led firm blows past expectations, explores merger with Tesla
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓SpaceX reported third quarter results on Tuesday, October 20, beating expectations with $14.58 billion in revenue.
- ✓The stock jumped over 8% after the firm announced a net profit of $4.4 billion.
- ✓Elon Musk said, "the idea of merging both SpaceX and Tesla is a good one," as committees explore options.
Story at a Glance
- Category
- BUSINESS
- Reported By
- CNBC TV18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Elon Musk-led SpaceX reported its third quarter results after market closing hours on Wall Street on Tuesday, October 20 local time, which were way better than expectations across parameters. The stock jumped over 8% in extended trading after the results announcement.
SpaceX reported revenue of $14.58 billion during the quarter, higher than estimates of $12.72 billion. On a year-on-year basis, SpaceX reported a 161% revenue growth. Earnings Per Share of $0.45 also turned out to be higher than the estimate of $0.13.
Net profit for the quarter stood at $4.4 billion, while analysts had pegged a $1.8 billion figure. During the same quarter last year, SpaceX had reported a net loss of $1.05 billion. Operating profit during the quarter stood at $2.8 billion.
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CNBC TV18
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