SpaceX's first quarterly report shows a 92% revenue increase to $7.8 billion, offset by a $18.3 billion rise in spending and a $2 billion net loss in the first half of the year.
Key facts
- •SpaceX revenue grew 92% to $7.8 billion compared to the same period last year.
- •Spending increased by more than 550% to $18.3 billion.
- •Starlink generated $1.6 billion in profit during the second quarter.
- •The company's AI business currently serves clients including Google and Anthropic.
- •SpaceX shares fell nearly 9% in after-hours trading on Tuesday.
SpaceX has released its first-ever quarterly business report, revealing a 92% revenue increase to $7.8 billion compared to the previous year. Despite this growth, the company reported a 550% surge in spending to $18.3 billion and a $2 billion net loss for the first six months of the year. Following the report, SpaceX shares fell nearly 9% in after-hours trading.
By the numbers
Starlink and AI Business Performance
Starlink remains the company's only profitable segment, generating $1.6 billion in the second quarter. Elon Musk stated that Starlink could eventually operate most of the world's internet. Meanwhile, the company's AI compute business, which serves clients including Google and Anthropic, reported $2.5 billion in revenue but incurred a $1.2 billion loss during the quarter. SpaceX currently has 1.4 gigawatts of compute power capacity and aims to reach at least 10 gigawatts next year.
Market Performance and Future Outlook
SpaceX's core rocket business reported $962 million in revenue with a $542 million net loss for the second quarter. Finance head Bret Johnson noted that capital spending will remain at a similar level for the remainder of the year. Despite recent stock declines—with shares trading below the $135 debut price—Musk projected the company could reach $1 trillion in revenue by 2030.
Advertisement
This article was independently rewritten by ManyPress editorial AI from reporting originally published by BBC Technology.
