SpaceX Beats Wall Street Expectations in First Earnings Release SpaceX's second quarter loss was significantly lower than expected, thanks to reduced losses in its internet and AI businesses.
The company reported a shortfall of $541 million, which is substantial despite revenue growth of 92%. Much of this increase came from its Starlink internet broadband service.
The real story here is SpaceX's massive investment in its AI unit. Capital expenditures soared to $18. 4 billion for the quarter, a staggering 650% increase from last year.