TLDR
- SpaceX (SPCX) posted Q3 revenue of $14.58 billion, up 161% from a year ago and above the $12.7 billion estimate.
- EPS was $0.35 versus $0.15 expected, and adjusted EBITDA was $8.81 billion versus $6.59 billion.
- Q4 capex is planned at $35 billion to $40 billion, against Wall Streetās roughly $20 billion.
- Q1 2027 revenue is guided to $33 billion to $37 billion, versus a $22 billion consensus.
- The stock rose about 2% after the release and about 5% after the call.
SpaceX (SPCX) stock closed Tuesday at $147.79, down $0.17 or 0.11%. The company then reported third quarter results after the bell.
Space Exploration Technologies Corp., SPCX
The stock rose about 2% on the release. It reached roughly 5% once the earnings call ended.
Revenue came in at $14.58 billion, well above the $12.7 billion Bloomberg consensus. That is up 161% from a year ago.
Earnings per share were $0.35, compared with the $0.15 analysts expected. Adjusted EBITDA was $8.81 billion versus $6.59 billion.
Spending landed close to forecasts. Total capex was $19.59 billion against $19.6 billion expected.
AI capex was $16.44 billion, a touch below the $16.9 billion estimate. So SpaceX beat on sales and profit without overspending.
What Drove the Growth
SpaceX added $6.7 billion of incremental SI solutions and infrastructure revenue year over year. It named cloud services agreements and the Cursor acquisition as drivers.
Growing SI models and software applications, including Grok Bot, also helped. That mix gave the quarter its lift.
Al Root, an associate editor covering the call, said SpaceX easily topped Wall Streetās sales and earnings estimates. He added that this holds no matter how investors feel about Musk or AI.
Musk Talks Payback and Demand
On the call, Musk said AI spending could pay back in six months. Paybacks are normally based on cash flow or profit, so that is a quick timeline.
Root gave a simple example. Spending $10 in one year and earning $10 billion the next would be a one-year payback.
Musk said pricing for AI compute is rising. Hyperscalers are asking to rent SpaceX capacity that cannot come online fast enough.
āI donāt think weāre going to have a demand issue here,ā Musk said. Few CEOs put it that plainly.
SpaceX plans to spend $35 billion to $40 billion on capex in the fourth quarter. Wall Street had projected roughly $20 billion.
First quarter 2027 revenue is guided to $33 billion to $37 billion. Analysts were at about $22 billion.
SpaceX stock was up about 2% in after-hours trading before the call and about 5% after it ended. That move came from the $147.79 close.
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