SpaceX reports first loss and high costs

SpaceX, now a publicly traded company, reported its first quarterly results showing a 92% increase in revenue to $7.8 billion, but expenses surged by over 550% to $18.3 billion, resulting in a net loss of $2 billion in the first half of the year. Despite its revenue growth and historic public listing, the company's stock declined nearly 9% after hours, erasing earlier gains and continuing a downward trend since its debut.

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