SpaceX Stock Jumps 10% on First Post-IPO Profit, Tesla Merger Explored

Space Exploration Technologies (NASDAQ: SPCX) shares surged 9.66% to $162.06 in pre-market trading Wednesday after the company reported its first quarterly profit since its June public listing and disclosed that independent committees at SpaceX and Tesla are evaluating a possible merger. SpaceX reported third-quarter net income of $4.4 billion , or $0.35 per diluted share, after posting a $541 million loss in the second quarter and a $1.1 billion loss a year earlier. Revenue climbed 161% year over year to $14.58 billion, while operating income reached $2.79 billion, compared with a $273 million operating loss in the prior-year quarter. Net income exceeded operating income by $1.613 billion, equivalent to 36.6% of reported profit.

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