Tesla's Profit Dip Masks Strong Growth | Annapolis News

Annapolis News Today | 2 Min News | The Daily News Now! · Jul 23, 2026 · 1m

Tesla’s profits dipped slightly last quarter despite a massive 26% revenue surge, driven by booming Model Y and Model 3 sales—especially in Europe, where rising gas prices made EVs more appealing. While net income fell to $1.1 billion from $1.17 billion a year ago due to heavy R&D investment, energy storage and battery revenue climbed 13%, and Full Self-Driving subscriptions are gaining traction in the U.S. The company is aggressively scaling its future bets: robotaxi services now operate in seven major U.S. cities, Optimus robot production is slated for later this year, and Cybercab and…