Good news for investors: SpaceX earnings came in a lot hotter than expected—some are even calling it a “ blowout “, beating Wall Street expectations.
Also on Tuesday, the day of SpaceX’s third quarter 2026 earnings report, founder and CEO Elon Musk said in a post on his social media platform X : “As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible.”
It’s bold timeline even for the typically audacious Musk, who, just in August, on a second-quarter earnings call, was estimating that milestone wouldn’t be achievable until 2030, with the caveat “there’s a non-zero chance of that being in 2029.”
Shares of Space Exploration Technologies Corp. ( Nasdaq: SPCX ) were up over 10% at the time of this writing midday on Wednesday, after the company reported 161% revenue growth year-over-year, “fueled by our Super Intelligence (SI) segment and accelerated growth in Connectivity.”
“Super Intelligence,” the company’s AI , saw revenue grow ninefold to $7.56 billion from $813 million in the same period last year. It’s SpaceX’s largest business, per CNBC.
In its second-ever public earnings report , SpaceX reported $14.58 billion in revenue, beating analyst expectations of $12.72 billion, and earnings per share (EPS) of 45 cents adjusted, compared to an expected 13 cents.
In an SEC release , the company reported operating income coming in at $2.8 billion, a net income of $4.4 billion, up from a net loss of $1.05 billion in the same period last year.
Another key growth area for SpaceX is its Starlink satellite internet service, which now has a subscriber base of 13.6 million people, up from 12 million in the prior period. Starlink has service in 174 countries and a total of over 11, 000 satellites now in orbit.
Looking ahead, Musk hinted at a merger with his other company, ailing automaker Tesla , calling it a “good idea” just ahead of Tesla’s third-quarter earnings, which the company will report after today’s closing bell.
