SpaceX Posts First Profit Since IPO as AI Revenue Overtakes Starlink

SpaceX reported third-quarter revenue of $14.58 billion, well above the roughly $13 billion analysts expected, and earnings of $0.35 per share against a $0.13 forecast. It is the company's first quarterly profit since its June IPO.

AI-related revenue reached $7.56 billion, surpassing Starlink for the first time, helped in part by the August acquisition of Cursor. CEO Elon Musk suggested $1 trillion in 2028 revenue is possible and downplayed a potential SpaceX-Tesla merger, though some analysts still see one as likely within two years.

Nasdaq-100 futures rose more than 1% in after-hours trading following the report. SpaceX (SPCX) is a Dyatome Capital holding. This article is for information only and is not investment advice.