SpaceX posts first operating profit as public company as AI revenue nearly triples to $7.6 billion—cruising past Starlink
Elon Musk’s SpaceX said Tuesday that third-quarter revenue rose 161% to $14.6 billion year over year, cruising past the $12.86 billion analysts expected, according to Visible Alpha consensus from S&P Global Market Intelligence.
TL;DR
- SpaceX's third-quarter revenue reached $14.6 billion, a 161% increase year over year.
- Net income was $4.4 billion, with operating income rebounding to $2.79 billion.
- AI segment revenue, renamed "Super Intelligence," nearly tripled to $7.56 billion.
- Starlink revenue rose 69% to $5.25 billion, with operating income nearly doubling.
- Starlink added 1.6 million consumer subscribers, below analyst predictions.
- Overall Space revenues increased 6% to $1.77 billion.
- Capital spending for the quarter was $19.6 billion.
- Future capital investments and debt are projected to rise significantly.
- SpaceX is acquiring Grain Management’s spectrum licenses for Starlink Mobile for an estimated $8 billion.
- Elon Musk plans to offer a share of SpaceX stock to "every kid in America" next year.