SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses.
Elon Musk’s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended in September, far better than analysts’ average projection of $1.88 billion. Revenue increased 161% from a year ago and also beat expectations.

SpaceX shares rose in New York after the close of regular trading.

For instant reaction and analysis, Bloomberg Businessweek Daily guest hosts Norah Mulinda and Alexis Christoforous speak with:
Ed Ludlow, Bloomberg Tech co-host  
George Ferguson, Bloomberg Intelligence Global Head of Aerospace, Defense & Airline Analysis

SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses. Elon Musk&rsquo;s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended in September, far better than analysts&rsquo; average projection of $1.88 billion. Revenue increased 161% from a year ago and also beat expectations.
SpaceX shares rose in New York after the close of regular trading.
For instant reaction and analysis, Bloomberg Businessweek Daily guest hosts Norah Mulinda and Alexis Christoforous speak with:
<ul>
<li>Ed Ludlow, Bloomberg Tech co-host &nbsp;</li>
<li>George Ferguson, Bloomberg Intelligence Global Head of Aerospace, Defense &amp; Airline Analysis</li>
</ul>

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Hosts Paul Sweeney and Scarlet Fu harness the power of Bloomberg Intelligence to analyze investments on Wall Street. Watch Bloomberg Intelligence LIVE on YouTube, weekdays from 10AM to 12PM ET: http://bit.ly/3vTiACF.

Listen for investment news and in-depth company research. Hosts Paul Sweeney and Scarlet Fu harness the power of Bloomberg Intelligence to analyze investments on Wall Street. Watch Bloomberg Intelligence LIVE on YouTube, weekdays from 10AM to 12PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

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Bloomberg Intelligence

Earnings Special: SpaceX Profit Beats Estimates on Big Jump in AI Revenue

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Craig Trudell, Bloomberg Managing Editor of Global Business Coverage, discusses General Motors earnings. GM shares fell as shareholders focused on a narrower profit outlook despite plans for another $20 billion in stock repurchases. The company now sees 2026 adjusted earnings before interest and taxes in a range of $14.5 billion to $15.5 billion, compared with the $14 billion to $16 billion range it projected in July. GM's board approved the new round of buybacks, which will be funded on an ongoing basis over a multi-year period of time, adding to the $29.5 billion already spent by the company buying back its shares since 2023.

-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Salesforce agreeing to buy Braze Inc. for almost $5.7 billion in enterprise value, paying Braze investors $47.50 per share. Braze gathers customer data in real time and uses AI to generate personalized messaging for different media and methods of communication, serving around 2,770 customers. The deal is expected to close in Salesforce’s fiscal 2028 and will be used to bolster several of its products, particularly those for marketing and customer communication via Agentforce.

-Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Nscale being in talks to sell computing power to Anthropic PBC in a deal that could be worth about $45 billion, according to people familiar with the negotiations. The deal would be for a second facility at Nscale's Monarch data center campus in West Virginia, which would deliver 460 megawatts of computing power using Nvidia's advanced Vera Rubin AI chips. A deal could be finalized as soon as in the coming days, but deliberations are ongoing and details of the plan could change, with Nscale still needing to secure financing to fund the supply of AI chips.

-Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses Hasbro earnings. According to Bloomberg Intelligence: Hasbro's raised outlook reflects further strength and better-than-expected growth for Magic: The Gathering, while the Consumer Products unit's 4% net sales increase for 3Q keeps it on track for low-single-digit growth this year. Comparisons will be tougher for both in 4Q, with sales growth likely to decelerate. Earnings in 3Q were aided by $55 million in tariff refunds, with margin pressure also likely to resume in 4Q, especially for the Consumer Products segment.

Watch Paul and Scarlet LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Craig Trudell, Bloomberg Managing Editor of Global Business Coverage, discusses General Motors earnings. GM shares fell as shareholders focused on a narrower profit outlook despite plans for another $20 billion in stock repurchases. The company now sees 2026 adjusted earnings before interest and taxes in a range of $14.5 billion to $15.5 billion, compared with the $14 billion to $16 billion range it projected in July. GM's board approved the new round of buybacks, which will be funded on an ongoing basis over a multi-year period of time, adding to the $29.5 billion already spent by the company buying back its shares since 2023. -Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Salesforce agreeing to buy Braze Inc. for almost $5.7 billion in enterprise value, paying Braze investors $47.50 per share. Braze gathers customer data in real time and uses AI to generate personalized messaging for different media and methods of communication, serving around 2,770 customers. The deal is expected to close in Salesforce&rsquo;s fiscal 2028 and will be used to bolster several of its products, particularly those for marketing and customer communication via Agentforce. -Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Nscale being in talks to sell computing power to Anthropic PBC in a deal that could be worth about $45 billion, according to people familiar with the negotiations. The deal would be for a second facility at Nscale's Monarch data center campus in West Virginia, which would deliver 460 megawatts of computing power using Nvidia's advanced Vera Rubin AI chips. A deal could be finalized as soon as in the coming days, but deliberations are ongoing and details of the plan could change, with Nscale still needing to secure financing to fund the supply of AI chips. -Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses Hasbro earnings. According to Bloomberg Intelligence: Hasbro's raised outlook reflects further strength and better-than-expected growth for Magic: The Gathering, while the Consumer Products unit's 4% net sales increase for 3Q keeps it on track for low-single-digit growth this year. Comparisons will be tougher for both in 4Q, with sales growth likely to decelerate. Earnings in 3Q were aided by $55 million in tariff refunds, with margin pressure also likely to resume in 4Q, especially for the Consumer Products segment.

GM Slides as CEO Barra Warns of ‘Intensifying’ Challenges 

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Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Michael Ball

- Paul Gulberg, Bloomberg Intelligence Senior Equity Analyst, discusses the latest at Blackstone. Blackstone Inc. has raised $8.7 billion for a fund dedicated to cleaner energy, Blackstone Energy Transition Partners V, which is about 55% larger than its predecessor. The strategy invests in a broad range of sectors within the energy industry but generally excludes oil companies, and has already deployed a quarter of its capital into six investments. The new fund has attracted nearly one-third of its money from new investors, with Blackstone committing $150 million to the fund, according to David Foley, global head of the firm’s energy transition business.

-Alex Rajbhandari, Bloomberg US Insurance Reporter, discusses the Bloomberg Big Take story: “For Three Buffets, a $150 Billion Puzzle Over Father’s Riches.” Description: The fate of one of the world’s greatest fortunes will be decided — by three very different siblings, living three very different lives, who didn’t expect to be, or necessarily even want to be, the ones doing the deciding. Warren Buffett, chairman emeritus of Berkshire Hathaway Inc., is worth $150 billion, according to the Bloomberg Billionaires Index. Until recently, a longtime favorite of his, Bill Gates, was taking care of giving most of the money away through his behemoth global foundation. Then came the revelations about Gates’ relationship with Jeffrey Epstein, followed by his divorce from Melinda French Gates and the cleaving of the Gates fortune. After the separation, Buffett removed himself from the foundation’s board of directors, but kept sending them checks. This past July, he changed course. Without much warning, Susie, Howard and Peter became much bigger stewards of his fortune.

-George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses US airlines plan for 4Q capacity growth. According to Bloomberg Intelligence: US airlines' 4Q capacity growth appears too high to achieve the 25-30% higher fares needed to offset elevated fuel costs, constraining profit recovery. At capacity increases well above US GDP growth expectations of 2.1%, it's tough to see fares rise more than 20%, though plans will likely get reduced.

-Ed Ludlow, Bloomberg Tech Host, discusses top tech stories. Anthropic PBC plans to put 5% of its shares into a new public benefit fund to address "the public good", including mitigating AI's impact on the job market. The new Anthropic Public Benefit Fund could allow the company to pursue its mission "in new ways", such as using some of the money to address "labor market impacts". Anthropic said the new fund will be a wholly owned LLC and will grow as the company grows, with none of the Anthropic equity held by the LLC used for lobbying or political giving.

 

 

Watch Paul and Scarlet LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Michael Ball - Paul Gulberg, Bloomberg Intelligence Senior Equity Analyst, discusses the latest at Blackstone. Blackstone Inc. has raised $8.7 billion for a fund dedicated to cleaner energy, Blackstone Energy Transition Partners V, which is about 55% larger than its predecessor. The strategy invests in a broad range of sectors within the energy industry but generally excludes oil companies, and has already deployed a quarter of its capital into six investments. The new fund has attracted nearly one-third of its money from new investors, with Blackstone committing $150 million to the fund, according to David Foley, global head of the firm&rsquo;s energy transition business. -Alex Rajbhandari, Bloomberg US Insurance Reporter, discusses the Bloomberg Big Take story: &ldquo;For Three Buffets, a $150 Billion Puzzle Over Father&rsquo;s Riches.&rdquo; Description: The fate of one of the world&rsquo;s greatest fortunes will be decided &mdash; by three very different siblings, living three very different lives, who didn&rsquo;t expect to be, or necessarily even want to be, the ones doing the deciding. Warren Buffett, chairman emeritus of Berkshire Hathaway Inc., is worth $150 billion, according to the <a href="https://www.bloomberg.com/billionaires" data-web="https://www.bloomberg.com/billionaires" data-bbg="bbg://news/stories/TMFIH0KGZAJV" data-classname="" data-terminal="NSN TMFIH0KGZAJV" data-terminal-subcommand="" data-terminal-link-type="story" data-destination="https://www.bloomberg.com/billionaires">Bloomberg Billionaires Index</a>. Until recently, a longtime favorite of his, Bill Gates, was taking care of giving most of the money away through his behemoth global foundation. Then came the revelations about Gates&rsquo; relationship with Jeffrey Epstein, followed by his divorce from Melinda French Gates and the cleaving of the Gates fortune. After the separation, Buffett removed himself from the foundation&rsquo;s board of directors, but kept sending them checks. This past July, he <a href="https://www.bloomberg.com/news/articles/2026-07-15/buffett-ends-gifts-to-gates-foundation-after-epstein-review" data-web="https://www.bloomberg.com/news/articles/2026-07-15/buffett-ends-gifts-to-gates-foundation-after-epstein-review" data-bbg="bbg://news/stories/TI8BSTT96OSG" data-classname="" data-terminal="NSN TI8BSTT96OSG" data-terminal-subcommand="" data-terminal-link-type="story" data-destination="https://www.bloomberg.com/news/articles/2026-07-15/buffett-ends-gifts-to-gates-foundation-after-epstein-review">changed course</a>. Without much warning, Susie, Howard and Peter became much bigger&nbsp;stewards of his fortune. -George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, &amp; Airlines Analyst, discusses US airlines plan for 4Q capacity growth. According to Bloomberg Intelligence: US airlines' 4Q capacity growth appears too high to achieve the 25-30% higher fares needed to offset elevated fuel costs, constraining profit recovery. At capacity increases well above US GDP growth expectations of 2.1%, it's tough to see fares rise more than 20%, though plans will likely get reduced. -Ed Ludlow, Bloomberg Tech Host, discusses top tech stories. Anthropic PBC plans to put 5% of its shares into a new public benefit fund to address "the public good", including mitigating AI's impact on the job market. The new Anthropic Public Benefit Fund could allow the company to pursue its mission "in new ways", such as using some of the money to address "labor market impacts". Anthropic said the new fund will be a wholly owned LLC and will grow as the company grows, with none of the Anthropic equity held by the LLC used for lobbying or political giving.
&nbsp;
&nbsp;

Blackstone Hauls in $8.7 Billion for Energy Transition Fund 

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Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- David Welch, Bloomberg Detroit Bureau Chief, discusses Tesla holding a product reveal for its long-delayed Roadster sports car, showcasing a prototype with air thrusters that performed aerial stunts. The vehicle, designed in collaboration with SpaceX, features two seats and a Cybertruck-style steer-by-wire system, and is expected to start production in 2028. The Roadster is seen as a way to bring back excitement to the Tesla brand, which has experienced consecutive annual sales declines and criticism over a stagnant product lineup.

- Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Apple. Shipping estimates for Apple Inc.'s first folding phone slipped into January within minutes of the company taking preorders on Friday.  Some customers on social media reported delayed delivery dates for the iPhone Duo, even after taking Apple's recommended steps to speed up the buying process. Apple retail stores ran out of launch-day stock of the iPhone Duo almost instantly after preorders began at 8 a.m. in New York.

- Robert Schiffman, Senior Tech Credit Analyst for Bloomberg Intelligence, discusses CoreWeave. CoreWeave Inc. shares plunged 20% in the first three sessions of the week as its debt tumbled to levels that typically indicate distress. The cost of protecting CoreWeave bonds against default rose to the highest intraday level on record, while swaps priced in a more than 60% chance of a default within the next five years. Despite the concerns, some investors and analysts, including Jensen Huang and Deutsche Bank, expressed confidence in the company, citing its strong customer base and demand for AI computing services.

 

Watch Paul and Scarlet LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu - David Welch, Bloomberg Detroit Bureau Chief, discusses Tesla holding a product reveal for its long-delayed Roadster sports car, showcasing a prototype with air thrusters that performed aerial stunts. The vehicle, designed in collaboration with SpaceX, features two seats and a Cybertruck-style steer-by-wire system, and is expected to start production in 2028. The Roadster is seen as a way to bring back excitement to the Tesla brand, which has experienced consecutive annual sales declines and criticism over a stagnant product lineup. - Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Apple. Shipping estimates for Apple Inc.'s first folding phone slipped into January within minutes of the company taking preorders on Friday.&nbsp; Some customers on social media reported delayed delivery dates for the iPhone Duo, even after taking Apple's recommended steps to speed up the buying process. Apple retail stores ran out of launch-day stock of the iPhone Duo almost instantly after preorders began at 8 a.m. in New York. - Robert Schiffman, Senior Tech Credit Analyst for Bloomberg Intelligence, discusses CoreWeave. CoreWeave Inc. shares plunged 20% in the first three sessions of the week as its debt tumbled to levels that typically indicate distress. The cost of protecting CoreWeave bonds against default rose to the highest intraday level on record, while swaps priced in a more than 60% chance of a default within the next five years. Despite the concerns, some investors and analysts, including Jensen Huang and Deutsche Bank, expressed confidence in the company, citing its strong customer base and demand for AI computing services.
&nbsp;

Tesla Launches Roadster at SpaceX Site in Latest Merger Hint 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b6a78dec-7240-484e-8127-b4e5011396f0/transcript

Earnings Special: SpaceX Profit Beats Estimates on Big Jump in AI Revenue

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