SpaceX profit lifts global tech stocks

channelnewsasia.com —

Global stock markets rose Wednesday, boosted by SpaceX reporting its first quarterly profit as a publicly traded company, lifting technology shares worldwide. SpaceX's net profit of $4.4 billion for July-September more than doubled analyst expectations, with revenue soaring 161 percent to $14.6 billion. Its shares jumped nearly eight percent, and the results lifted the Nasdaq, which ended up 1.1 percent. The earnings came ahead of results from other tech giants, including Meta. Markets in Japan, South Korea, and the UK also rose, while France's Carrefour plunged over 13 percent after warning protests would dent profits.


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