The key facts

  • SpaceX Q3 revenue: $14.58 billion, up 161% year over year
  • AI business brought in $7.56 billion (+830%), accounting for more than half of revenue
  • EPS was $0.35; in Q2 there was a net loss of $541 million

Record revenue and earnings per share

On Tuesday, SpaceX reported Q3 revenue growth of 161% year over year to $14.58 billion, exceeding analyst expectations. Earnings per share came in at $0.35. According to Anadolu, the company's shares rose slightly in extended trading after the report was published. The drivers of growth were named as the AI segment and an increase in the number of Starlink satellite internet subscribers. Elon Musk is the founder, chief executive officer and largest individual shareholder of the company.

AI business became the main source of revenue

AI segment revenue grew 830% year over year to $7.56 billion, accounting for just over half of quarterly sales. The business includes renting out computing capacity to clients amid growing demand for artificial intelligence infrastructure. In the third quarter, SpaceX also completed the acquisition of the AI coding startup Cursor for $60 billion, expanding its presence in software development tools.

Dynamics compared to the second quarter

The third-quarter results marked an acceleration compared to the second quarter, when revenue grew 92% to $7.8 billion. In that period, the company recorded a net loss of $541 million, while adjusted EBITDA reached $3.5 billion. The communications segment, which includes Starlink, showed revenue growth of 66% and operating profit growth of 79% in the second quarter — against the backdrop of a doubling of Starlink subscribers and strengthening of the corporate and government directions.

Mobile network plans and new deals

Although SpaceX is best known for its reusable rockets, the company has expanded its activities in satellite communications and artificial intelligence. It also plans to build a mobile network in the US based on Starlink. Earlier this month, the company announced a deal to acquire low-frequency spectrum in the 800 MHz band, and the Federal Communications Commission (FCC) approved a plan for a constellation of 15,000 satellites supporting the expansion into mobile communications.