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SpaceX rises 8% premarket after earnings beat; Musk floats Tesla merger
SpaceX rose more than 8% in Wednesday premarket trading after reporting third-quarter revenue of $14.6 billion, up 161% year over year and above LSEG's consensus of $12.72 billion. Operating income was $2.8 billion and net income was $4.4 billion, compared with a net loss of $1.05 billion in the same period a year earlier. On the earnings call, Elon Musk said he is considering a combination with Tesla and that the boards of both companies have created specific committees to discuss a consolidation.…
- Q3 revenue of $14.6 billion, up 161% year over year, beats $12.72 billion estimate
- Musk floats Tesla merger; both boards' committees are studying consolidation
🔎 Why it matters: On the earnings call, Musk said he is considering combining SpaceX with Tesla, which the article says would be the largest merger in history. The text reports no agreement or terms. The Super Intelligence segment, with $7.56 billion in revenue, is SpaceX's largest business unit.
📈 Upside: The Super Intelligence segment rose from $813 million to $7.56 billion, nearly ninefold year over year.
📉 Risk: The Tesla combination is only under consideration: no agreement or timeline has been announced.
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