Changes in US stocks | Q3 revenue surged 161% year on year, SpaceX (SPCX.US) surged more than 10%

The Zhitong Finance App learned that SpaceX (SPCX.US) surged more than 10% to $163.18 on Wednesday. According to the news, Musk's SpaceX achieved impressive results that crushed Wall Street expectations. SpaceX announced that as of the third quarter of 2026 in September, the company's revenue increased 161% year-on-year to US$14.58 billion, more than 10% higher than analysts' expectations of US$12.8 billion; net profit of US$4.4 billion, 2.3 times analysts' expectations of US$1.88 billion; and adjusted EBITDA profit surged 306% yoy to US$8.81 billion, more than 30% higher than expected.

Musk revealed during the conference call that the boards of SpaceX and Tesla have set up a special committee to discuss the merger. He emphasized that the merger has many advantages, but made it clear that it is yet to be determined and that shareholder support is still needed. SpaceX's growth this quarter was mainly driven by the super-smart business. The business's revenue was 7.56 billion US dollars, up about 830% year over year, accounting for about 52% of total revenue, making it the company's largest source of revenue for the first time.

Looking at the breakdown, the connectivity business with Starlink as its core contributed 2,367 billion US dollars in operating profit, and is still the company's profit ballast stone. The AI business changed from operating losses of US$1,257 million in the second quarter to profits of US$431 million, which became the biggest variable driving the reversal of the Group's performance. At the same time, the space launch business has also drastically narrowed operating losses to 7 million US dollars, which is close to the break-even line.