SpaceX Beats Q3 Estimates, Targets Up to $40 Billion in Q4 Capex

SpaceX posted third-quarter 2026 earnings of $0.35 per share on revenue of $14.58 billion, topping analyst consensus forecasts of $0.10 and $12.54 billion. Consolidated revenue climbed 161% year over year as operating income reached $2.8 billion, swinging from a $273 million operating loss a year earlier. Results were driven by a 69% increase in Starlink revenue to $5.2 billion and an 830% surge in Super Intelligence revenue to $7.6 billion. Management projected fourth-quarter capital expenditures of $35 billion to $40 billion following third-quarter capex of $19.6 billion, while shares remained down about 38% from their June high.