None
EN
SpaceX beats Wall Street expectations in first earnings release
['Staff Writer', 'Laurence Darmiento Covers Finance', 'Insurance', 'Aerospace', 'Dealmakers In Southern California For The Los Angeles Times. He Joined The Paper In As An Assistant Business Editor', 'Has Overseen Finance', 'Real Estate', 'Washington Business Coverage. Previously He Had Been The Managing Editor Of The Los Angeles Business Journal', 'Was A Reporter For The Los Angeles Daily News', 'Other Outlets. A New York Native']
News from California, across the nation and world - Los Angeles Times
SpaceX posted its first earnings as a public company, nearly doubling revenue and sharply narrowing quarterly losses, beating Wall Street forecasts even as it pours billions into rockets, satellites and AI.
Set us as preferredIn its first quarterly earnings release since its $86-billion initial public offering in June, Elon Musk’s SpaceX grew its revenue, sharply cut its losses and beat Wall Street’s expectations.
SpaceX shares closed up $10.80, or 9.4%, to $125.33 on the Nasdaq in advance of the earnings report, which was released after markets closed Tuesday.
AdvertisementThe company posted AI revenue of $2.56 billion for the quarter, up from $737 million a year ago.
As many as 911.5 million shares worth some $100 billion will become eligible for sale, likely putting more pressure on the price.