SpaceX, led by Elon Musk, reported quarterly results for the first time since its listing, posting revenue that beat market expectations.
SpaceX said on the 4th (local time) that its second-quarter revenue this year was $7.8 billion, up 92% from the same period a year earlier. It also topped the market forecast of about $6.9 billion. Net loss was $541 million, and operating loss was $143 million.
By institutional sector, revenue from the communications institutional sector, including Starlink, was $4.29 billion, accounting for more than half of the total. The AI institutional sector posted $2.56 billion, and the launch vehicle and space business institutional sector recorded $962 million in revenue.
In particular, subscribers to the satellite internet service Starlink were tallied at 12 million, about double from a year earlier. Communications institutional sector operating profit also rose 79% from a year earlier to $1.66 billion. In contrast, the AI institutional sector posted an operating loss of $1.26 billion, and the space institutional sector recorded an operating loss of $542 million.
Musk, SpaceX chief executive officer (CEO), set a goal of $1 trillion in revenue for 2030 on a conference call. He added, "We will keep expanding AI compute capacity and the Starlink business," and said, "We will launch satellites for space data centers by next year, and a year after that we will launch Starship at least once a day."