SpaceX Just Crushed Wall Street’s Q3 Targets — but a Potential Tesla Merger Is Even Bigger News
Space Exploration Technologies (NASDAQ: SPCX) reported its third-quarter results after the market closed on the Tuesday, and the company’s sales and earnings were far better than expected. The company posted non-GAAP (adjusted) earnings per share of $0.45 on sales of $14.58 billion. Meanwhile, the average analyst estimate had called for adjusted earnings per share of $0.13 on revenue of $12.72 billion.
The earnings report crushed Wall Street’s targets and sparked a surge in bullish momentum for SpaceX stock. The impressive sales and earnings performance shows that SpaceX is expanding rapidly and profitably. But as strong as the company’s third-quarter earnings report was, CEO Elon Musk made some comments during the company’s conference call that may be even more significant for shareholders. He implied that there’s a real possibility that the company will be merged with Tesla (NASDAQ: TSLA).
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