SpaceX revenue surges 161% in 3rd quarter as AI, Starlink drive growth

By Mucahithan Avcioglu

ISTANBUL (AA) – SpaceX reported a 161% year-on-year increase in third-quarter revenue Tuesday, driven by growth in its artificial intelligence business and rising subscriber numbers at its Starlink satellite internet service.

Revenue totaled $14.58 billion, exceeding analysts' expectations.

The company, with billionaire Elon Musk as its founder, CEO, and largest single shareholder, also reported earnings of $0.35 per share.

SpaceX shares edged higher in extended trading following the results.

Revenue from its AI business climbed 830% from a year earlier to $7.56 billion, accounting for just over half of total quarterly sales. The business includes renting computing capacity to customers as demand for AI infrastructure grows.

The latest results marked a further acceleration from the second quarter, when SpaceX reported revenue growth of 92% to $7.8 billion. The company saw a net loss of $541 million in that period, while adjusted earnings before interest, taxes, depreciation, and amortization reached $3.5 billion.

Although best known for its reusable rockets, SpaceX has expanded its businesses in satellite communications and artificial intelligence.

Its connectivity segment, which includes Starlink, had been a major source of revenue and profit in recent quarters. In the second quarter, the segment saw 66% revenue growth and a 79% increase in operating income, supported by a doubling of Starlink subscribers and stronger enterprise and government business.

SpaceX is also pursuing plans to build a US mobile network through Starlink.

Earlier this month, the company announced a deal to acquire low-band spectrum in the 800-megahertz band. The Federal Communications Commission also approved a plan for a 15,000-satellite constellation, supporting its expansion in mobile communications.

During the third quarter, SpaceX also completed its $60 billion acquisition of AI coding startup Cursor, extending its reach into software development tools powered by artificial intelligence.

Mücahithan Avcıoğlu