Space Exploration Technologies Corp. (Nasdaq: SPCX), known as SpaceX, reported $14.58 billion in quarterly revenue on Tuesday. Its third-quarter profit reversed a loss from the same quarter a year earlier.
Revenue exceeded analysts’ forecast of $12.72 billion, according to estimates compiled by LSEG. Meanwhile, net income reached $4.4 billion, against a $1.1 billion loss in the same period last year.
Analysts had expected a $1.57 billion profit. Results cover the three months ended September 30. Artificial intelligence (AI) generated $7.6 billion in revenue, mainly through computing-capacity rentals.
Customers include Anthropic, Alphabet’s Google and Reflection AI. Although SpaceX develops its own models through xAI’s Grok, computing rentals provide most of its AI income.
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That business sells access to data centres to outside developers. However, expansion requires heavy spending. SpaceX invested $19.6 billion in capital projects during the quarter, including $16.4 billion for AI infrastructure.
Starlink reached 13.6 million subscribers, above analysts’ forecast of 12.19 million. Its satellite internet business serves consumers, as well as enterprise, aviation, maritime and government customers.
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“We are in an inflexion moment for SpaceX,” Elon Musk told investors. SpaceX expects capital spending to remain near its latest quarterly level in the near future.
