Elon Musk’s SpaceX reports losses but less than expected

What the report says

SpaceX, the Starbase, Texas-based company run by Elon Musk, reported its first quarterly results as a public company on Tuesday and said it posted a loss of $541 million, or 9 cents a share, for the three months through June. The loss was smaller than analysts had expected, while revenue rose sharply, reflecting continued growth in the company’s core satellite and launch businesses.

According to Al Jazeera’s report, SpaceX said revenue reached $7.8 billion, more than 90 percent higher than a year earlier and above Wall Street forecasts. The company also said it ended the quarter with $100 billion in cash. It highlighted new U.S. government contracts for its Starshield satellite system and two successful Starship V3 launches in the past 90 days.

The article said SpaceX continues to rely heavily on Starlink and related connectivity operations, while also investing in expansion, mobile direct-to-device services and artificial intelligence infrastructure. It reported $18.37 billion in spending on Starlink and Starship growth efforts, and said the company’s AI unit recorded an operating loss of $1.2 billion.

The results matter because investors have been tracking whether SpaceX can keep growing while managing large capital spending and new technology bets. The company’s shares initially rose after the announcement before easing in later trading, underscoring ongoing market uncertainty around Musk’s broader ambitions.