SpaceX Q3 Revenue Soars 161% To $14.58 Billion As Musk Eyes $1 Trillion By 2028 | Video

· Free Press Journal

New Delhi: Elon Musk-backed SpaceX has reported quarterly results, powered by explosive growth in its artificial intelligence business and rising demand for data-centre capacity with revenue rising 161 per cent to $14.58 billion year-on-year in the third quarter.

Also Watch:

Visit casino-promo.biz for more information.

Following the earnings, the company's shares jumped more than 8 per cent in extended trading.

The company's AI unit -- now branded as Super Intelligence -- generated $7.56 billion in revenue during the quarter, nearly 10 times higher than a year ago.

The business has emerged as a major provider of compute infrastructure and data-centre capacity to AI developers including Anthropic, Alphabet's Google and Reflection AI.

Elon Musk Ordered Starlink Slowdown That Disrupted Ukraine's Drones, Trump Denies Directing It

Moreover, capital expenditure nearly tripled from a year ago to $19.6 billion as the company continued expanding its computing capacity.

Chief Financial Officer Bret Johnsen said fourth-quarter capital spending is expected to range between $35 billion and $40 billion.

Johnsen also said the company expects first-quarter 2027 revenue of between $33 billion and $37 billion, significantly above analysts' average estimate of $22.2 billion, citing improved visibility into its growing pipeline of compute contracts.

Elon Musk Pledges SpaceX Share To Every Child In America Next Year

Meanwhile, the company reported net income of $4.4 billion compared with a loss of about $1.1 billion a year earlier.

The AI business also turned profitable during the quarter as xAI reported net income of $431 million, compared with a loss of $1.7 billion in the year-earlier period.

SpaceX's connectivity segment remained a key contributor to performance. Revenue from the division, which includes Starlink, rose 69 per cent from a year ago to $5.25 billion.

Reliance Industries Responds To Elon Musk’s Remarks On Starlink India Entry Delay, Says 'Never Feared Competition'

In addition, Starlink subscribers increased to 13.6 million from 12 million a year earlier, highlighting continued demand for the satellite internet service.

During the earnings call, Musk also said a merger between SpaceX and electric-vehicle maker Tesla would be a good idea and confirmed that special committees at both companies had been formed to evaluate the proposal.

Musk also said that he expects annual recurring revenue to reach between $500 billion and $1 trillion as demand for AI-related infrastructure accelerates.

"As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible," he wrote in a post on X.

SpaceX shares closed regular trading at $147.79 on Tuesday before rising more than 8 per cent after the results. The after-hours rally also lifted Nasdaq futures, reflecting the stock's growing weight in the technology-heavy index.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Read full story at source