SpaceX Posts First Profit as Q3 Revenue Jumps 161 Percent to $14.6 Billion

SpaceX reported the first profitable quarter since its public listing on Tuesday, Oct. 20, 2026, with net income of $4.4 billion on revenue of $14.6 billion in the third quarter. The results, released after the United States market close, beat Wall Street forecasts on revenue, profit and all three of the company's business segments.

Revenue rose 161 percent from $5.6 billion a year earlier, well ahead of the roughly $12.9 billion analysts had expected. Earnings came in at 35 cents a share on a GAAP basis, more than double the analyst consensus, and operating income reached $2.8 billion. Adjusted EBITDA was $8.8 billion, against a forecast near $6.6 billion. A year earlier the company had posted a net loss of $1.1 billion.

AI is now the biggest business

The Super Intelligence segment, the company's AI business, brought in $7.6 billion in revenue, more than half of the group total for the first time. Segment revenue rose about 830 percent from a year earlier. The business grew out of the February acquisition of Elon Musk's AI startup xAI and includes the Grok chatbot and renting out data centre capacity to other AI companies.

AI also drove much of the spending. Total capital expenditure hit $19.6 billion in the quarter, up from $6.9 billion a year earlier and more than the company's entire revenue for the period. About $16.4 billion of that went to AI, according to the results coverage.

Starlink keeps growing

The connectivity segment, home to the Starlink satellite internet service, reported revenue of $5.2 billion, up 69 percent from a year earlier. Starlink reached 13.6 million consumer subscribers, up from 12.0 million at the end of June and nearly double the 7.2 million of a year earlier. Average revenue per consumer subscriber was $69 a month, and more than 3,800 aircraft now carry Starlink on board.

The space segment, which covers launches, reported revenue of $1.8 billion, up 6 percent from a year earlier. SpaceX flew 35 missions in the quarter, 12 for customers and 23 internal, down from 44 a year earlier. The quarter included the first revenue generating Starship mission, Flight 14, which delivered 26 Starlink V3 satellites. The Cursor acquisition, which closed on Aug. 14 at an implied equity value of $60 billion, added $608 million in revenue through the end of September, the company said in its results.

What investors do next

SpaceX shares rose nearly 3 percent immediately after the report. The company's June initial public offering was priced at $135 a share. The stock had slipped below that price in the weeks after the debut before settling around $148 in recent days, giving SpaceX a valuation of about $2 trillion. SpaceX gave no numeric guidance in the release and said executives would cover the outlook on its earnings webcast.