SpaceX beats revenue expectations in first earnings report after IPO crash

From the publisher

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. 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. During a call with investors, Musk called it “another milestone year” for the company. “The SpaceX team is solving some of the hardest engineering problems in the history of humanity,” he said. The…

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