OREANDA-NEWS The revenue of American businessman Elon Musk's SpaceX company reached $ 14.6 billion in the third quarter of this year. This result shows an increase of 161 percent compared to the same period last year, when revenue amounted to 5.6 billion dollars, according to the Financial Times.

The amount received also significantly exceeded the forecasts of market analysts, who expected revenue of $ 12.9 billion.

The corporation's net profit for the period from July to September amounted to 4.4 billion, which significantly exceeded the expectations of Wall Street market participants, who expected revenue of about two billion dollars. For comparison, in the third quarter of the previous year, the company recorded a net loss of 1.1 billion.

The main driver of such a significant improvement in financial results was the sale of services in the field of cloud computing and artificial intelligence. Revenue from this area increased nine-fold year-on-year (from $813 million to $7.6 billion) and tripled compared to the previous quarter's figures of $2.56 billion.

Financial success allowed the company to compensate for large-scale investments in the development of new technologies. SpaceX's capital expenditures increased to $19.6 billion in the reporting period, compared with $18.4 billion in the previous quarter. As noted by the Financial Times, the management, led by Elon Musk, quickly adapted the business model, turning the corporation into an active provider of AI data center services through the conclusion of contracts for the lease of free computing power.