SpaceX earnings live updates: Here's why analysts are bullish ahead of the report - CNBC
SpaceX reported massive third-quarter revenue growth of 161%, fueled heavily by its artificial intelligence and Starlink connectivity segments, driving shares up in extended trading. CEO Elon Musk also mentioned that special committees are exploring a potential merger between SpaceX and Tesla.
Why it matters
The combination of rapid revenue expansion, explosive growth in AI contracts, and a potential Tesla-SpaceX merger signals significant strategic shifts across Elon Musk's corporate empire.
SpaceX shares climbed about 8% in extended trading on Tuesday after the company reported 161% revenue growth for the third quarter, beating Wall Street estimates, with its artificial intelligence business growing ninefold.
On the earnings call, CEO Elon Musk said a merger with Tesla , his automaker, would be a "good idea," adding that the boards of both companies have formed special committees to discuss a tie-up. Tesla reports third-quarter results after the bell on Wednesday.
Here's how SpaceX did compared to LSEG consensus estimates:
SpaceX said in a release that it recorded operating income of $2.8 billion and net income of $4.4 billion. In the same period a year earlier, SpaceX reported a net loss of $1.05 billion.
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