Tesla reports profitable Q1 2026, robot production ramps

Tesla reported a profitable first quarter of 2026, with net income reaching $477 million on $22.4 billion in revenue, a 16% year-over-year increase. While automotive revenue grew, energy storage revenue declined, and operating margins narrowed to 4.2%. The company saw a significant rise in active Full Self-Driving subscriptions, now at 1.3 million. Tesla is also preparing to ramp up production of its Optimus humanoid robots, aiming for 1 million units annually at its Fremont factory, with Texas production planned for 10 million units per year.