NEW YORK, Aug 4 — SpaceX posted its first quarterly results as a public company on Tuesday, reporting a 92% rise in revenue to $7.8 billion for the second quarter ended in June, up from $4.1 billion a year earlier and surpassing the $6.9 billion consensus estimate. This growth was fueled by strong performance in its Starlink satellite-internet and AI businesses.

The company announced a datacenter-chip partnership with Nvidia, with CEO Elon Musk stating on a conference call that SpaceX expects to receive a "significant percentage" of Nvidia's sought-after graphics processing units next year.

Despite beating expectations, SpaceX reported a loss of 9 cents per share, better than the 26-cent loss analysts had anticipated. Shares initially rose 9.4% in regular trading but fell 7% in late trading.

The earnings release comes ahead of the scheduled unlock of 911 million previously restricted shares, adding pressure to the stock. However, the share price decline means that 455 million additional shares remain ineligible for release this week.

Industry observers highlighted two key performance points: the doubling of Starlink subscriptions from 6 million to 12 million and a 350% increase in AI revenue. While AI-related costs were high, the revenue surge indicates positive momentum.

Adam Sarhan, Chief Executive of 50 Park Investments in New York, commented on the results, and other analysts viewed the earnings as a positive indicator for SpaceX's near-term financial prospects.

The company continues to operate near breakeven at the operating line while investing heavily in growth and innovation.

Sources