Coverage dated October 20, 2026 to October 22, 2026
SpaceX turns a profit after a string of losses as its satellite and computer leasing businesses soar
Headline from Phys
SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications operations and its business of leasing computing power to other companies boomed.
Phys's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses.
Computing leases, the Cursor acquisition, Grok, and reported deals with Anthropic and Google pushed AI revenue past Starlink for the first time as a public company
SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications operations and its business of leasing computing power to other companies boomed.
Elon Musk’s company reports a 161% growth in revenue year over year driven by its Starlink and AI segments SpaceX released its second-ever public earnings report on Tuesday, revealing a far better quarter than Wall Street projected.
SpaceX shares surged in after-hours trading Tuesday after the rocket and satellite giant reported a whopping 161% jump in quarterly revenue -- fueled by an AI business that has overtaken its Starlink internet service as the company's biggest moneymaker.
The rocket and satellite firm was up 10% Wednesday morning after reporting third-quarter revenue of $14.6 billion – up a whopping 161% from the previous year.
SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications and artificial intelligence businesses boomed. The company run by Elon Musk posted net income in the three months through September of $4.4 billion, or 35 cents per share.
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