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Elon Musk: This SpaceX moonshot is ‘no longer impossible’ as blowout earnings spark stock market rally

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Elon Musk: This SpaceX moonshot is ‘no longer impossible’ as blowout earnings spark stock market rally

Good news for investors: SpaceX earnings came in a lot hotter than expected—some are even calling it a “blowout“, beating Wall Street expectations.

Also on Tuesday, the day of SpaceX’s third quarter 2026 earnings report, founder and CEO Elon Musk said in a post on his social media platform X: “As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible.”

It’s bold timeline even for the typically audacious Musk, who just in August, on a second-quarter earnings call, was estimating that milestone wouldn’t be achievable until 2030, with the caveat that “there’s a non-zero chance of that being in 2029.”

Shares of Space Exploration Technologies Corp. (Nasdaq: SPCX) were up over 10% at the time of this writing midday on Wednesday, after the company reported 161% revenue growth year-over-year, “fueled by our Super Intelligence (SI) segment and accelerated growth in Connectivity.”

“Super Intelligence,” the company’s AI, saw revenue grow ninefold to $7.56 billion from $813 million in the same period last year. It’s SpaceX’s largest business, per CNBC.

In its second-ever public earnings report, SpaceX reported $14.58 billion in revenue, beating analyst expectations of $12.72 billion, and earnings per share (EPS) of 45 cents adjusted, compared to an expected 13 cents.

In an SEC release, the company reported operating income coming in at $2.8 billion and a net income of $4.4 billion, up from a net loss of $1.05 billion in the same period last year.


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