SpaceX shares surged in premarket trading on Wednesday after the company reported stronger-than-expected third-quarter results and CEO Elon Musk raised the possibility of a merger with Tesla.
The space company posted revenue of $14.6 billion for the quarter, up 161% year over year and above analysts' consensus estimates. Operating income reached $2.8 billion, while net income totaled $4.4 billion, reversing a $1.05 billion loss reported a year earlier.
Speaking on the earnings call, Musk said a merger with Tesla could offer significant benefits, citing opportunities for closer cooperation in superintelligence (AI). He added that both companies' boards had established committees to discuss a potential tie-up, which would be the largest merger in history.
https://breakingthenews.net/Article/SpaceX-up-10-premarket-on-earnings-Tesla-tie-up-hint/67362782
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