SpaceX (SPACEX) Earnings Report: Revenue Up 92% to $7.8bn

SpaceX reported its first quarterly earnings with revenue increasing 92% to $7.8 billion compared to last year, while spending surged over 550% to $18.3 billion. The company experienced a net loss of $2 billion in the first half of the year despite Starlink generating a profit of $1.6 billion in Q2. In after-hours trading, SpaceX shares fell nearly 9%, erasing earlier gains. Elon Musk projected future revenue could reach $1 trillion by 2030, highlighting the role of its AI-related business in driving growth.