SpaceX Q3 Revenue Hits $14.58B, Profit Swings to $4.4B, Beating Estimates Across All Divisions

SpaceX reported third-quarter 2026 revenue of $14.58 billion and a $4.4 billion profit, surpassing S&P Capital IQ consensus estimates of $13 billion and $2.12 billion, respectively. The company swung from a $1.05 billion net loss in the year-earlier period. Shares rose 2% in after-hours trading Tuesday after closing about 9% below their IPO price through Monday. All three divisions topped expectations: AI revenue reached $7.56 billion, nearly tripling year-ago results and beating the $6.47 billion consensus; connectivity revenue was $5.25 billion versus $4.9 billion expected; and space revenue came in at $1.77 billion, above the $1.46 billion estimate. The results arrive amid mounting scrutiny over AI spending sustainability. Gartner analysts estimated last week that more than $3.5 trillion in AI infrastructure spending "could be exposed to impairment" by the end of 2030. SpaceX's quarterly capex totaled $19.59 billion, up from $6.88 billion a year earlier, and is projected to climb from $69.9 billion in 2026 to $194.3 billion in 2028, per S&P Global's Visible Alpha Research. CEO Elon Musk is expected to address investors on an earnings call at 4:30pm.