SpaceX’s revenue jumps in second-ever earnings report amid Starlink turmoil
Elon Musk’s company reports a 161% growth in revenue year over year driven by its Starlink and AI segments
TL;DR
- SpaceX reported $14.58bn in revenue, surpassing the projected $12.72bn, with 161% year-over-year growth.
- Revenue growth was driven by the Starlink and AI segments.
- The company reported earnings per share of 35 cents and a net income of $4.4bn.
- SpaceX stock rose 2% in after-hours trading following the earnings report.
- Elon Musk denied responsibility for Starlink service disruptions in Ukraine, stating it was controlled by the US government.
- Musk has contributed $366m in political spending this election cycle, backing Republican-aligned Super Pacs.
- Musk agreed to co-lead a Pentagon project on the future of warfare.
- Musk pledged to give away SpaceX stocks to children, to be facilitated through Donald Trump's 'Trump accounts' initiative.
- Tesla will also reveal its latest earnings this week, with Musk set to deliver the quarterly report.
- Tesla unveiled its new Roadster 2 electric sports car with aerial stunt capabilities.