SpaceX posts $4.4B profit as AI revenue jumps ninefold

SpaceX (SPCX) reported $14.58 billion in third-quarter revenue, but its reported $19.6 billion spending spree has raised questions about the cost of its aggressive expansion into artificial intelligence. According to the earnings report, revenue jumped 161% from last year, helped by rapid growth in its AI operations and satellite internet business. The company also reported adjusted earnings of 45 cents per share, comfortably beating Wall Street’s estimate of 13 cents. This caused SpaceX’s stock price to rise by around 8% during extended trading on Tuesday. The consensus revenue estimate from analysts at LSEG was $12.72 billion. The firm reported operating income of $2.8 billion and net income of $4.4 billion, as opposed to a net loss of $1.05 billion the previous year.

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