SpaceX stock jumps 10% after earnings beat and Musk hints at Tesla tie-up

According to CNBC, SpaceX shares rose 10% Wednesday after the company reported third-quarter revenue of $14.6 billion, a 161% increase from a year earlier that exceeded analyst estimates of $12.72 billion. The company posted operating income of $2.8 billion and net income of $4.4 billion, reversing a $1.05 billion net loss in the same period last year.

On an earnings call, Elon Musk said he is considering a combination with Tesla, which would be the largest merger in history, and that both boards have formed committees to discuss consolidation. SpaceX also forecast first-quarter 2027 revenue between $33 billion and $37 billion, well above the $22.2 billion average analyst estimate. Chief financial officer Bret Johnsen attributed the results to recurring revenue from Starlink and rapid growth in the Super Intelligence segment, whose revenue jumped ninefold to $7.56 billion. Truist Securities analysts said the results support the bull case for AI cloud providers.

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SpaceX stock jumps 10% after earnings beat and Musk hints at Tesla tie-up — CNBC