SpaceX revenue jumps 161 per cent on AI and Starlink growth
SpaceX posted $US14.58 billion in quarterly revenue, 161 per cent above the prior year and ahead of analyst forecasts.
Elon Musk's SpaceX reported earnings after the US market closed, with third-quarter revenue of $US14.58 billion ($20.8 billion). SpaceX's result beat analyst estimates of $US12.72 billion by a significant margin.
The surge came from growth in its AI business and steady gains at Starlink, its satellite-internet service. The S&P 500 rose 0.3 per cent and the Dow Jones climbed 1 per cent, though the Nasdaq fell slightly as losses for Apple and Meta weighed on big tech stocks.
Oil prices eased 0.8 per cent to $US108.70 a barrel, retreating from near their highest levels since the war with Iran began in late February. The ASX is set to open up 0.4 per cent today, guided by positive signals from US markets.
Why it mattersSpaceX's earnings beat shows the company is scaling faster than expected, signalling strength in satellite internet and AI infrastructure as major growth drivers.
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