SpaceX earnings soar past expectations

SpaceX rocketed past expectations on revenue and profit in its second earnings report as a publicly traded company — with its space, connectivity and AI businesses all delivering strong performances.Why it matters: With a market cap of about $2 trillion, SpaceX is one of the most powerful companies in the AI economy and has aggressive plans to uproot entire industries, such as telecommunications.Driving the news: SpaceX reported revenue of $14.58 billion in the third quarter of 2026, about $9 billion more than the same period in 2025.That crushed S&P Capital IQ expectations of $13 billion.The company also swung from a $1.05 billion net loss a year earlier to a $4.4 billion profit in the third quarter, more than doubling consensus expectations of $2.12 billion.In all three of its divisions, SpaceX topped expectations, posting:AI revenue of $7.56 billion, nearly tripling its year-ago performance and beating S&P Capital IQ consensus expectations of $6.47 billion.Connectivity revenue of $5.25 billion, topping expectations of $4.9 billion.Space revenue of $1.77 billion, outpacing expectations of $1.46 billion.The big picture: The report comes amid mounting scrutiny over the sustainabil…

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