SpaceX reported $14.6 billion in Q3 revenue on Tuesday, up 161 percent from a year earlier. The company attributed the increase to its Super Intelligence (SI) business and faster growth in Connectivity.
SI generated $7.6 billion in revenue, an 830 percent year-over-year increase. SpaceX said the growth came mainly from new cloud services agreements taking effect, its acquisition of Cursor, and wider Grok use among businesses and consumers.
The SI business recorded $431 million in income from operations. Connectivity recorded $2.4 billion, while Space posted a $7 million loss from operations.
Connectivity, which includes Starlink, brought in $5.2 billion in revenue. SpaceX reported 13.6 million Starlink consumer subscribers. Its Space business generated $1.8 billion in revenue, up six percent from a year earlier.
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During an earnings call livestreamed on X, Elon Musk said SpaceX would try to catch Starship and its booster next month. He also said Tesla and SpaceX were discussing a possible merger. Musk said Starlink could generate “several hundred billion dollars a year.”
This was SpaceX’s second earnings report since its June IPO. During Q3, the company closed its $60 billion acquisition of AI coding tool Cursor, conducted Starship’s 13th launch, and introduced a new V5 Starlink residential dish.
On the Q2 earnings call, SpaceX president Gwynne Shotwell described plans for a terrestrial mobile network that would compete with T-Mobile, AT&T and Verizon. Tesla, where Musk is also CEO, is scheduled to report earnings on Wednesday.
