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Tesla Q3 metrics

Business · Heat 2.5 / 10 · 5 shows · 23m airtime

Tesla reported third-quarter 2026 results on October 21, with auto gross margins excluding credits at 18.1% against 16.8% expected, alongside 1.74 million FSD subscriptions, the start of Optimus production and two million unsupervised RoboTaxi miles. Attention has since moved to a possible SpaceX acquisition: New Street expects a deal by the end of next year, citing Musk's higher voting control at SpaceX, and Bloomberg sources describe a push to announce one in the first half of next year. Neither company has confirmed talks. On Optimus, Tesla said it would build the California and Texas plants at the same time, while Morningstar expects the Texas plant to be delayed a year or two. CyberCab deployment details remain pending.

How 5 podcasts covered it

  1. Closing Bell, 2026-10-21 (14:27 to 15:48)
    Breaks down Tesla's margins and FSD subscriptions
    Runs through the Tesla metrics that weren't in the headline numbers: auto gross margins ex-credits at 18.1% against 16.8% expected, 1.74 million FSD subscriptions, Optimus production underway, and two million unsupervised RoboTaxi miles.
    New angle: Tesla's auto gross margins excluding credits were 18.1%, above the 16.8% expected.
  2. WSJ What's News, 2026-10-22 (3:56 to 4:57)
    Recaps Q3 and Musk's robotaxi comments
    Recaps the Q3 release: flat sales, a 5% after-hours drop, and a 70% jump in European sales in September. Adds Musk's call comments on robotaxi revenue and Optimus shipping by the end of next year, and his refusal to discuss the SpaceX merger.
  3. Bloomberg Tech, 2026-10-22 (9:02 to 14:50)
    Interviews Harwood on Tesla's CapEx and FSD
    Interviews New Street's Ben Harwood on Tesla's Q3: he calls the $5 billion-plus CapEx cut a timing issue, puts FSD take at 75% of US vehicles sold, and predicts SpaceX acquires Tesla by the end of next year.
    New angle: New Street expects SpaceX to acquire Tesla by the end of next year, citing Musk's higher voting control at SpaceX.
  4. Bloomberg Tech, 2026-10-22 (14:50 to 17:14)
    Adds Bloomberg's sourcing on a Tesla-SpaceX deal
    Brings Bloomberg's own reporting to the merger thread: sources say there is a push to announce a Tesla-SpaceX deal in the first half of next year, timed to Trump's remaining time in office. Adds the China regulatory question and notes the companies confirmed in a filing that a deal is not certain.
    New angle: Bloomberg sources say there is a push to announce a Tesla-SpaceX deal in the first half of next year.
  5. The Information's TITV, 2026-10-22 (34:48 to 46:06)
    Interviews an analyst on the Optimus delay
    Interviews Morningstar's Seth Goldstein on Tesla's quarter: flat revenue, positive free cash flow, and a more capital-efficient AI build. He expects Tesla to delay the Texas Optimus plant and lays out the strategic case and China regulatory risk of a Tesla-SpaceX merger.
    New angle: Tesla said it would build the California and Texas Optimus plants at the same time; Morningstar expects the Texas plant to be delayed a year or two.
  6. Big Take, 2026-10-22 (10:10 to 11:41)
    Contrasts Tesla's capex reaction with Meta's
    Frames Tesla's post-earnings reaction against Meta's: investors treated Tesla's capex as too low and Meta's as too high. It retells the flat sales and the Optimus and flying-car ambitions without adding anything new to the record.
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