{"id":8297,"date":"2026-08-05T02:38:19","date_gmt":"2026-08-05T02:38:19","guid":{"rendered":"https:\/\/pronews.in\/index.php\/2026\/08\/05\/elon-musks-spacex-reports-losses-but-less-than-expected\/"},"modified":"2026-08-05T02:38:19","modified_gmt":"2026-08-05T02:38:19","slug":"elon-musks-spacex-reports-losses-but-less-than-expected","status":"publish","type":"post","link":"https:\/\/pronews.in\/index.php\/2026\/08\/05\/elon-musks-spacex-reports-losses-but-less-than-expected\/","title":{"rendered":"Elon Musk\u2019s SpaceX reports losses but less than expected"},"content":{"rendered":"<div>\n<p><em>Revenue was up more than 90 percent from the same period a year ago, beating analyst expectations.<\/em><\/p>\n<\/div>\n<div aria-live=\"polite\" aria-atomic=\"true\">\n<p>SpaceX reported a loss of more than half a billion dollars in its first quarterly statement as a <a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/6\/11\/musks-1-8-trillion-spacex-ipo-could-be-highly-undesirable-for-some\" target=\"_blank\" rel=\"noopener\">public company<\/a>, but the loss was less than Wall Street expected and revenue soared.<\/p>\n<p>On 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.<\/p>\n<section>\n<h2>Recommended Stories <\/h2>\n<p><span>list of 4 items<\/span><\/p>\n<ul>\n<li><span>list 1 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/video\/money-works\/2026\/8\/4\/why-israels-economy-hasnt-collapsed-during-a-multi-front-war\">Why Israel\u2019s economy hasn\u2019t collapsed during a multi-front war<\/a><\/li>\n<li><span>list 2 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/8\/4\/white-house-to-meet-ai-firms-on-advanced-model-safety\">White House to meet AI firms on advanced model safety<\/a><\/li>\n<li><span>list 3 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/8\/4\/telegram-says-apple-suspension-followed-content-norms-violation-by-one-user\">Telegram says Apple suspension followed content norms violation by one user<\/a><\/li>\n<li><span>list 4 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/news\/2026\/8\/4\/argentina-grain-exports-halt-as-maritime-pilots-strike-over-milei-decree\">Argentina grain exports halt as maritime pilots strike over Milei decree<\/a><\/li>\n<\/ul>\n<p><span>end of list<\/span><\/section>\n<p>Revenue 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.<\/p>\n<p>The Starbase, Texas-based giant ended the second quarter with $100bn in cash, according to United States Securities and Exchange Commission filings.<\/p>\n<p>The 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.<\/p>\n<p>Starlink and SpaceX\u2019s broader connectivity operations remain the company\u2019s primary financial engine, underpinning Musk\u2019s 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.<\/p>\n<p>The company\u2019s 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.<\/p>\n<p>Investors 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.<\/p>\n<p>The 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 \u201cStarmind\u201d AI satellites to be launched next year.<\/p>\n<p>In 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 <a href=\"http:\/\/www.aljazeera.com\/news\/2026\/1\/15\/musks-grok-to-bar-users-from-generating-sexual-images-of-real-people\" target=\"_blank\" rel=\"noopener\">generate sexualised images<\/a> of people without their consent.<\/p>\n<p>Separately, SpaceX said it had partnered with Nvidia to use its chips in the Starmind AI1 orbital compute satellites.<\/p>\n<p>When SpaceX debuted on public markets earlier this year, it was the largest stock market debut in history, cementing Musk as the world\u2019s 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\u2019s future prospects for space travel and colonisation, among other issues.<\/p>\n<p>The company\u2019s stock has tumbled 8 percent since its IPO.<\/p>\n<p>SpaceX 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.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Revenue was up more than 90 percent from the same period a year ago, beating analyst expectations. SpaceX reported a loss of more than half a billion dollars in its first quarterly statement as a public company, but the loss was less than Wall Street expected and revenue soared. On Tuesday, the company run by &#8230; <a title=\"Elon Musk\u2019s SpaceX reports losses but less than expected\" class=\"read-more\" href=\"https:\/\/pronews.in\/index.php\/2026\/08\/05\/elon-musks-spacex-reports-losses-but-less-than-expected\/\" aria-label=\"Read more about Elon Musk\u2019s SpaceX reports losses but less than expected\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-8297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-travel"],"_links":{"self":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts\/8297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/comments?post=8297"}],"version-history":[{"count":0,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts\/8297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/media\/8298"}],"wp:attachment":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/media?parent=8297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/categories?post=8297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/tags?post=8297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}