SpaceX Revenue Jumps 161% in Second Quarterly Report as AI and Starlink Units Drive Profit

SpaceX reported a 161% year-over-year revenue increase for the three months ending in September, according to an earnings release issued on Tuesday. The Elon Musk-led company posted overall net income of $4.40 billion, reversing a loss of $1.05 billion in the same period a year earlier and recovering from a loss in the quarter ending in June. Shares rose nearly 4% in after-hours trading to about $153.30, implying a valuation near $1.95 trillion. SpaceX attributed the growth largely to expansion of its artificial intelligence and Starlink satellite internet businesses. The connectivity segment, which includes Starlink, generated $5.2 billion in revenue, up 69% year over year. The AI unit, overseen by SpaceX through xAI, recorded $431 million in operating income for the quarter after a $1.26 billion operating loss the prior quarter. The results marked the company's second quarterly disclosure since its June initial public offering.