SpaceX Stock Gets a Shock as Elon Musk Reveals $4.4B Profit

SPCX stock earnings for the third quarter of 2026 beat Wall Street estimates, as SpaceX posted a $4.4 billion profit, its first since it went public in June. The SpaceX Q3 earnings showed revenue of $14.58 billion against the $12.7 billion analysts expected, and the SPCX stock price jumped in overnight trading. The SpaceX earnings report also showed SpaceX revenue growth of 161% year over year, led by AI compute and Starlink.

SPCX Stock Earnings Beat Estimates as Musk Signals Massive Growth

Every main figure in the SPCX stock earnings came in above forecasts. Earnings per share came in at $0.35, more than double the $0.15 estimate, according to Yahoo Finance, and adjusted EBITDA hit $8.81 billion against an expected $6.59 billion.

The SpaceX Q3 earnings also mark a sharp turn from August, when the company reported a $541 million loss for the second quarter, The Washington Post noted.

Commenting on the SPCX stock earnings, SpaceX President Gwynne Shotwell said:

“We had another standout quarter driven by continued growth across our consumer, enterprise, and government businesses.”

What Drove SpaceX Revenue Growth In Q3

Most of the SpaceX revenue growth came from the SI solutions and infrastructure unit, which sells AI compute to outside clients and also runs products like Grok Bot.

CFO Bret Johnsen had this to say:

“For SI solutions and infrastructure, revenues were $7 billion, of which $608 million came from the Cursor acquisition, closed roughly mid-quarter. And even excluding Cursor, SI solutions and infrastructure revenues grew 192% sequentially, driven primarily by the activation of new cloud services agreements.”

Starlink also added 1.6 million consumer subscribers, reaching 13.6 million, according to MarketBeat. Shotwell stated:

“Starlink is now contracted for roughly 12,000 planes, almost a quarter of the available aircraft, and we’re expanding quickly with both new and existing customers.”

That mix of AI and Starlink is the main reason SPCX stock earnings turned positive this quarter, even with SpaceX planning $35 billion to $40 billion in fourth-quarter capex. Keeping them positive depends on that spending paying off.

How The SPCX Stock Price Reacted

The SPCX stock price closed at $147.79 on Tuesday, down 0.11%, before the numbers came out. Investors liked the SpaceX Q3 earnings, and shares gained about 2% right after the SPCX stock earnings release. At the time of writing, the SPCX stock price sat at $161.56 in overnight trading, up 9.32%.

Musk also told analysts that SpaceX and Tesla each formed a special committee of independent directors to study a merger, and he stays out as a conflicted party.

Musk said:

“I don’t think we should necessarily assume that I think some people out there assume that a SpaceX and Tesla merger is a certainty. And I think that would be overstating it. Do I think it would be a good idea? Yes.”

SpaceX shares rose 4% after hours at that point, per Yahoo Finance, and the topic will likely return at the next SPCX stock earnings call.

Musk Sets A Massive Revenue Target For 2027

On the call that followed the SpaceX earnings report, Musk also set a far bigger goal.

Musk stated:

“In a nutshell what this implies for SpaceX annual recurring revenue by the end of [2027] is somewhere between $500 billion and a trillion.”

That compares with the roughly $27 billion SpaceX has booked in 2026 so far, and part of the plan rests on less proven bets, like data centers in space and a Mars colony.

For now, the SpaceX earnings report shows a company that can make money and still spend close to $20 billion a quarter, mostly on AI. If SpaceX revenue growth holds at this pace, the next round of SPCX stock earnings could look even better, but Musk’s target still needs a lot to go right.