SpaceX forecasts first-quarter 2027 revenue of $33 billion to $37 billion
Key Facts
SpaceX forecast total revenue of $33 billion to $37 billion in the first quarter of 2027 as it expands its computing business, which has become a major source of revenue. Chief Financial Officer Bret Johnsen announced the forecast during the third-quarter earnings call on October 20, 2026, saying the company was targeting "a range of $33 billion to $37 billion for the first quarter of 2027." Management linked the forecast to increased computing capacity and visibility into cloud services contracts, according to the call transcript. The announcement followed third-quarter revenue of $14.6 billion, according to the Associated Press. That represents a 161% increase from a year earlier, as growth in the superintelligence business accelerated.
The company's revenue in the second quarter of 2026 was $7.8 billion, according to its results filed with the U.S. Securities and Exchange Commission. Revenue rose 92% from $4.1 billion in the same period a year earlier. SpaceX posted a third-quarter profit of $4.4 billion, or 35 cents a share, reversing a year-earlier loss, according to the Associated Press. The return to profitability also followed a net loss of $541 million in the second quarter, according to the company's disclosure for that period. The company's shares rose 7.5% in after-hours trading on the day the results were announced, the agency reported.
The superintelligence segment stood out in the third-quarter results, generating revenue of $7.6 billion, according to the company's filing with the U.S. regulator. The segment posted growth of 195% from the previous quarter. Revenue rose 830% from a year earlier, according to the same filing. The company attributed the business's growth to new cloud services agreements, the acquisition of Cursor and increased use of Grok. Reuters reported that the AI business generates most of its revenue from leasing data center capacity to developers such as Anthropic, Google and Reflection AI.
The computing expansion was accompanied by a sharp rise in capital spending, which reached $19.6 billion in the third quarter, according to the Associated Press. Spending was nearly three times its level in the same period a year earlier. Of that total, $16.4 billion was allocated to expanding computing infrastructure in the superintelligence segment, according to Investing.com. Nameplate computing capacity reached 1.7 gigawatts at the end of September 2026 as the segment's infrastructure expanded. Total capital spending during the quarter exceeded the company's revenue of $14.6 billion for the same period.
SpaceX expects capital spending of $35 billion to $40 billion in the fourth quarter of 2026, according to the Associated Press. Alongside that expected increase, the company aims to reach nameplate computing capacity of 2.5 to 3 gigawatts by the end of the quarter, according to management's comments on the earnings call. On the launch program, Elon Musk said the next Starship launch was scheduled for the month following the October call. He added that the company would seek during the flight to catch the booster and spacecraft as they returned to base, according to the Associated Press. It will use mechanical arms for the catch attempt Musk described.
The company's chip plans extend to its joint Terafab project with Tesla, according to Reuters. Musk said the project aims to begin volume chip production in the third quarter of 2028. Ahead of that, it aims to bring the project's first test chip online in May or June of the year following the earnings call. The test chip uses static random-access memory circuits, according to details reported by the agency. Musk gave an approximate date for bringing it online, while volume production remains targeted for the later date announced.