We are in an inflection moment for SpaceX across launch, connectivity and superintelligence.
Elon Musk said as SpaceX posted a third-quarter profit on Tuesday, October 20, 2026, as revenue surged 161% to $14.58 billion.
Updated October 26, 2026
The aerospace giant turned in a net income of $4.4 billion for the three months ended September 30. This reversed a net loss of $1.1 billion from the same period a year earlier. Analysts surveyed by LSEG had expected revenue of $12.72 billion. IBES calculations put per-share earnings at 45 cents against an average estimate of 13 cents, according to reporting from Reuters.
Our Q3 2026 earnings report is now public → https://t.co/IRQs4EDBsSThe live webcast with @ElonMusk, @Gwynne_Shotwell, and @BretWJ will begin in 30 minutes https://t.co/CGrKBe0lfo
— https://x.com/x/status/2112637394654822514
Super Intelligence Drives Revenue Growth
SpaceX’s AI segment—renamed Super Intelligence, covering cloud services, models, and applications such as Grok—drew much of the quarter’s growth. Revenue rose more than ninefold to $7.6 billion.
Total capital spending nearly tripled to $19.6 billion. AI infrastructure absorbed $16.4 billion of that total, which SpaceX expects to stay near that level in the near future.
We are in an inflection moment for SpaceX across launch, connectivity and superintelligence.
Elon Musk
The connectivity division, anchored by Starlink, generated $5.2 billion in revenue during the latest quarter, SpaceX revealed on Tuesday. Paul Golding is a senior digital infrastructure and payments analyst at Macquarie. Paul Golding noted in a statement to ABC News that Starlink’s acquisition of nationwide, low-band spectrum earlier this month points to an upcoming push by the firm to challenge domestic U.S. mobile carriers. We'll be listening for launch timing, terrestrial build plans and appetite for more spectrum,
Golding said.
Starlink Subscribers Climb
The satellite-internet unit reached 13.6 million subscribers in the third quarter. That outstripped the 12.19 million subscribers analysts had anticipated.
BREAKING: SpaceX stock, $SPCX, rises after reporting stronger than expected Q3 2026 revenue.The company posted $14.6 billion in quarterly revenue. pic.twitter.com/CUH54oTIav
— https://x.com/x/status/2112636186309406789
Scaling that user base internationally through cheaper plans has driven down the average monthly revenue per subscriber. That figure dropped from $99 in 2023 to $69 in the third quarter. Management has signaled that further geographic expansion beyond wealthier nations will likely push average revenue per user lower over time as the company spends heavily on coverage, capacity, and direct-to-device mobile services.
Space Segment Brings Revenue
The space segment—encompassing commercial launches, government missions, and Starship development—brought in $1.77 billion, representing modest 6% growth.
Financial returns for the division fluctuate based on the proportion of government contracts. Financial returns for the division fluctuate based on the proportion of paying commercial flights. Financial returns for the division fluctuate based on the proportion of flights dedicated to expanding its own Starlink constellation, all while the enterprise heavily shoulders the expenses of building Starship.
With AI revenue now the company’s biggest business line, the company’s hyperscale business is quickly providing operating strength and leverage which will carry into the advancements of its satellite and launch business.
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Update (October 26, 2026)
According to CNBC, Elon Musk announced on X that SpaceX has closed $40 billion in debt financing to purchase graphics processing units for artificial intelligence systems. Musk stated that the financing, which primarily consists of callable debt, is expected to arrive in the first and second quarters of 2027. Bloomberg had earlier reported that Goldman Sachs was leading talks with investors, including Apollo Global Management, regarding the financing structure, which utilizes a special purpose vehicle to keep the debt off SpaceX's balance sheet.
Musk noted that debt markets have largely shut off access to financing for companies lacking substantial revenue outside of AI data centers, predicting widespread failures and consolidation among neocloud companies.
