{"slug": "elon-musks-spacex-reports-losses-but-less-than-expected", "title": "Elon Musk’s SpaceX reports losses but less than expected", "summary": "SpaceX, the company run by Elon Musk, reported a loss of $541 million, or 9 cents per share, in the second quarter, less than half of what analysts expected, while revenue jumped to $7.8 billion, up more than 90 percent from a year earlier. The company ended the quarter with $100 billion in cash and touted $6 billion in new U.S. government contracts for Starshield and two successful Starship V3 launches. SpaceX's stock surged 9.4 percent on Tuesday but fell 7.2 percent in after-hours trading.", "body_md": "# Elon Musk’s SpaceX reports losses but less than expected\n\n*Revenue was up more than 90 percent from the same period a year ago, beating analyst expectations.*\n\nSpaceX reported a loss of more than half a billion dollars in its first quarterly statement as a [public company](/economy/2026/6/11/musks-1-8-trillion-spacex-ipo-could-be-highly-undesirable-for-some), but the loss was less than Wall Street expected and revenue soared.\n\nOn Tuesday, the company run by Elon Musk reported a loss of $541m, or 9 cents per share, in the three months through June, less than half what financial analysts had expected.\n\n## Recommended Stories\n\nlist of 4 items- list 1 of 4\n[Why Israel’s economy hasn’t collapsed during a multi-front war](/video/money-works/2026/8/4/why-israels-economy-hasnt-collapsed-during-a-multi-front-war) - list 2 of 4\n[White House to meet AI firms on advanced model safety](/economy/2026/8/4/white-house-to-meet-ai-firms-on-advanced-model-safety) - list 3 of 4\n[Telegram says Apple suspension followed content norms violation by one user](/economy/2026/8/4/telegram-says-apple-suspension-followed-content-norms-violation-by-one-user) - list 4 of 4\n[Argentina grain exports halt as maritime pilots strike over Milei decree](/news/2026/8/4/argentina-grain-exports-halt-as-maritime-pilots-strike-over-milei-decree)\n\nRevenue jumped to $7.8bn, up more than 90 percent from the year-earlier period, beating analyst expectations. LSEG had forecast revenue growth of more than $6.9bn, and Bloomberg analysts had forecast $6.8bn.\n\nThe Starbase, Texas-based giant ended the second quarter with $100bn in cash, according to United States Securities and Exchange Commission filings.\n\nThe company touted several achievements in the quarter, including $6bn in new US government contracts for Starshield, its national security-centric satellite system, and two successful launches of its Starship V3 in the last 90 days.\n\nStarlink and SpaceX’s broader connectivity operations remain the company’s primary financial engine, underpinning Musk’s push to build an AI-first business that extends beyond renting compute capacity to developing frontier models, consumer and enterprise software, and, eventually, data centres in space.\n\nThe company’s satellite-internet unit has continued to expand its global subscriber base, aided by launches of additional satellites and a growing range of consumer, enterprise, aviation, maritime and government services.\n\nInvestors are watching whether SpaceX can maintain growth while improving the economics of its network, particularly as it spends heavily to expand coverage, increase capacity and develop direct-to-device mobile services.\n\nThe company said it spent $18.37bn on Starlink and Starship expansion efforts, in addition to building out its AI infrastructure. Musk said the company expects its “Starmind” AI satellites to be launched next year.\n\nIn its AI business, the tech giant had an operating loss of $1.2bn, as the company also released its most powerful Grok model yet. This comes as the company faces lawsuits around the globe for Grok being used to [generate sexualised images](/news/2026/1/15/musks-grok-to-bar-users-from-generating-sexual-images-of-real-people) of people without their consent.\n\nSeparately, SpaceX said it had partnered with Nvidia to use its chips in the Starmind AI1 orbital compute satellites.\n\nWhen SpaceX debuted on public markets earlier this year, it was the largest stock market debut in history, cementing Musk as the world’s first trillionaire. However, it was a short-lived title because of a sell-off in the broader AI sector and on investor worries that Musk had oversold them on the company’s future prospects for space travel and colonisation, among other issues.\n\nThe company’s stock has tumbled 8 percent since its IPO.\n\nSpaceX surged on Tuesday trading. It finished the day up 9.4 percent, but has since tumbled in after-hours trading and was down 7.2 percent since the market close.", "url": "https://wpnews.pro/news/elon-musks-spacex-reports-losses-but-less-than-expected", "canonical_source": "https://www.aljazeera.com/economy/2026/8/4/elon-musks-spacex-reports-reports-losses-but-less-than-expected?traffic_source=rss", "published_at": "2026-08-04 22:02:09+00:00", "updated_at": "2026-08-04 22:42:05.207332+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure", "ai-products"], "entities": ["SpaceX", "Elon Musk", "Starbase", "Starshield", "Starship V3", "Starlink", "Starmind", "Nvidia"], "alternates": {"html": "https://wpnews.pro/news/elon-musks-spacex-reports-losses-but-less-than-expected", "markdown": "https://wpnews.pro/news/elon-musks-spacex-reports-losses-but-less-than-expected.md", "text": "https://wpnews.pro/news/elon-musks-spacex-reports-losses-but-less-than-expected.txt", "jsonld": "https://wpnews.pro/news/elon-musks-spacex-reports-losses-but-less-than-expected.jsonld"}}