SpaceX stock soars on blowout earnings that see revenue surge 161% as Musk talks Tesla merger

SpaceX shares surged in after-hours trading Tuesday after the rocket and satellite giant reported a whopping 161% jump in quarterly revenue — fueled by an AI business that has overtaken its Starlink internet service as the company’s biggest moneymaker.The results came as rumors of a possible SpaceX-Tesla merger have been percolating — and Elon Musk, the CEO of both companies, said on an earnings call that the businesses have formed special committees of independent directors to discuss a possible union “at the request of shareholders.”The multi-billionaire, who said he cannot participate in the talks because of conflicts of interest, nevertheless voiced support for a deal.“Do I think it would be a good idea? Yes,” Musk said, adding that shareholders would ultimately have to approve it.SpaceX raked in $14.58 billion in third-quarter sales, including roughly $7.6 billion from its fast-growing AI division, according to its latest results.That compares with about $5.2 billion generated by its Starlink-led connectivity business — a dramatic shift from 2025, when the division accounted for 61% of the company’s revenue.SpaceX also swung to a net profit of around $4.4 billion from a $541 million loss in the previous quarter, while adjusted earnings before interest, taxes, depreciation and amortization climbed to roughly $8.8 billion.SpaceX shares jumped 4% to $154 in after-hours trading Tuesday, following a regular-session close of $147.79.The earnings blockbuster came four months after SpaceX completed its historic June initial public offering, which raised about $85.7 billion in net proceeds and valued the company at roughly $1.75 trillion.At Tuesday’s closing price, SpaceX commanded an estimated market capitalization of $2.01 trillion — making it worth roughly 13 times as much as Boeing and 16 times as much as Lockheed Martin.The latest results underscore how quickly SpaceX has evolved beyond its traditional rocket-launching business since acquiring...