SpaceX Revenue Surges 161% on AI and Starlink Growth
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SpaceX, led by Elon Musk, reported a 161% rise in revenue for the quarter ending September, driven by its artificial intelligence and Starlink satellite internet businesses. The company earned a profit of four point four billion dollars, reversing a one point zero five billion dollar loss a year earlier. Shares climbed nearly four percent after the earnings release, trading at about one hundred fifty‑three dollars per share. SpaceX’s valuation sits near one point nine five trillion dollars, and the earnings mark its second quarterly financial disclosure since going public.
Timeline
- 2002 — SpaceX founded by Elon Musk in Hawthorne, California.
- 2015 — Starlink satellite constellation begins commercial service.
- 2023-06 — SpaceX completes initial public offering, trading on Nasdaq.
- 2023-08 — First quarterly earnings release shows $7.8 billion revenue.
- 2026-10 — Q3 earnings report announces 161% revenue growth.
Sources
ABC News - Breaking News, Latest News and Videos
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