Elon Musk: SpaceX (SPCX.US) Q4 revenue is expected to increase by about 70% quarter-on-quarter, with the proportion of government contract revenue dropping below 10%

Zhihu Finance APP reported that Elon Musk stated on Friday that SpaceX (SPCX.US) will continue to reduce its reliance on U.S. government procurement contracts. Responding to users on social media platform X, he said that payments from government agencies will account for less than 10% of SpaceX's revenue this quarter, compared to 16.6% in the most recent quarter. On the same day, Musk gave an optimistic growth forecast at the Barron Capital Investment Conference, saying that SpaceX's fourth-quarter revenue will increase by “about 70%” compared to the previous three months, and reiterated that the company's annualized revenue this year is expected to reach $10 billion, and exceed $50 billion by the end of 2027. SpaceX closed up 8.62% on Friday.