Space Exploration Technologies (NASDAQ: $SPCX) Jumps 9.66% as Quarterly Profit Reaches $4.4 Billion and Merger Review Begins
SpaceX shares rose 9.66% to $162.06 in pre-market trading after the company reported its first quarterly profit since its June public listing. Third-quarter net income reached $4.4 billion, compared with a $541 million loss in the previous quarter, while revenue surged 161% year over year to $14.58 billion. Its Super Intelligence division generated $7.56 billion in revenue, accounting for nearly 52% of the total.
CEO Elon Musk also confirmed that independent committees at SpaceX and Tesla are evaluating a possible merger, although no terms have been agreed and the deal is not guaranteed. Musk highlighted potential cooperation in AI, chip design, robotics, and connectivity. Meanwhile, SpaceX projected first-quarter 2027 revenue of $33 billion to $37 billion, while rising investment in computing infrastructure is expected to drive higher capital spending.
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SpaceX shares rose 9.66% to $162.06 in pre-market trading after the company reported its first quarterly profit since its June public listing. Third-quarter net income reached $4.4 billion, compared with a $541 million loss in the previous quarter, while revenue surged 161% year over year to $14.58 billion. Its Super Intelligence division generated $7.56 billion in revenue, accounting for nearly 52% of the total.
CEO Elon Musk also confirmed that independent committees at SpaceX and Tesla are evaluating a possible merger, although no terms have been agreed and the deal is not guaranteed. Musk highlighted potential cooperation in AI, chip design, robotics, and connectivity. Meanwhile, SpaceX projected first-quarter 2027 revenue of $33 billion to $37 billion, while rising investment in computing infrastructure is expected to drive higher capital spending.
#Crypto