21 Hrs
Source:
Sky News
SpaceX shares rise 10% on strong results
SpaceX's strong third-quarter results showed a 161% increase in revenue, reaching $14.6 billion and surpassing analysts' expectations of $12.72 billion, with a net profit of $4.4 billion. Elon Musk announced that he is exploring the possibility of merging SpaceX with Tesla, indicating that such a merger could offer significant advantages and enhance cooperation between the two sectors. The news caused the company's shares to rise by 10.4% before the market opened, with projections that its revenues could reach between $33 billion and $37 billion in the first quarter of 2027. This growth is supported by the expansion of the Starlink satellite internet service and the AI sector, which saw its revenues jump to $7.56 billion.
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