SpaceX posts first operating profit as public company as AI revenue nearly triples to $7.6 billion—cruising past Starlink
Source: Fortune ·
Computing leases, the Cursor acquisition, Grok, and reported deals with Anthropic and Google pushed AI revenue past Starlink for the first time as a public company
From the source
Elon Musk’s SpaceX said Tuesday that third quarter revenue rose 161% to $14.6 billion year-over-year, cruising past the $12.86 billion analysts expected, according to Visible Alpha consensus from S&P Global Market Intelligence. The company reported net income of $4.4 million, or 35 cents a share compared with a net loss of $541 million in the second quarter and $5.5 billion a year ago. Operating income rebounded to $2.79 billion, from a loss of $143 million in the second quarter, well above the $2.33 billion analysts expected. SpaceX’s buzzy AI segment—renamed “Super Intelligence”—which includes computing capacity leased to Claude-maker Anthropic, Google, Grok and X, clocked in with revenue of $7.56 billion, compared to $6.47 billion analysts had expected, and up from $2.56 billion in the second quarter. SI revenue nearly tripled this quarter. Connectivity revenue, mostly from Starlink, rose 69% to $5.25 billion, against the $4.92 analyst expected and connectivity operating income…