Elon Musk's SpaceX reports 161% increase in revenue as he hints at a possible merger with Tesla

Russia on Wednesday released an American who had been jailed for more than four years on charges of fighting as a mercenary in Ukraine, in a deal reached during a visit by a top U.S. envoy and at a…

SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications and artificial intelligence businesses boomed. The company, run by Elon Musk, posted a profit for the three months through September of $4.4 billion, or 35 cents per share, reversing a year-ago loss and easily topping Wall Street's expectations. Revenue soared to $14.6 billion, up 161%. On a conference call with analysts, Musk suggested a merger with his electric car company Tesla might be in the works, something that has been rumored for months. He said both companies formed “special committees” of independent directors to discuss the issue, though he played down the chances of an imminent deal. “Some people out there assume that a SpaceX and Tesla merger is a certainty,” he said. “I think that would be overstating it.”The AI business became SpaceX's largest by revenue in the third quarter, although the Starlink satellite service remains the biggest profit generator. “They beat across all metrics and the Starlink business looks to be accelerating,” said Dan Ives, an analyst at Yorkville Ives. “This is just what (Wall) Street wanted.”The stock rose 7.5% in after-hours trading.

SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications and artificial intelligence businesses boomed. The company, run by Elon Musk, posted a profit for the three months through September of $4.4 billion, or 35 cents per share, reversing a year-ago loss and easily topping Wall Street's expectations. Revenue soared to $14.6 billion, up 161%. On a conference call with analysts, Musk suggested a merger with his electric car company Tesla might be in the works, something that has been rumored for months. He said both companies formed “special committees” of independent directors to discuss the issue, though he played down the chances of an imminent deal. “Some people out there assume that a SpaceX and Tesla merger is a certainty,” he said. “I think that would be overstating it.”The AI business became SpaceX's largest by revenue in the third quarter, although the Starlink satellite service remains the biggest profit generator. “They beat across all metrics and the Starlink business looks to be accelerating,” said Dan Ives, an analyst at Yorkville Ives. “This is just what (Wall) Street wanted.”The stock rose 7.5% in after-hours trading.

SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications and artificial intelligence businesses boomed. The company, run by Elon Musk, posted a profit for the three months through September of $4.4 billion, or 35 cents per share, reversing a year-ago loss and easily topping Wall Street's expectations. Revenue soared to $14.6 billion, up 161%. On a conference call with analysts, Musk suggested a merger with his electric car company Tesla might be in the works, something that has been rumored for months. He said both companies formed “special committees” of independent directors to discuss the issue, though he played down the chances of an imminent deal. “Some people out there assume that a SpaceX and Tesla merger is a certainty,” he said. “I think that would be overstating it.”The AI business became SpaceX's largest by revenue in the third quarter, although the Starlink satellite service remains the biggest profit generator. “They beat across all metrics and the Starlink business looks to be accelerating,” said Dan Ives, an analyst at Yorkville Ives. “This is just what (Wall) Street wanted.”The stock rose 7.5% in after-hours trading.

Ohio Democratic gubernatorial candidate Amy Acton's campaign slammed her GOP opponent Vivek Ramaswamy Tuesday, alleging his campaign used her estranged mother, whom she has accused of abusing her and standing by the man who sexually abused her, to urge voters not to support her in the toss-up race. A video that appears to be a campaign ad circulated on social media late Monday showing Acton's mother, Donna Arthur, saying that she loves her daughter, but adds, "Amy has a serious problem" and has lied about her past. ABC News has not been able to verify the content or authenticity of the video, which has been shared by many users online, including Donald Trump Jr. Democratic gubernatorial candidate Dr. Amy Acton speaks at a primary election night campaign event in Columbus, Ohio. AP Photo/Jay LaPreteRamaswamy told reporters on Tuesday that the ad did come from his campaign and that he viewed it as "legitimate. " He said that Acton's mother was not compensated.

Ohio Democratic gubernatorial candidate Amy Acton's campaign slammed her GOP opponent Vivek Ramaswamy Tuesday, alleging his campaign used her estranged mother, whom she has accused of abusing her and standing by the man who sexually abused her, to urge voters not to support her in the toss-up race. A video that appears to be a campaign ad circulated on social media late Monday showing Acton's mother, Donna Arthur, saying that she loves her daughter, but adds, "Amy has a serious problem" and has lied about her past. ABC News has not been able to verify the content or authenticity of the video, which has been shared by many users online, including Donald Trump Jr. Democratic gubernatorial candidate Dr. Amy Acton speaks at a primary election night campaign event in Columbus, Ohio. AP Photo/Jay LaPreteRamaswamy told reporters on Tuesday that the ad did come from his campaign and that he viewed it as "legitimate. " He said that Acton's mother was not compensated.