SpaceX is set to report its fiscal second-quarter results after the market closes on Tuesday, marking its first earnings release following a record-breaking IPO in June.
Approximately $6.93 billion in revenue and a loss of 26 cents per share. However, it’s important to note that initial earnings reports may include unpredictable adjustments, so the reported figures might differ from these estimates.
This is the first time Elon Musk’s reusable rocket company will be presenting earnings to Wall Street in this capacity, and investor sentiment has been cautious. Since opening at $150 on June 12, the stock has declined by 24%, erasing nearly $500 billion in market value. The shares are also close to 50% below the intraday peak reached on June 16.
Last year, SpaceX reported a loss of $4.9 billion, largely due to substantial investments in artificial intelligence infrastructure. The company’s merger with Musk’s xAI in February was aimed at building data centers in space. Even its launch business, which secures large contracts with NASA, is currently unprofitable.
Most of SpaceX’s revenue and its only profit source come from its connectivity segment, primarily through the Starlink satellite internet service, which is sold directly to consumers as well as to government and military clients.
Source (CNBC)
