{
  "id": 15812261,
  "title": "Musk’s SpaceX turns profit as AI cloud deals pay off",
  "url": "https://urgent.news/2026/10/20/musks-spacex-turns-profit-as-ai-cloud-deals-pay-off-15812261",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-20T22:50:32.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/musks-spacex-turns-profit-as-ai-cloud-deals-pay-off/"
  },
  "original_language": "en",
  "account": null,
  "summary": "Elon Musk’s SpaceX has reported its first quarterly profit, posting a net income of $4.4 billion according to Punch Nigeria and Punch. Fortune reports the third quarter net income was $4.4 million, or 35 cents a share, marking a reversal from a net loss of $541 million in the second quarter and a $5.5 billion loss a year ago.\n\nThird quarter revenue rose 161% year-over-year to $14.6 billion, exceeding the $12.86 billion expected by analysts, Fortune reports. This growth was supported by the company's AI segment, renamed “Super Intelligence,” which generated $7.56 billion in revenue. This segment includes computing capacity leased to X, Grok, Google, and Claude-maker Anthropic.\n\nConnectivity revenue, primarily from Starlink, rose 69% to $5.25 billion, while overall Space revenues increased 6% to $1.77 billion, according to Fortune. During the quarter, Starlink added 1.6 million consumer subscribers, a figure that fell below the 2.29 million predicted by analysts. Operating income for the company rose to $2.79 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Fortune",
        "title": "SpaceX posts first operating profit as public company as AI revenue nearly triples to $7.6 billion—cruising past Starlink",
        "url": "https://urgent.news/2026/10/20/spacex-posts-first-operating-profit-as-public-company-as-ai-revenue",
        "published": "2026-10-20T20:32:28.000Z"
      },
      {
        "outlet": "Punch",
        "title": "Musk’s SpaceX turns profit as AI cloud deals pay off",
        "url": "https://urgent.news/2026/10/20/musks-spacex-turns-profit-as-ai-cloud-deals-pay-off",
        "published": "2026-10-20T22:14:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}