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SpaceX beats revenue expectations in first earnings report after IPO crash
['Dara Kerr']
Guardian Middle East
For the first time since SpaceX went public, the world is getting a first-hand look into the trillion-dollar corporation’s financials.
The Elon Musk-run business reported its second-quarter earnings on Tuesday, saying that its revenue jumped 92% since June.
SpaceX beat Wall Street expectations, reporting $7.81bn in revenue, versus analysts’ predictions of $6.93bn.
Even after the better-than-expected earnings, SpaceX’s stock still ticked down more than 8% in after hours trading on Tuesday, likely due to the company’s massive capital expenditures.
Tuesday’s earnings come just before the first “lockup” shares in SpaceX will be free for public trading.