SpaceX turns a profit after a string of losses as its satellite and computer leasing businesses soar

SpaceX reported a larger-than-expected quarterly profit on Tuesday, marking a turnaround following a string of prior losses. The financial growth was driven by soaring performance in the company's satellite communications operations and its business of leasing computing power to other companies.

Led by Elon Musk, the company posted positive net income during the recent three-month period. This financial milestone underscores the growing commercial success and revenue diversification of SpaceX beyond its traditional aerospace and launch services.