Earnings recap🔒 Portfolio Pro

Earnings Recap: SpaceX Swings to Profit as Super Intelligence Leads

Mitesh Patel · Oct 21, 2026 · 8 min read

SpaceX's revenue rose 161% to $14.6 billion and it earned $4.4 billion, after a loss a year earlier. Its Super Intelligence business, the old xAI, is now more than half of revenue.

The Quarter in Brief

SpaceX reported its third quarter of 2026, the three months ended September 30, after the market closed on October 20. It was the company's second report since its listing in June. Revenue was $14.58 billion, up 161% from $5.58 billion a year earlier. Diluted earnings per share, as reported, were $0.35, against a loss of $0.36 a share. Net income was $4.40 billion, after a loss of $1.05 billion.

Both figures were well ahead of expectations: analysts had expected about $12.87 billion of revenue and earnings of about $0.13 a share, according to Financial Modeling Prep's consensus. What made the quarter different was the Super Intelligence (SI) segment, the artificial intelligence business that came with xAI and X. Its revenue rose to $7.56 billion from $813 million, and for the first time it supplied more than half of the company's revenue.

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