SpaceX up 10% in premarket after earnings beat and Musk hints at Tesla tie-up — SkimNews
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- SpaceX rose 10.2% in premarket after reporting Q3 revenue of $14.6 billion, up 161% year-over-year and beating LSEG consensus of $12.72 billion; operating income hit $2.8 billion with net income of $4.4 billion, reversing a $1.05 billion year-ago loss
- Elon Musk said on the earnings call that boards of both SpaceX and Tesla have created specific committees to discuss a combination, calling it potentially 'the largest merger in history' and citing 'the superintelligence singularity' as rationale
- Tesla shares climbed 2.5% in premarket ahead of its own Q3 earnings release after Wednesday's closing bell
- SpaceX's Super Intelligence (SI) segment revenue surged ninefold to $7.56 billion from $813 million a year earlier, making it the company's largest business unit
- SpaceX forecast Q1 2027 revenue of $33–37 billion, more than 50% above the $22.2 billion analyst consensus from LSEG
- Truist Securities analysts called SpaceX's quarter 'the first data point during the earnings season to support the bull case for AI cloud providers,' saying demand appears 'insatiable'
Why it matters: SpaceX's $33–37 billion Q1 2027 revenue forecast runs roughly 50% above analyst estimates, and its AI segment alone is now generating $7.6 billion per quarter — meaning the company is being repriced as a cloud-computing business, not just a launch provider. Musk's call for a Tesla combination would fuse that AI compute with Tesla's manufacturing base and balance sheet, creating an entity whose size would dwarf every prior deal in history.
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