SpaceX shares rise after earnings beat and higher guidance

Share price reaction

CoinCentral reports that SpaceX stock ended Tuesday at $147.79, down 0.11% on the session. The shares had been little changed before the results were released, slipping $0.17 during regular trading. After the company published earnings, the stock moved up about 2% in after-hours trading, and the gain widened to about 5% after the conference call ended.

Third-quarter results

According to CoinCentral, SpaceX reported third-quarter revenue of $14.58 billion, compared with the $12.7 billion Wall Street consensus cited from Bloomberg. That was up 161% from the same quarter a year earlier. Earnings per share came in at $0.35, above the $0.15 analysts had expected. Adjusted EBITDA reached $8.81 billion, versus a consensus estimate of $6.59 billion. The article also says net income was $4.4 billion.

Spending and operating figures

CoinCentral says capital expenditures totaled $19.59 billion, essentially matching the $19.6 billion forecast. AI-related capex was slightly below expectations at $16.44 billion, versus $16.9 billion anticipated. The report says operating cash flow was $13.1 billion. It also notes segment revenue of $1.8 billion for Space, up 6% year over year, and $5.2 billion for Connectivity.

What drove the revenue growth

The company said it added $6.7 billion in incremental SI solutions and infrastructure revenue compared with a year earlier, according to CoinCentral. The article says SpaceX pointed to cloud services agreements, the acquisition of Cursor, and growth in SI models and software applications, including Grok Bot, as part of that increase.

Guidance and comments on demand

CoinCentral reports that SpaceX expects to spend between $35 billion and $40 billion on capex in the fourth quarter, well above the roughly $20 billion Wall Street had expected. The company also guided first-quarter 2027 revenue to a range of $33 billion to $37 billion, compared with a $22 billion consensus. During the call, Elon Musk said AI spending could pay back in six months. He also said pricing for AI compute is rising and that hyperscalers are asking to rent SpaceX capacity, which he said cannot come online fast enough. Musk added, “I don’t think we’re going to have a demand issue here.”

Market commentary

The article says Barron’s Al Root described the quarter as one that easily beat sales and earnings estimates, regardless of how investors view Musk or AI. CoinCentral presents the earnings report and guidance as the main reason the stock rose after hours.