SpaceX revenue jumps 92% in first earnings report
The company, led by billionaire founder and CEO Elon Musk, announced on Tuesday that it beat analyst expectations by $1 billion in its first earnings report since going public.
SpaceX's revenue jumped 92% in its first earnings report since going public. The company's revenue beat analyst expectations by around $1 billion, according to Le Monde English.
The growth was driven by Starlink's satellite connectivity service, which had 12 million subscribers, doubling from a year earlier, as reported by Free Malaysia Today. AI computing deals also contributed to the results.
Despite beating expectations, SpaceX shares dropped, with investors remaining skeptical about the company's long-term prospects, according to Free Malaysia Today and Emarketer Senior Analyst Gadjo Sevilla. The company's net loss was reduced to $541 million, and its capital expenditures exceeded $18 billion in the three months ending in June, with over 86% of that spending going to its artificial intelligence division, as per Free Malaysia Today.
Brief written by urgent.news from Le Monde English, TechCrunch, Semafor, Free Malaysia Today, ABC News AU — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- SpaceX revenue jumps 92% in first earnings report freemalaysiatoday.com
