SpaceX Beats Third Quarter Earnings Estimates as Spending Falls Short

SpaceX reported stronger-than-expected third-quarter financial results on Tuesday, October 20, 2026, beating analyst estimates for revenue, earnings per share and adjusted EBITDA while keeping capital expenditures slightly below forecasts. The results, released after the market closed, showed continued financial growth at the aerospace and technology company, while its stock remained little changed following the announcement.

According to figures reported by Yahoo Finance, SpaceX generated $14.58 billion in revenue, exceeding the Bloomberg consensus estimate of $12.7 billion. Earnings per share reached $0.35, more than double the expected $0.15.

Adjusted EBITDA totaled $8.81 billion, surpassing the $6.59 billion forecast. The figures indicate that the company outperformed market expectations across its principal reported earnings measures.

Capital expenditures came in at $19.59 billion, marginally below the $19.6 billion estimate. Spending in the artificial intelligence segment totaled $16.44 billion, compared with the forecast of $16.9 billion, according to Yahoo Finance.

The spending figures show that SpaceX's total capital investment and its AI-related expenditures both fell slightly short of analyst projections. The difference was particularly notable in the AI segment, where reported spending was below the anticipated level.

SpaceX also reported additional revenue from its software and infrastructure operations, attributing the increase to cloud services agreements, the acquisition of Cursor, and the expansion of its AI models and software applications.

The company said it added $6.7 billion of "incremental SI solutions and infrastructure revenue year-over-year, driven by cloud services agreements, the acquisition of Cursor, and our growing SI models and software applications, including Grok Bot."

The reported increase highlights the contribution of cloud services, acquisitions and software products to the company's year-over-year revenue growth in these operations. SpaceX's disclosure specifically identified Grok Bot among the applications included in that expansion.

Despite the earnings and revenue beats, SpaceX shares were little changed after the results were released, according to Yahoo Finance. The stock trades under the ticker symbol SPCX.