SpaceX revenue rose 161% to $14.58 billion in the third quarter — Channel NewsAsia

SpaceX, led by Elon Musk, increased its revenue by 161% in the third quarter, to $14.58 billion. This exceeded analysts’ average forecast of $12.72 billion, according to Reuters data published by Channel NewsAsia.

The company’s net profit for the three months ended September 30 was $4.4 billion. Analysts had expected a profit of $1.57 billion. In the previous quarter, SpaceX reported a net loss of $541 million on revenue of $7.81 billion.

Revenue from computing capacity

Starlink and the broader communications services business remain SpaceX’s main sources of revenue. At the same time, the company earns money from artificial intelligence primarily by leasing data center capacity to developers, including Anthropic, Google and Reflection AI.

More current news is available on the UA.News Telegram channel Telegram.

The AI segment also includes Grok, the social platform X and rapidly expanding data centers. This is the company’s largest area of investment. The segment’s operating losses were substantial, and SpaceX warned of the need for long-term investment before it can consistently generate profit.

Starlink and Starship

The Starlink satellite internet division continues to increase its subscriber base through additional satellite launches and the development of services for consumers, businesses, aviation, maritime transport and government entities. The company is also investing in coverage, network capacity and direct-to-device satellite communications services.

The Starship rocket has not yet entered commercial operation. SpaceX expects it to make it possible to launch higher-capacity Starlink satellites and infrastructure for orbital AI computing. Last month, during Starship’s first orbital test flight, the company deployed several Starlink satellites, but the flight ended earlier than expected due to an engine issue.