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By Wayne Cole SYDNEY, Aug 5 (Reuters) - Asian stock markets jumped on Wednesday as strong earnings and a resurgence of demand for tech lifted Wall Street to record peaks, while hopes for progress on
SpaceX announced its first earnings since its June IPO, cutting its losses and growing its revenue more than expected.
SpaceX's revenue jumped 92 percent in the second quarter, beating analyst expectations by around $1 billion in its first post-IPO earnings report, but shares tumbled as investors remained skeptical about the company's ability to deliver on lofty promises. Investors remain skeptical even with SpaceX beating expectations, Emarketer Senior Analyst Gadjo Sevilla told AFP. "I don't think people want to hear promises about the next five years or a mission to Mars," Sevilla said.
SpaceX exceeded revenue expectations and reduced its losses in its initial quarter as a publicly traded company , delivering sharp increases in all three of its divisions: space, connectivity and AI.
SpaceX's revenue jumped 92 percent in the second quarter, beating analyst expectations by around $1 billion in its first earnings report since going public in June, the company announced Tuesday.Investors remain skeptical even with SpaceX beating expectations, Emarketer Senior Analyst Gadjo Sevilla told AFP. "I don't think people want to hear promises about the next five years or a mission to Mars," Sevilla said.
SpaceX’s capital expenditure was dominated by AI-related costs in the quarter and came in at $18.4 billion.
SpaceX reported on Tuesday a 92% rise in revenue for the April-June quarter, in its first earnings since going public, buoyed by strong growth in its Starlink satellite-internet and AI businesses. The company said it invested $18.37 billion in AI infrastructure, Starship and Starlink expansion. The stock could face additional pressure from the expiry of SpaceX's post-IPO lock-up period starting on Thursday, which may unleash a wave of insider and early-investor shares on the market.
SpaceX reported first-quarter sales of $7.8 billion and earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $3.5 billion. Wall Street was looking for $6.8 billion and Ebitda of $2.
Space stocks are surging ahead of SpaceX's first-ever public earnings report, but with prediction markets flagging a 70% chance of a miss and a 911-million-share lockup expiry days away, traders face a tense setup that could cut either way.
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(Bloomberg) -- Short sellers have piled into SpaceX at a rapid pace ahead of two major milestones next week: the company’s first earnings report as a public company and the release of hundreds of millions of locked-up shares.Most Read from BloombergSingapore's Gated Island for the Rich Is Marred by Decayed HomesAnthropic AI Models Hacked Three Organizations During TestsMicrosoft’s $450 Billion Jump Is Biggest in Stock Market HistoryChip Stocks Post Biggest Advance Since April 2025: Markets WrapM
The IPO market has made an impressive comeback this year. Momentum began building in the first quarter and accelerated in the second, with traditional IPOs raising $114.1 billion through June 30, 2026 – roughly seven times the amount raised during the first half of 2025. SpaceX, the largest IPO in Wall Street history, understandably dominated the headlines and made Elon Musk the world’s first trillionaire, but the strength of the market extended well beyond a single blockbuster listing.Claim 55%
A China carveout could reduce regulatory complications related to SpaceX’s U.S. defense work and possible Beijing scrutiny.
A China carveout could reduce regulatory complications related to SpaceX’s U.S. defense work and possible Beijing scrutiny.
A China carveout could reduce regulatory complications related to SpaceX’s U.S. defense work and possible Beijing scrutiny.
(Bloomberg) -- As Big Tech barrels toward trillions of dollars of planned spending on AI, a key cog in credit markets is showing signs of pressure. That, in turn, is lifting the cost of financing artificial intelligence while offering an early look at potential winners and losers.Most Read from BloombergUS Intercepts Iran Attack on Bases, Puncturing Days of CalmSK Hynix Profit Disappoints, Spending Soars to $31 BillionApple Set to Make Big Smart Home Push With Siri AI at CenterNvidia’s $750 Bill
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