Elon Musk-led SpaceX revenue soars 161%

What happened: SpaceX reported a 161% revenue increase for the quarter ending in September versus a year earlier, driven largely by AI and Starlink expansion. It posted overall profit of $4.40 billion, its second-ever quarterly report since going public in June. Key numbers: Revenue up 161%. Why it matters: The results marked a turn into profitability after a loss in the prior quarter, and the AI unit swung to positive operating income. Analysts flagged Starlink's spectrum acquisition as a signal of intent to compete with U.S. mobile carriers. Coverage: 13 outlets in 24h

SpaceX reported a 161% revenue increase for the quarter ending in September versus a year earlier, driven largely by AI and Starlink expansion. It posted overall profit of $4.40 billion, its second-ever quarterly report since going public in June.

The results marked a turn into profitability after a loss in the prior quarter, and the AI unit swung to positive operating income. Analysts flagged Starlink's spectrum acquisition as a signal of intent to compete with U.S. mobile carriers.