SpaceX Financial report exceeds expectations, Musk hints at possible merger with Tesla, shares surge 9% before trading begins
The Block
1h ago
Ai Focus
Before the market opened on Wednesday, the stock price of SpaceX soared significantly. The company announced third-quarter revenue of $14.6 billion, a year-on-year increase of 161%, exceeding the consensus expectations of the media; Musk stated during the financial report conference call that he is considering merging with Tesla. The company also provided a revenue guidance range for the first quarter of 2027 of $33 billion to $37 billion.
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Before the market opened on Wednesday, the stock price of SpaceX soared significantly. The company announced a substantial increase in revenue for the third quarter, and its CEO, Elon Musk, also hinted at the possibility of a merger between SpaceX and Tesla.

This aerospace company went public on NASDAQ in June this year, completing the largest IPO in history. The company disclosed on Tuesday that its revenue for the third quarter was $14.6 billion, a significant increase of 161% year-on-year, exceeding the media's consensus forecast of $12.72 billion.

The current period's operating profit was 2.8 billion US dollars, with a net profit of 4.4 billion US dollars; in the same period last year, the company incurred a net loss of 1.05 billion US dollars.

At the financial report conference call, Musk stated that he is considering merging with Tesla, which could become the largest merger in history; both companies' boards of directors have established special committees to discuss integration plans.

During the phone call, Musk stated, "I truly believe that the merger of the two companies holds great value. We are almost at the stage of superintelligence singularity, and cooperation between us could yield tremendous benefits." Tesla will release its third-quarter financial report after the market closes on Wednesday.

Before the market opened on Wednesday, the stock price of SpaceX rose by over 9%.

The company expects its revenue for the first quarter of 2027 to be in the range of $33 billion to $37 billion, which is higher than the average forecast of $22.2 billion by analysts as reported by the media.

SpaceX Chief Financial Officer Brett Johnson stated in the financial report: "We delivered another strong third quarter. Driven by the continuous growth of the Starlink business and a clear turning point for the Super Intelligence (SI) business, revenue increased by 161% year-on-year, showing impressive performance."

Johnson attributed his impressive performance to the ongoing revenue generated by the satellite internet business Starlink, as well as the large-scale expansion of the Super Intelligence ( SI ) infrastructure.

SpaceX has made a deep investment in artificial intelligence business this year and named this segment 'Super Intelligence' (SI). Currently, this segment has become the company's largest business unit, with revenue in the third quarter soaring ninefold from $813 million in the same period last year to $7.56 billion.

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