24 Hrs
Source:
Los Angeles Times
SpaceX's first post-IPO earnings show loss reduction and revenue growth
SpaceX reported its first quarterly earnings since its June IPO, with revenue increasing 92% to $7.81 billion and net losses decreasing to $541 million. The company’s growth was driven mainly by its Starlink internet services, which added 1.7 million subscribers, and its AI business, which generated $2.56 billion in revenue. Despite a wider loss in its rocket division due to heavy investment, overall financial performance exceeded analyst expectations, though its stock price declined in after-hours trading.
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