Elon Musk: This SpaceX moonshot is ‘no longer impossible’ as blowout earnings spark stock market rally

Good news for investors: SpaceX earnings came in a lot hotter than expected—some are even calling it a “blowout,” beating Wall Street expectations. Also on Tuesday, the day of SpaceX’s third-quarter 2026 earnings report, founder and CEO Elon Musk said in a post on his social media platform X: “As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible.” It’s a bold timeline even for the typically audacious Musk, who in August on a second-quarter earnings call was estimating that the trillion-dollar milestone wouldn’t be achievable until 2030, with the caveat that “there’s a non-zero chance of that being in 2029.” Shares of Space Exploration Technologies Corp. (Nasdaq: SPCX) were up more than 10% at the time of this writing on midday Wednesday, after the company reported 161% revenue growth year over year, “fueled by our Super Intelligence (SI) segment and accelerated growth in Connectivity.” “Super Intelligence,” the company’s AI, saw revenue grow ninefold—from $813 million to $7.56 billion—over the same period last year. It’s SpaceX’s largest business, per CNBC. In its second-ever public earnings report, SpaceX announced $14.58 billion in revenue, beating analyst expectations of $12.72 billion, and earnings per share (EPS) of 45 cents adjusted, compared with an expected 13 cents. In a Securities and Exchange Commission release, the company reported operating income of $2.8 billion and net income of $4.4 billion, up from a net loss of $1.05 billion in the same period last year. Another key growth area for SpaceX is its Starlink satellite internet service, which now has a subscriber base of 13.6 million people, up from 12 million in the prior period. Starlink has service in 174 countries and more than 11,000 satellites now in orbit. Looking ahead, Musk hinted at a merger with his other company, ailing automaker Tesla, calling it a “good idea” just ahead of Tesla’s third-quarter earnings report, which the company will announce after today’s closing bell.

Curated from Fast Company. Classified as Business & Technology by AI, which sometimes makes mistakes.

Elon Musk: This SpaceX moonshot is ‘no longer impossible’ as blowout earnings spark stock market rally

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