{
  "id": 147537,
  "title": "SpaceX's first-ever earnings show higher revenues and huge spending",
  "url": "https://urgent.news/2026/08/04/spacexs-first-ever-earnings-show-higher-revenues-and-huge-spending-147537",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-04T21:57:19.000Z",
  "source": {
    "name": "BBC Science",
    "slug": "bbc-science",
    "url": "https://www.bbc.co.uk/news/articles/c0qvpveg20vo?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "SpaceX has released its initial quarterly earnings report, revealing a doubling of revenue while expenses surged dramatically. The aerospace company, led by Elon Musk, specializes in rocket manufacturing and Starlink internet satellites, in addition to owning the social media platform X. SpaceX made its debut on the US stock market in June. According to the report, revenue soared 92% to $7.8bn (£5.8bn) compared to the previous year, but spending increased by more than 550% to $18.3bn, resulting in a net loss of $2bn for the first half of the year. Following the release, SpaceX's stock dropped nearly 9% in post-market trading.\n\nMusk addressed the lower stock performance during a call with financial analysts and investors, asserting that many people may be underestimating the company's potential. He highlighted Starlink, the only business within SpaceX currently generating profits, which generated $1.6bn during the second quarter. Musk predicted exponential growth for this segment in the years to come. He also mentioned the rapid expansion of SpaceX's new line of business, providing compute power for artificial intelligence (AI) projects for other companies, including Google and Anthropic. Currently, SpaceX possesses 1.4 gigawatts of such compute power, with Musk projecting it to grow to at least 10 gigawatts by next year as they continue developing data centers.\n\nDuring the call, Musk remarked, \"Data centers are a trivial problem compared to making reusable rockets.\" While SpaceX's core business focuses on rocket manufacturing, the company's space segment reported a $542m net loss alongside $962m in revenue for the second quarter. SpaceX's AI business also suffered a $1.2bn loss during the quarter, with $2.5bn in revenue. Bret Johnson, SpaceX's head of finance, mentioned during the call that capital spending would remain at a similar level throughout the rest of the year. Musk, however, expressed optimism, stating that SpaceX could reach $1tn in revenue by 2030, a year earlier than he anticipated six weeks prior.\n\nDespite the company's bullish outlook, SpaceX's stock continued to decline in after-hours trading on Tuesday, erasing the gains made during the day. Since its historic initial public offering and briefly surpassing larger, established companies like Microsoft and Amazon in total market valuation, SpaceX has faced challenges in maintaining investor enthusiasm. Its stock has gradually declined since reaching an all-time high of $176 in June, trading below its original $135 per share debut price for several weeks.",
  "summary": "Elon Musk's company has struggled to maintain investor enthusiasm that greeted its stock market debut.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "BBC Technology",
        "title": "SpaceX's first-ever earnings show higher revenues and huge spending",
        "url": "https://urgent.news/2026/08/04/spacexs-first-ever-earnings-show-higher-revenues-and-huge-spending",
        "published": "2026-08-04T20:48:59.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}