SpaceX reports record quarterly revenue surge but posts loss as shares slide after IPO

SpaceX reported its first quarterly earnings as a public company on Tuesday, revealing a 92% year-over-year revenue surge to $7.8 billion in the second quarter, driven by growth in its Starlink satellite network and AI business. The figure exceeded analyst expectations of $6.93 billion, according to Bloomberg .
Despite the revenue jump, the company posted a net loss of $541 million, or 9 cents per share, for the quarter. The loss narrowed by 46% compared to the same period last year, when SpaceX recorded a $1 billion deficit .
The earnings report follows SpaceX’s June IPO on Nasdaq, which marked the largest public debut in history. The company’s stock opened at $150 per share and peaked at over $200 before declining. As of Tuesday, shares closed at $125.09, up 9.4% for the day but down more than 50% from their high .
Elon Musk, the company’s founder, has publicly forecasted $1 trillion in annual revenue by 2030, but investors have reacted skeptically. The stock fell over 7% in after-hours trading following the earnings release .
SpaceX’s revenue growth was attributed to its three core business segments—spaceflight, AI, and satellites—all of which saw increases. However, the company’s heavy investments in AI development contributed to the continued losses .
The quarterly results also coincided with a separate incident on Wednesday morning, when the upper stage of a decommissioned SpaceX Falcon rocket was expected to crash into the Moon at approximately 8:30 a.m. Central European Time, kicking up enough dust to be visible from Earth .
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