SpaceX shares rise following third quarter earnings and revenue beat

SpaceX shares rose 1.5 percent in extended trading on Tuesday after the rocket launch and satellite communications company reported third-quarter earnings and revenue that exceeded Wall Street estimates, TradingView reported. The financial performance was fueled by rapid expansion in the artificial intelligence division of the company. [1]

The company reported net income of 4.4 billion dollars, or 0.35 dollars a share, according to TradingView. This exceeded the consensus estimate from analysts of 0.16 dollars a share by 0.19 dollars. The result reverses a net loss of 1.1 billion dollars recorded during the same period in the previous year. [1]

SpaceX completed its initial public offering in June 2026, pricing 555.6 million shares of Class A common stock at 135 dollars per share to raise 75 billion dollars. That transaction valued the business at 1.77 trillion dollars, making it the largest initial public offering in history. Earlier in February 2026, SpaceX acquired xAI and later rebranded it as SpaceXAI in July 2026. SpaceXAI operates the social media platform X, the AI-generated encyclopedia Grokipedia, and acquired the AI coding startup Cursor for 60 billion dollars in August 2026. [1][3]

Elon Musk remains the wealthiest person in the world, holding an estimated net worth of 1.04 trillion dollars according to the Bloomberg Billionaires Index, or 1.1 trillion dollars according to Forbes, as of October 6, 2026. His wealth stems primarily from his ownership stakes of 42 percent in SpaceX and 20 percent in Tesla. [2]