SpaceX Shares Rise More Than 9% Premarket After Third-Quarter Earnings

SpaceX shares rose more than 9% in premarket trading Wednesday after third-quarter revenue and net income topped expectations, putting the company’s earnings in focus ahead of the regular U.S. session.

Revenue reached $14.58 billion for the three months ended Sept. 30, a 161% increase from a year earlier. The total was more than 10% above analysts’ expectations of about $12.8 billion.

Net income was about $4.4 billion, compared with expectations of $1.88 billion. That made the reported profit more than twice the anticipated amount. The two figures measure different parts of the quarter: revenue is the company’s sales, while net income is its profit after expenses.

Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, rose 306% from a year earlier to about $8.8 billion. That measure was more than 30% above expectations. The share gain occurred before the U.S. market opened, following the company’s results for the quarter ended in September.