SpaceX posts $4.4B profit as AI revenue jumps ninefold

SpaceX reported third-quarter revenue of $14.58 billion and net income of $4.4 billion, reversing a $1.05 billion net loss a year earlier, with adjusted earnings of 45 cents a share versus Wall Street’s 13-cent estimate. Revenue rose 161%, and the stock gained about 8% in extended trading on Tuesday. Starlink, its satellite internet service, ended the quarter with 13.6 million subscribers and generated $5.25 billion in connectivity revenue and $2.37 billion in operating earnings. SpaceX’s AI operations posted $431 million in operating profit, while its space division lost $7 million. The company also reported $19.6 billion in spending during the quarter.