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00:02SpaceX reported better-than-expected second-quarter results in its first earnings report since its June IPO, according to CNBC.
00:10The company reported a loss of $0.09 per share on revenue of $7.81 billion, beating analyst estimates for
00:17a $0.26 loss and $6.93 billion in revenue.
00:21Revenue increased 92% year-over-year to $7.81 billion, while its net loss narrowed to $541 million from
00:30$1 billion.
00:32Connectivity remained the company's only profitable segment, generating $1.66 billion in operating income.
00:39The space and AI businesses posted operating losses of $542 million and $1.26 billion.
00:46SpaceX lost $4.9 billion last year as investments in AI infrastructure, and losses in its launch business outweighed revenue
00:54from major government contracts.
00:57SpaceX shares have fallen 16% since opening at $150 on June 12th.
01:02Shares fell about 8% in Tuesday's extended trading, according to CNBC.
01:07For all things money, visit Benzinga.com.
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