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SpaceX shares rise 10% following $14.6 billion quarterly revenue
SpaceX shares rose 10% following the report of $14.6 billion in quarterly revenue.
Key points
- SpaceX reported third-quarter revenue of $14.6 billion, a 161% increase from the previous year.
- Elon Musk announced that SpaceX and Tesla boards have created committees to discuss a potential merger.
- SpaceX forecasts first-quarter 2027 revenue between $33 billion and $37 billion.
Why it matters. A potential merger between SpaceX and Tesla would mark the largest merger in history.
SpaceX shares rose 10% after the company reported third-quarter revenue of $14.6 billion, exceeding LSEG consensus estimates. Owner Elon Musk stated on an earnings call that he is considering a merger with Tesla, noting that boards for both companies have created committees to discuss consolidation. SpaceX also forecast first-quarter 2027 revenue between $33 billion and $37 billion.
Latest updates
SpaceX shares rise 10% following $14.6 billion quarterly revenue
SpaceX shares jumped 10% on the Nasdaq following a strong third-quarter earnings report. The company reported revenue of $14.6 billion, continuing a trend of surging growth since its record-breaking initial public offering in June. During the announcement, owner Elon Musk floated the possibility of a merger between SpaceX and Tesla. The news contributed to a broader rally on the Nasdaq index.
SpaceX stock jumps 8% after earnings beat and Musk hints at Tesla tie-up
SpaceX stock jumped 8% on Wednesday after the company reported third-quarter revenue of $14.6 billion, a 16% increase from a year earlier and above analyst forecasts. The results follow SpaceX's record-breaking Nasdaq debut in June, the largest IPO in history. CEO Elon Musk added to the momentum by floating the possibility of a merger between SpaceX and Tesla, though he offered no timeline or terms. Investors responded by pushing shares higher in heavy trading. The company attributed the revenue growth to expanded launch services and its Starlink satellite internet business.