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SpaceX posts loss in first report as a public company but less than expected
['Custom Source', 'Bernard Condon Ap Business Writer', 'Mins To Read', 'August', 'Emma Mcrae']
The Dispatch
NEW YORK — SpaceX reported a smaller loss than Wall Street expected along with a surge in revenue in its first quarterly report as a public company as it sharply boosted spending, particularly on artificial intelligence.
SpaceX stock rose 9% in regular trading Tuesday, but gave most of the gain back after hours.
The rocket, satellite and AI company’s stock has fallen by roughly half since peaking in June shortly after an initial public offering that briefly made Musk the world’s first trillionaire.
Musk was asked several times about the prospects for the gigantic Starship rocket that is key to SpaceX realizing his ambitions.
SpaceX shares could see continued volatility.