SpaceX Drops After Hours After Posting $7.81 Billion Revenue and 9-Cent Loss
Updated
Updated · CNBC · Aug 4
SpaceX Drops After Hours After Posting $7.81 Billion Revenue and 9-Cent Loss
3 articles · Updated · CNBC · Aug 4
Summary
SpaceX shares fell in after-hours trading after the company reported $7.81 billion in revenue and a 9-cent-per-share loss in its latest earnings release.
Revenue nearly doubled from a year earlier and topped expectations, but the stock reversed a 9% pre-earnings gain, extending volatility after its recent IPO.
Elon Musk told investors Starlink could deliver a majority of the world's internet within 10 years in most countries where it can operate.
SpaceX also said it plans to build its AI data centers using Nvidia chips only, underscoring the AI spending focus that has already worried some investors.
The move follows a sharp retreat from SpaceX's post-IPO peak, with the stock still down about 44% from its high despite broader U.S. indexes hitting records.