply. Tesla delivered considerably more cars in the second quarter of 2026 than it did during the same period last year, generating record revenue. However, it was not enough to stop its operating income from collapsing in Q2. Its Q2 Deliveries (April through June) totaled 480,126 vehicles, up roughly 25% from the same period last year. Revenue climbed 26% year over year, reaching $28.24 billion, but Tesla’s operating income fell 57% to around $400 million.