{"id":583425,"date":"2026-08-05T00:24:10","date_gmt":"2026-08-05T00:24:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/583425\/"},"modified":"2026-08-05T00:24:10","modified_gmt":"2026-08-05T00:24:10","slug":"spacex-beats-revenue-expectations-in-first-earnings-report-after-ipo-crash-spacex","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/583425\/","title":{"rendered":"SpaceX beats revenue expectations in first earnings report after IPO crash | SpaceX"},"content":{"rendered":"

For the first time since SpaceX<\/a> went public, the world is getting a first-hand look into the trillion-dollar corporation\u2019s financials. The Elon Musk<\/a>-run business reported its second-quarter earnings on Tuesday, saying that its revenue jumped 92% since June.<\/p>\n

SpaceX beat Wall Street expectations, reporting $7.81bn in revenue, versus analysts\u2019 predictions of $6.93bn. While expansive, the company is not profitable. The company reported a loss of $541m, down from a $1bn loss in the same quarter last year.<\/p>\n

During a call with investors, Musk called it \u201canother milestone year\u201d for the company. \u201cThe SpaceX team is solving some of the hardest engineering problems in the history of humanity,\u201d he said.<\/p>\n

The spike in revenue is likely to quell fears from nervous investors who have been waiting for more insight into the company\u2019s potential for profit.<\/p>\n

SpaceX had a blockbuster initial public offering<\/a> in June with the largest stock market debut in history. The IPO transformed SpaceX into a $2tn company and briefly crowned Musk the world\u2019s first trillionaire. But since then, the company\u2019s stock has plummeted by 24%, erasing nearly $500bn in market cap.<\/p>\n

Even after the better-than-expected earnings, SpaceX\u2019s stock still ticked down more than 8% in after hours trading on Tuesday, likely due to the company\u2019s massive capital expenditures.<\/p>\n

\u201cThis report comes at an important time, the share price crashed and burned in recent weeks, it is down 50% from its peak and is trading below its IPO price,\u201d said Kathleen Brooks, research director at global brokerage firm XTB.<\/p>\n

\u201cUnsurprisingly, investors are jittery leading up to this report as it may determine the long-term direction for the stock.\u201d<\/p>\n

SpaceX is a conglomeration of several of Musk\u2019s businesses, including the satellite maker and internet service provider Starlink, the artificial intelligence platform xAI, the social media company X and the SpaceX rocket business.<\/p>\n

Last year, SpaceX pulled in a revenue of $18.7bn, while recording an operating loss of $4.3bn<\/a>. The only profitable portion of the company is its connectivity arm, Starlink. For comparison, the social media company Meta generated revenue of more than $200bn last year with a net income upwards of $60bn.<\/p>\n

Breaking out the revenue for SpaceX\u2019s three main businesses, the company reported $962m for space, $4.29bn for connectivity and $2.56bn for AI, which beat analysts\u2019 forecasts of $835m for space, $3.38bn for connectivity and $2.18bn for AI, according to XTB.<\/p>\n

During the earnings call, Musk and other SpaceX executives touted the progress the company has made in launching its massive Starship rockets into orbit and sending even more Starlink satellites into space. They also discussed SpaceX\u2019s ambition to build a city on the moon.<\/p>\n

\u201cIt sounds like super sci-fi right now,\u201d Musk said. \u201cBut it\u2019s gonna happen.\u201d<\/p>\n

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His top lieutenant and the president of SpaceX, Gwynne Shotwell, followed up saying: \u201cWe want to put boots on the moon by at least 2028.\u201d<\/p>\n

Tuesday\u2019s earnings come just before the first \u201clockup\u201d shares in SpaceX will be free for public trading. Lockup shares are what employees and some insiders obtain before a company goes public, which they cannot trade for a set amount of time.<\/p>\n

The purpose of a lockup is to prevent a deluge of shares from hitting the market, which can depreciate the stock price.<\/p>\n

On Thursday, more than 900m shares from SpaceX<\/a> will be open for trading \u2013 that\u2019smore than double the current amount available and, despite the positive earnings report, could still weaken the company\u2019s share price.<\/p>\n

\u201cThe central question for SpaceX\u2019s first quarter as a public company was whether the machine underneath the story actually works, and on that question Elon Musk<\/a> and his team delivered a few positives,\u201d said Thomas Monteiro, a senior analyst at Investing.com.<\/p>\n

But he warned: \u201cIn a market already wary of heavy capex [capital expenditure] and negative free cash flow amid a shifting rates cycle, that profile may not sit well for the longer term.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"For the first time since SpaceX went public, the world is getting a first-hand look into the trillion-dollar…\n","protected":false},"author":2,"featured_media":583426,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-583425","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/583425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=583425"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/583425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/583426"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=583425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=583425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=583425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}