SpaceX reports $4.4 billion profit, explores merger with Tesla
SpaceX posted a $4.4 billion profit in Q3 2026 and Musk said the company is studying a merger with Tesla.
Key facts
- SpaceX earned a $4.4 billion operating profit in Q3 2026 (S1, S2).
- Revenue increased from $5.58 billion to $14.58 billion, above analysts’ $12.7 billion estimate (S1, S2).
- Starlink revenue grew 69 % to $5.2 billion, with 13.6 million customers (S1, S2).
- Musk said SpaceX and Tesla formed special committees to study a merger, but he is not a member due to conflict of interest (S1).
SpaceX announced a $4.4 billion profit for the third quarter of 2026, after a loss of more than $1 billion in the same quarter last year. The company cited growth in its satellite‑internet service Starlink and in artificial‑intelligence data centers as the main drivers.
Revenue for the quarter rose from $5.58 billion a year earlier to $14.58 billion, surpassing the average analyst forecast of $12.7 billion. Starlink revenue climbed 69 % to $5.2 billion, and the service now serves 13.6 million customers.
Musk said that SpaceX and Tesla have created special committees to examine a possible merger, and that approval from at least 50 % of Tesla shareholders would be required. He added that a merger would be a good idea but did not confirm it would happen.
SpaceX’s market value is about $1.9 trillion, while Tesla is valued at roughly $1.48 trillion, making a combined company the largest merger of its kind.
The company’s AI division, SpaceXSI, built large data centers that rent space to rivals such as Anthropic, and reported an operating profit of $431 million after a loss of $1.7 billion a year earlier.
Context
Elon Musk owns both SpaceX and Tesla and has said the companies are forming committees to study a merger. He is not a member of the committees because of a potential conflict of interest. The merger would combine two companies valued at nearly $3.4 trillion.
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