Tesla posted $28.24 billion in Q2 revenue, a 26% jump year-over-year that handily topped consensus estimates of roughly $26.3 billion. Adjusted earnings per share came in at $0.33, well below the $0.50 Wall Street expected. Shares dropped approximately 11% in after-hours trading following the July 22 earnings release, with the selloff carrying into the next session.
The Optimus problem
A big chunk of the spending anxiety centers on Tesla’s Optimus humanoid robot program. CEO Elon Musk acknowledged that initial manufacturing would be “extremely slow at first.” The reason is straightforward: Optimus Gen 3 involves roughly 10,000 unique parts.
Limited production is expected to start at Tesla’s Fremont facility in late July or August 2026. High-volume production targets have been pushed to 2027.
Bitcoin holdings stay frozen
