Business News | SpaceX Revenue Surges 161% to USD 14.6 Billion in Q3 on SI, Starlink Growth
Get latest articles and stories on Business at LatestLY. Elon Musk-led aerospace giant SpaceX reported a 161 per cent year-on-year jump in revenue to USD 14.6 billion in the July-September quarter, driven by strong growth in its Super Intelligence business and Starlink connectivity services, as the aerospace company swung to a net profit.
Washington [US], October 21 (ANI): Elon Musk-led aerospace giant SpaceX reported a 161 per cent year-on-year jump in revenue to USD 14.6 billion in the July-September quarter, driven by strong growth in its Super Intelligence business and Starlink connectivity services, as the aerospace company swung to a net profit.
According to the company's third-quarter results, revenue rose from USD 5.6 billion in the same period last year. Net income stood at USD 4.4 billion, compared with a net loss of USD 1.1 billion a year earlier. Adjusted EBITDA, a measure of operating performance, increased 306 per cent to USD 8.8 billion from USD 2.2 billion.
The Super Intelligence (SI) segment, which includes computing infrastructure, models and software applications, was the biggest contributor to quarterly revenue growth. Its revenue surged 830 per cent year-on-year to USD 7.6 billion, compared with USD 813 million a year earlier.
SpaceX attributed the increase to new cloud services agreements, its acquisition of Cursor and greater adoption of its Grok products among enterprise customers and consumers. The company said it added USD 6.7 billion in year-on-year revenue from SI solutions and infrastructure.
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The Connectivity segment, led by Starlink, recorded revenue of USD 5.2 billion, up 69 per cent from USD 3.1 billion a year earlier. Its operating income rose 99 per cent to USD 2.4 billion.
Starlink had 13.6 million consumer subscribers as of September 30, compared with 7.2 million a year earlier. The company added 1.6 million subscribers during the quarter, while monthly average revenue per user increased to USD 69 from USD 66 in the previous quarter.
Space-related revenue rose 6 per cent year-on-year to USD 1.8 billion. SpaceX completed 12 customer launches during the quarter and said its first orbital Starship flight delivered 26 Starlink V3 satellites, adding around 10 times the downlink capacity of a Falcon 9 Starlink launch.
The results also reflect a sharp increase in investment. Capital expenditure reached USD 19.6 billion during the quarter, compared with USD 6.9 billion a year earlier, largely reflecting spending on computing infrastructure.
SpaceX CFO said the company was focused on expanding its business while maintaining financial discipline. "We are building the infrastructure of the future with discipline--focused on capital efficiency, strong returns on invested capital, and maintaining a robust, investment-grade balance sheet--while moving with the velocity to capture the opportunity in front of us," the CFO said.
SpaceX said computing capacity reached 1.7 gigawatts as of September 30, up from 0.6 gigawatts a year earlier, as it continued expanding infrastructure to support its Super Intelligence business. (ANI)
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