SpaceX swings to a “surprise profit” in Q3 as satellite communications and computing rentals thrive

[Financial News] SpaceX, the space exploration company led by Elon Musk, reported third-quarter results well above market expectations, driven by rapid growth in its satellite communications and computing power rental businesses.
On the 20th (local time), the Associated Press reported that SpaceX said in its earnings release that net income for the third quarter, which ended in September, was $4.4 billion (about 5.84 trillion won), or $0.35 per share. That was more than double Wall Street’s estimates, marking a return to profit from a loss in the same period a year earlier. Revenue also surged 161% year over year to $14.6 billion (about 19 trillion won).
SpaceX, which completed its IPO this year, successfully broke its at least a year-long streak of losses with these results. Immediately after announcing the strong results, SpaceX shares rose 2.2% in after-hours trading.
The market had been concerned that SpaceX was spending excessively on large-scale projects to compete with rivals such as OpenAI and Anthropic. Capital expenditure in the third quarter did rise about threefold year over year to $19.6 billion (about 26 trillion won), but the explosive growth of its satellite communications and computing rental businesses is believed to have boosted profitability.

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