On October 15, Elon Musk unveiled a prototype of Tesla’s next-generation Roadster at a SpaceX testing facility in Texas, demonstrating a flying car that used SpaceX’s rocket technology to launch and land safely. This ambitious project follows Musk’s history of revolutionary innovations and lofty timelines, with the Roadster initially announced in 2017 but not yet available for purchase.
SpaceX reported impressive third-quarter results on October 10, with revenue soaring 161% year-over-year to $14.6 billion, surpassing analysts’ expectations. The company also achieved its first quarterly profit since going public, earning $4.4 billion or $0.35 per share. SpaceX’s AI division generated $7.6 billion, representing an 830% increase from the previous year.
Tesla’s third-quarter results, reported on October 11, showed revenue of $28.05 billion, slightly short of expectations. While earnings per share were $0.48, a decrease from the previous year, the company generated $1.53 billion in positive free cash flow, exceeding analysts’ predictions. Musk also hinted at a potential merger between SpaceX and Tesla, stating that both companies have formed independent committees to explore this prospect.
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