SpaceX shares jump 10% after earnings beat and Musk hints at Tesla merger

SpaceX shares rose 10.2% in premarket trading Wednesday after the company reported third-quarter revenue of $14.6 billion, up 161% year-over-year and beating analyst estimates, while owner Elon Musk floated a potential SpaceX-Tesla merger. The space company posted net income of $4.4 billion, reversing a $1.05 billion loss from the same period last year. Musk said boards of both companies have formed committees to discuss a consolidation, which would mark the largest merger in history. Tesla shares also rose 2.5% in premarket trading ahead of its own earnings report. SpaceX's Super Intelligence segment, its largest business unit, saw revenue soar ninefold to $7.56 billion. The company forecasts first-quarter 2027 revenue between $33 billion and $37 billion, well above analyst estimates of $22.2 billion.