SpaceX Beats Quarterly Expectations and Rises in After-Hours Trading; Musk Confirms Committees Are Discussing a Merger with Tesla

SpaceX released its second quarterly earnings report since going public, posting revenue of $14.58 billion and net income of $4.4 billion—both well above Wall Street expectations. Its shares rose about 5% in after-hours trading. On the earnings call, Elon Musk confirmed that both SpaceX and Tesla have formed special committees to discuss a merger, noting that the combination offers significant value, but also cautioning that markets may be overestimating the certainty of a deal.