SpaceX reported $4.404 billion in third-quarter net income after a year-earlier loss, while CEO Elon Musk said board committees reviewing a potential merger with Tesla have not agreed on terms.
In results filed with the SEC on Oct. 20, the company reported $14.575 billion in revenue for the three months ended Sept. 30, up 161% from $5.576 billion a year earlier. SpaceX had recorded a $1.054 billion net loss in that earlier quarter. Diluted earnings per share for the latest quarter were 35 cents.
Capital expenditures reached $19.593 billion, compared with $18.369 billion in the second quarter. The Super Intelligence segment accounted for $16.444 billion of the third-quarter total.
SpaceX reported $7.560 billion in Super Intelligence sales and $5.248 billion from Connectivity. Connectivity produced more operating income, at $2.367 billion, than Super Intelligence’s $431 million. The Space segment had a $7 million operating loss on $1.767 billion in sales.
Starlink had 13.6 million consumer subscribers as of Sept. 30, a gain of 1.6 million since June 30, SpaceX said. Starlink consumer monthly average revenue per user was $69 for the quarter.
Musk said shareholder requests were behind the decision to have special committees of independent directors at each company discuss a possible combination. The committees have not settled on transaction terms, he said, adding there was “no guarantee” they would reach an agreement.
As reasons to consider a combination, Musk cited possible cooperation in superintelligence software, chip design, Terafab, robotics and connectivity. Those possibilities are separate from any agreed transaction terms.
Tesla is scheduled to release its third-quarter results after the U.S. market closes Wednesday, Oct. 21, followed by a webcast at 5:30 p.m. ET (21:30 UTC).
