SpaceX posts $4.4bn profit as Starlink and AI leasing drive third-quarter surge
· Business · The Independent, Forbes, ABC News
SpaceX reported a $4.4 billion net profit for the quarter ending September 30, far exceeding analyst projections of $1.57 billion, driven by a 115% revenue increase to $14.58 billion. Starlink subscriber growth pushed the base to 13.6 million, above the 12.19 million forecast, though average monthly revenue per subscriber fell from $99 in 2023 to $69 as the service expands abroad with cheaper plans. The AI business, including xAI's Grok, generated $7.6 billion in revenue chiefly by leasing data-center capacity to rivals such as Anthropic, Google, and Reflection AI, though the unit remains loss-making and requires sustained investment. Capital expenditures surged 189% to $19.6 billion, with $16.4 billion directed at AI infrastructure, reflecting heavy compute spending expected to continue.
Why it matters
SpaceX's profitability signals a turning point for the company as it balances growing Starlink subscriber numbers against declining per-subscriber revenue, while its AI leasing model creates a new revenue stream that may reshape the cloud infrastructure market.
Read the original report — The Independent
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