Story perspectives

SpaceX Posts First Profit as Shares Jump 9%

By Drooid · Oct 21, 2026, 2:23 PM UTC · How we work

Summary

Story summary

SpaceX posted its first profit, earning $0.35 per share on $14.58 billion revenue.
SpaceX shares surged 9% in pre-market trading after the earnings beat.
AI compute segment drove revenue growth, prompting SpaceX CEO Elon Musk to project $1 trillion recurring revenue by 2028.
Super Micro Computer rose 10.9% after raising its AI-related revenue and margin outlook.
Brent crude crossed $110 per barrel after Iran’s Revolutionary Guards blocked tankers in Strait of Hormuz.

History

Historical Context

During the October 1973 OAPEC embargo, Saudi Arabia, Iran and other producers cut output, driving crude from $3 to nearly $12 per barrel—a 300% jump that sparked the first oil shock and inflation. The same pattern of geopolitical supply cuts resurfaced in 2024 when Iran’s Revolutionary Guards blocked Hormuz, pushing Brent above $110 and prompting investors to reassess risk in energy and aerospace firms like SpaceX.

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Story summary

SpaceX posted its first profit, earning $0.35 per share on $14.58 billion revenue.
SpaceX shares surged 9% in pre-market trading after the earnings beat.
AI compute segment drove revenue growth, prompting SpaceX CEO Elon Musk to project $1 trillion recurring revenue by 2028.
Super Micro Computer rose 10.9% after raising its AI-related revenue and margin outlook.
Brent crude crossed $110 per barrel after Iran’s Revolutionary Guards blocked tankers in Strait of Hormuz.

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