Musk Forecasts SpaceX Q4 Revenue Up About 70% from Q3, Roughly $2 Billion Above Wall Street Estimates

Elon Musk told an investor conference on November 6 that he expects SpaceX to post fourth-quarter revenue roughly 70% above its third-quarter level, a figure that clears Wall Street's consensus estimate of approximately 57.5% sequential growth by about $2 billion. Musk used the phrase "something like" 70%, signaling a directional projection rather than formal guidance, but the magnitude of the beat implied by the comment was significant enough to move market attention immediately.

SpaceX reported Q3 2026 revenue of $14.6 billion, a 161% year-over-year gain, with net income of $4.4 billion reversing a $1.1 billion loss in the same period a year earlier. A 70% sequential increase from that Q3 base would place Q4 revenue at roughly $24.8 billion. The company's superintelligence infrastructure business contributed $7.6 billion in Q3 revenue alone, surpassing Starlink connectivity as SpaceX's largest revenue segment.