Brief
SpaceX posts $4.4 billion profit and hints at Tesla merger
The Texas rocket firm posted its first profit as a public company and disclosed merger talks with electric‑car maker Tesla.
By Felo News Desk · Published
SpaceX reported its first profit as a public company on Tuesday, posting a net income of $4.4 billion for the quarter ended Sept. 30, according to a Los Angeles Times report. The earnings release also said the company and Tesla have each formed special committees of independent directors to explore a potential merger, which would be the largest of its kind.
Revenue for the quarter jumped to $14.6 billion, nearly double the $7.8 billion recorded in the second quarter, while capital expenditures rose to $19.59 billion, driven largely by artificial‑intelligence computing investments. SpaceX’s AI division, now called the “super intelligence” business, generated $7.56 billion in revenue and an operating profit of $431 million, reversing a $1.26 billion loss in the prior quarter.
The connectivity segment, anchored by the Starlink satellite‑internet service, posted an operating profit of $2.37 billion on $5.25 billion of revenue. Starlink added 1.6 million subscribers worldwide, bringing the total to nearly 14 million customers in 174 markets. SpaceX also reported 22 million mobile users, a 37 percent increase from the second quarter.
In the space launch business, the company completed 35 launches, including 21 Starlink missions, and earned $1.77 billion in revenue, up from $962 million in the prior quarter. Losses in the launch segment narrowed to $7 million from $542 million a few months earlier.
Elon Musk, who serves as chief executive of both SpaceX and Tesla, said on the earnings webcast, “I do think there’s a lot of merit to combining the companies. There’s a lot to be gained from cooperating on developing superintelligence software.” He added that he is not participating in the committee discussions because of a conflict of interest. SpaceX shares rose nearly 8 percent in after‑hours trading, while Tesla stock climbed about 1.2 percent.
President Gwynne Shotwell highlighted the company’s momentum across launch, communications and AI, noting the recent Starship flight on Sept. 28 and the expansion of mobile‑communications services. She also said the AI division’s performance reflects the firm’s broader push to compete with OpenAI, Anthropic and other AI leaders.
Key facts
- SpaceX posted a net income of $4.4 billion for Q3 2026. (latimes.com)
- Revenue rose to $14.6 billion, nearly double the prior quarter. (latimes.com)
- SpaceX and Tesla each created independent committees to study a merger. (latimes.com)
- Starlink added 1.6 million subscribers, reaching about 14 million customers in 174 markets. (latimes.com)
- SpaceX shares gained nearly 8 percent after the earnings announcement. (latimes.com)
Sources
- [1] latimes.com — originally reported as “SpaceX touts possible Tesla merger after profits soar”
