SpaceX quarterly revenue jumps, beats estimates as AI business surges
SPCX•SpaceX third-quarter revenue rose 161% to $14.58 billion, beating analysts’ $12.72 billion estimate, while net income reached $4.4 billion. AI revenue rose more than ninefold to $7.6 billion, and Starlink had 13.6 million subscribers.
1. Revenue and profit surge
SpaceX reported third-quarter revenue of $14.58 billion, up 161% from a year earlier and above analysts’ $12.72 billion estimate. Net income was $4.4 billion, compared with a loss of $1.1 billion a year earlier and analysts’ expected profit of $1.57 billion. Earnings per share were 45 cents, versus an average estimate of 13 cents.
2. AI drives investment
AI revenue rose more than ninefold to $7.6 billion, mostly from renting computing capacity to developers including Anthropic, Google and Reflection AI. AI accounted for $16.4 billion of SpaceX’s $19.6 billion in capital spending, which the company expects to remain near that level in the near future. SpaceX said its AI unit has sustained investment needs before it can consistently generate profits.
3. Starlink subscriber growth
Starlink reached 13.6 million subscribers, above analysts’ estimate of 12.19 million. Average monthly revenue per subscriber fell from $99 in 2023 to $69 in the third quarter as the service expanded internationally with cheaper plans. SpaceX is also investing in network coverage, capacity and direct-to-device mobile services.
