Tesla (TSLA) Q1 2026 Earnings: Revenue at $22.4B, EPS Beats

Tesla (TSLA) reported Q1 2026 earnings on April 22, revealing a revenue of $22.4 billion, exceeding the $21.1 billion consensus estimate. Adjusted EPS reached 41 cents, higher than the 30-cent forecast. Free cash flow was $1.4 billion, although auto gross margins were supported by a $230 million warranty reserve release and a $250 million tariff rebate. Morgan Stanley maintains an equal-weight rating with a $415 price target, forecasting a 9% to 11% upside from current trading levels between $375 and $380.