Instant View: SpaceX's first quarterly results as a public company beat expectations, but AI costs hit stock
SpaceX on Tuesday posted its first quarterly results as a public company, highlighting a 92% rise in revenue on strong growth in its Starlink satellite-internet and AI businesses. Revenue for the second quarter ended in June rose to $7.8 billion from $4.1 billion a year earlier, beating the $6.9 billion consensus estimate. The report has been widely anticipated on Wall Street in part because the earnings release will be followed this week by the unlock of 911 million shares previously subject to restrictions -- an event that stands to add to the already significant pressure on the shares of Elon Musk's rockets-and-AI firm.
SpaceX on Tuesday posted its first quarterly results as a public company, highlighting a 92% rise in revenue on strong growth in its Starlink satellite-internet and AI businesses. Revenue for the second quarter ended in June rose to $7.8 billion from $4.1 billion a year earlier, beating the $6.9 billion consensus estimate. The report has been widely anticipated on Wall Street in part because the earnings release will be followed this week by the unlock of 911 million shares previously subject to restrictions -- an event that stands to add to the already significant pressure on the shares of Elon Musk's rockets-and-AI firm.
What's Your Reaction?
:max_bytes(150000):strip_icc()/GettyImages-2187410260-5afe56694791404f99c253dd8d5abe6a.jpg?#)
