特斯拉第三季度营收持平，利润大幅下滑

特斯拉公布2026年第三季度财务报告，营收保持在280亿美元，与去年同期基本持平13。虽然营收超过华尔街预期的279亿美元1，但未达到公司自身预期的283亿美元1。然而，财报背后隐现的是利润的严重缩水：净利润同比下降43%至7.87亿美元3，运营利润率从2025年Q3的5.8%跌至2.6%3。

特斯拉多个业务板块面临压力。汽车业务收入206亿美元，同比下降3%3；太阳能和储能业务收入29亿美元，同比下降16%3。这一时期运营费用同比上升39%至48亿美元3，直接侵蚀了盈利空间。资本支出则大幅增加，同比上升110%至47亿美元3，反映了公司在人工智能和机器人等新领域的持续大额投入5。

尽管面临盈利压力，特斯拉在现金流方面保持稳健。自由现金流为正2，虽然同比下降62%至15亿美元3，但资本支出低于预期2。

Tesla reported third-quarter 2026 revenues of $28 billion, holding steady compared to the same period last year 13. The figure exceeded Wall Street's expectations of $27.9 billion but fell short of Tesla's own projection of $28.3 billion 1. However, profitability deteriorated significantly during the quarter, with net income declining 43 percent year-over-year to $787 million 3. Operating expenses surged 39 percent, compressing the operating profit margin from 5.8 percent to 2.6 percent 3.

The automotive division, Tesla's core business, generated $20.6 billion in revenue, down 3 percent compared to the prior year 3. The company's energy storage and solar business saw revenues decline 16 percent to $2.9 billion 3. Despite the profit pressure, Tesla maintained positive free cash flow, which declined 62 percent to $1.5 billion year-over-year 3. Capital expenditure reached $4.7 billion, more than doubling from the prior year 3. According to reports, the profit decline reflects CEO Elon Musk's substantial investments in artificial intelligence and robotics initiatives 25.