Is SpaceX Burning Too Much Cash? Q3 Earnings Analysis

SpaceX reported third-quarter results that beat Wall Street expectations, and AI was its biggest source of revenue. AI revenue came in at $7.56 billion, ahead of connectivity revenue of $5.25 billion, which also topped estimates of $4.9 billion. Net income of $4.4 billion more than doubled the roughly $1.9 billion analysts expected, and adjusted EBITDA of $8.81 billion beat estimates of $6.59 billion. Total costs and expenses ran higher than expected at $11.8 billion, while capital spending came in just below estimates. Yahoo Finance's Jared Blikre breaks down the numbers and explains why he now calls SpaceX an AI company. Market Domination, (Source: Yahoo Finance | Region: New York, USA)