business
Earnings at Musk's car company fall as research spending cuts into profit from selling cars
Summary by The San Antonio Editorial Desk · Based on reporting by Alex Veiga, Associated Press , KSAT 12 (ABC affiliate)
· July 22, 2026
· 3 min read
Tesla said Wednesday that its profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales. The Austin, Texas, company reported second-quarter net income of $1.11 billion, or 32 cents p...
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Summary created by The San Antonio Editorial Desk — automated, rule-governed Original reporting Alex Veiga, Associated Press, KSAT 12 (ABC affiliate) Original story Read at the source Source published Jul 22, 2026 Indexed here Jul 22, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key takeaway The Austin, Texas, company reported second-quarter net income of $1.
Why this matters in The San Antonio
As Tesla's earnings report shows the company investing heavily in research and development, San Antonio residents may wonder what this means for the local economy. With Tesla's headquarters located in nearby Austin, the company's financial decisions can have a ripple effect on the broader Texas tech industry. The significant increase in research spending, up 49% from last year, could lead to new opportunities for local businesses and talent in the region. Additionally, Tesla's growing energy generation and battery storage business, which saw a 13% revenue gain, may also have implications for San Antonio's own efforts to expand its renewable energy sector. As the city continues to develop its own sustainable energy initiatives, it will be worth watching how Tesla's investments in this area might influence or intersect with local projects and goals.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 22, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 3 min
Frequently asked about this story
What is this story about? Tesla said Wednesday that its profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales. The Austin, Texas, company reported second-quarter net income of $1.11 billion, or 32 cents p...
When was this published? This article was first published on July 22, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Alex Veiga, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The San Antonio, or browse our daily briefing and topic hubs .
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