Musk: SpaceX (SPCX.US) Q4 revenue expected to grow about 70% quarter-over-quarter; government contract revenue share to fall below 10%

Zhitong Finance APP has learned that Elon Musk said on Friday that SpaceX's (SPCX.US) reliance on U.S. government procurement contracts will continue to decline. In response to users on the social media platform X, he said that payments from government agencies will account for less than 10% of SpaceX's revenue this quarter, compared with 16.6% in the most recent quarter. On the same day, at the Baron Capital investment conference, Musk gave an optimistic growth forecast, saying that SpaceX's fourth-quarter revenue will grow "about 70%" compared with the previous three months, and reiterated that annualized revenue is expected to reach $100 billion this year and exceed $500 billion by the end of 2027. SpaceX closed up 8.62% on Friday.