Space Exploration Technologies (NASDAQ:SPCX) announced its third-quarter results on Oct. 20, and Wall Street was impressed. The company's revenue of $14.6 billion was up 161% year over year, coming in well ahead of analyst estimates. The company also reported a net profit of $4.4 billion, significantly higher than the year-ago net loss of $1.1 billion. SpaceX's strong performance was partly due to its connectivity segment, and this unit is showing promising signs investors shouldn't ignore. Image source: Getty Images. SpaceX's Starlink business provides satellite-based internet connectivity services through a network of Low Earth Orbit satellites. The company has especially targeted customers in underserved areas, at least so far.
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