On Tuesday local time, SpaceX announced its third-quarter earnings report, with revenue reaching $14.6 billion, a year-on-year increase of 161%. The company stated that this was mainly due to "accelerated growth in the Super Intelligence (SI) business segment and the Connectivity business segment." Although its space division reported an operating loss of $7 million, the Connectivity business segment generated $2.4 billion in revenue, and the Super Intelligence business segment generated $431 million in revenue.
The company's so-called "System Integration" (SI) business revenue reached $7.6 billion, a year-on-year increase of 830%, mainly benefiting from "the activation of new cloud service agreements, the acquisition of Cursor, and the popularity of Grok among enterprise customers and consumers." SpaceX's connectivity business revenue was $5.2 billion, with 13.6 million Starlink consumer users. Space business revenue was $1.8 billion, a year-on-year increase of 6%.
SpaceX live-streamed its earnings call video on X, where Elon Musk stated that SpaceX will attempt to catch Starship and its booster next month, Tesla and SpaceX are discussing a possible merger, and its Starlink connectivity business can generate "hundreds of billions of dollars" in annual revenue.
This is SpaceX's second earnings report since its IPO in June. Previously, the rocket, artificial intelligence, and social media company under Elon Musk was very active in the third quarter, including officially completing the $60 billion acquisition of AI coding tool Cursor, the 13th launch of SpaceX's Starship, and the launch of the new V5 Starlink home antenna.
During the second-quarter earnings call, President Gwynne Shotwell introduced the company's plan to build a terrestrial mobile network to compete with T-Mobile, AT&T, and Verizon. In its second-quarter earnings report, SpaceX also pointed out that its "Connectivity" business (including Starlink) did not incur losses, while its artificial intelligence and space businesses incurred losses.
Tesla, where Musk serves as CEO, will announce its earnings report on Wednesday.