Business & Finance · October 21, 2026
SpaceX up over 8% in premarket after earnings beat and Musk hints at Tesla tie-up
SpaceX shares rose between 8% and 10% in premarket trading following a third-quarter earnings report that exceeded analyst expectations. The company reported $14.6 billion in revenue, a 161% increase year-over-year, and a net profit of $4.4 billion. During an earnings call, CEO Elon Musk confirmed that both SpaceX and Tesla have formed special committees of independent directors to explore a potential merger. Musk expressed support for the tie-up, highlighting potential synergies in AI software, chip design, and robotics, though he noted that as a "conflicted party," he is not participating in the committee's formal discussions.
Read the original coverage
SpaceX Boosts the A.I. Rally
Read at The New York Times ↗Stock Market Today: SpaceX Shares Surge After Tesla Deal Talks
Read at Wall Street Journal ↗Stocks Climb as SpaceX Results Reignite AI Trade: Markets Wrap
Read at Bloomberg ↗- The GuardianMainstream
Tesla and SpaceX explore merger as Elon Musk gives backing
Read at The Guardian ↗ - AxiosMainstream
Space X and Tesla exploring merger, CEO Elon Musk says
Read at Axios ↗ - New York PostTabloid
SpaceX stock soars on blowout earnings that see revenue surge 161% — as Musk talks Tesla merger
Read at New York Post ↗ - CNBCMainstream
SpaceX stock jumps 10% after earnings beat and Musk hints at Tesla tie-up
Read at CNBC ↗ - Business InsiderMainstream
Elon Musk says SpaceX hitting $1 trillion in revenue in 2028 is 'no longer impossible'
Read at Business Insider ↗
Reported by multiple outlets
- SpaceX reported third-quarter revenue of approximately $14.6 billion.
- Revenue grew 161% compared to the same period in the previous year.
- The company recorded a net profit of roughly $4.4 billion for the quarter.
- Special committees of independent directors have been formed at SpaceX and Tesla to discuss a merger.
- Elon Musk stated he is a 'conflicted party' and cannot participate in committee discussions.
- Musk publicly voiced support for the merger, calling it a 'good idea.'
Reported by only some outlets
- SpaceX's AI division generated roughly $7.6 billion in revenue, surpassing Starlink's $5.2 billion.
- SpaceX went public (IPO) in June 2026.
- LSEG consensus estimates for revenue were $12.72 billion.
- Musk suggested SpaceX reaching $1 trillion in revenue by 2028 is 'no longer impossible.'
- Tesla shareholders have historically followed Musk’s wishes regarding company decisions.
Industry-friendly coverage frames it as…
emphasize the synergistic benefits of merging SpaceX and Tesla's AI, robotics, and chip divisions to accelerate technological growth
Skeptical / consumer coverage frames it as…
highlight potential conflicts of interest given Musk's leadership of both firms and the massive scale of the proposed transaction
Numbers that differ
- Stock price increase: CNN reports over 8%; CNBC reports 10%.
- Q3 Revenue: CNBC reports $14.6 billion; New York Post reports $14.58 billion.
- Prior period loss: CNBC cites a $1.05 billion loss a year earlier; New York Post cites a $541 million loss in the previous quarter.
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