SpaceX rises after strong results as Musk floats Tesla merger
TSLA•SpaceX reported a 161% increase in third-quarter revenue to $14.6 billion, above analysts’ $12.72 billion estimate, and said Elon Musk’s two companies formed special committees to discuss a merger. SpaceX shares rose 9% premarket, while Tesla shares gained 1.8%.
1. Results and merger talks
SpaceX reported third-quarter revenue of $14.6 billion, up 161% from a year earlier and above analysts’ $12.72 billion estimate. The company’s AI business surged, while its Starlink satellite-internet unit continued to grow. Elon Musk said a merger of SpaceX and Tesla would be “a good idea,” and the companies formed special committees to discuss a union. SpaceX shares rose 9% to $161.07 premarket, and Tesla shares gained 1.8%.
