SpaceX reported a sharp increase in third-quarter revenue and a return to profitability as its expanding artificial intelligence business and continued Starlink growth lifted results above Wall Street expectations.
Elon Musk's company generated $14.58 billion in revenue for the three months ended September 30, exceeding analysts' forecast of $12.72 billion. Net income reached $4.4 billion, compared with expectations of $1.57 billion. The results reversed a $541 million loss in the second quarter. Its stock is jumping on Wednesday, climbing almost 8%.
