SpaceX revenue jumps 161% to $14.58 billion in the third quarter
Key Facts
SpaceX revenue jumped 161% year over year in the third quarter to $14.58 billion, exceeding analysts’ estimate of $12.72 billion, according to Reuters. The company reported net profit of $4.4 billion, compared with expectations of $1.57 billion. The turnaround followed a net loss of $541 million in the second quarter. Results showed that AI became the largest business by revenue during the quarter, while Starlink satellite service remained the biggest profit generator, according to the Associated Press. The company’s shares rose 7.8% during Wednesday’s session after the earnings announcement, the news agency reported.
Revenue expanded alongside a surge in the AI business, which generates revenue mainly by leasing data-center capacity to developers, including Anthropic, Google and Reflection AI, according to Reuters. SpaceX said in its quarterly report that the year-over-year increase in revenue for its superintelligence unit was $6.747 billion in the third quarter. The connectivity unit, which includes a business linked to Starlink, recorded a year-over-year increase of $2.151 billion. This reflects the two businesses’ contributions to revenue growth, while their positions in the business mix differ: AI led in revenue, while Starlink retained the lead in profit generation. The available facts did not disclose the units’ contribution percentages reported in the initial version.
Revenue rose from $7.81 billion in the second quarter to $14.58 billion in the third quarter, alongside the company’s shift from a net loss to profit of $4.4 billion. Revenue exceeded LSEG’s estimate of $12.72 billion, while the profit also topped analysts’ estimate of $1.57 billion. The Associated Press reported that the expansion came with capital spending of $19.6 billion in the third quarter. The company expected to increase that spending to between $35 billion and $40 billion in the current quarter. By contrast, the news agency said SpaceX’s forecast for revenue growth in the final three months of the year came in below analysts’ expectations, putting the revenue outlook alongside accelerating spending in the picture for the coming quarter.
The expansion of computing infrastructure included an increase in nameplate capacity to 1.7 gigawatts on September 30, 2026, from 1.4 gigawatts at the end of June and 0.6 gigawatts in the same period a year earlier, according to the company’s results statement filed with the U.S. Securities and Exchange Commission. On October 26, SpaceX announced a binding financing commitment to enter into a master finance lease of about $40 billion for GPU units and related equipment, managed by an Apollo affiliate. The company said the lease is expected to close before the end of 2026. Lease schedules are expected to begin when the GPU units and equipment are delivered in the first half of 2027. The financing announcement follows the company’s forecast of higher capital spending in the current quarter, as it continues to expand the capacity on which its AI business relies.
In its launch business, SpaceX said it completed its first revenue-generating mission using Starship, carrying 26 Starlink V3 satellites to the constellation. The company estimated that the mission adds about 10 times the download capacity added by a Falcon 9 launch of Starlink satellites. On the next Starship test, the company plans to attempt to catch both the booster and the spacecraft with mechanical arms as they return to the base, according to the Associated Press. Elon Musk described the goal of a fully reusable spacecraft as the path to sustainably expanding human presence beyond Earth. In trading, the stock closed at $147.49 on October 23, compared with $144.75 on October 22, according to EL7 data; the post-earnings gain was 7.5% in after-hours trading on Tuesday, according to the Associated Press.