SpaceX Third-Quarter Revenue Tops Expectations at $14.6 Billion

SpaceX’s third-quarter revenue climbed to $14.6 billion, beating expectations as its AI business expanded and Starlink gained subscribers, even as spending on computing infrastructure rose sharply.

Revenue more than doubled from a year earlier to about $14.6 billion. Net income reached $4.4 billion. The results cover the three months ended Sept. 30.

AI revenue rose more than ninefold to about $7.6 billion.

Starlink had 13.6 million users in the third quarter. Average monthly revenue per user was $69, down from $99 in 2023.

Total capital spending reached about $19.6 billion, with $16.4 billion going to AI. SpaceX shares rose as much as about 3% in after-hours trading Tuesday following the results.

The earnings release was SpaceX’s second quarterly report since its public listing.