SpaceX profit beats estimates on 161% revenue jump, growth in AI, satellite internet businesses
Source: The Business Times
Published on: 2026-10-20 23:44
[WASHINGTON] SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses. Elon Musk's satellite, rocket and AI conglomerate posted US$4.4 billion in net income for the quarter ended in September, far better than analysts' average projection of US$1.88 billion. Revenue increased 161 per cent from a year ago and also beat expectations. SpaceX shares rose as much as 4.7 per cent as at 4.50 pm in New York, after the close of regular trading. The stock has been volatile since the company's record-setting initial public offering in June at US$135 a share and closed Tuesday at US$147.79. SpaceX's US$2 trillion market value - which rivals a number of megacap firms and tops Musk's Tesla - has been fuelled by the billionaire entrepreneur's promises to deliver futuristic technology across an expanding b...
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