SpaceX reported its first profitable quarter since going public in June 2026, generating $4.4 billion in net profit on $14.5 billion in revenue for the third quarter. Growth was driven by artificial intelligence revenue of $7.6 billion, which surpassed sales from Starlink and rocket launches. Capital expenditures reached $19.6 billion and are projected to hit $40 billion next quarter, while CEO Elon Musk confirmed SpaceX and Tesla are exploring a merger.
Overall third-quarter financial results
- ▪SpaceX's third-quarter 2026 revenue of $14.5 billion and net profit of 37 cents per share beat Wall Street projections of $13 billion in revenue and 16 cents per share
- ▪SpaceX reported a net profit of $4.4 billion, or 37 cents per share, for the third quarter ending September 30, 2026, reversing a net loss of $1.05 billion from the third quarter of 2025
- ▪SpaceX generated total revenue of $14.5 billion in the third quarter of 2026, marking an increase from $5.6 billion in the third quarter of 2025
Artificial intelligence revenue
- ▪SpaceX generated $7.6 billion in revenue from its artificial intelligence products in the third quarter of 2026, making artificial intelligence the largest segment of SpaceX's business
- ▪SpaceX reported that combined revenue from its Starlink satellite internet service and artificial intelligence products more than doubled in the third quarter of 2026 compared to the third quarter of 2025
- ▪SpaceX's artificial intelligence revenue of $7.6 billion in the third quarter of 2026 exceeded its combined revenue from space rocket launches and Starlink satellite internet services
Capital expenditures
- ▪SpaceX increased its third-quarter 2026 capital expenditures on artificial intelligence infrastructure, including data centers and the Grok chatbot, to $19.6 billion from $6.9 billion in the third quarter of 2025
- ▪SpaceX Chief Financial Officer Bret Johnsen informed investors on October 20, 2026, that SpaceX expects capital expenditures to reach between $35 billion and $40 billion in the fourth quarter of 2026
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