Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Business
Debaroti Adhikary

SpaceX posts 92% revenue surge, but stock tumbles 7% in after-hours. Here's why

SpaceX Elon Musk Starlink United States IPO

SpaceX released its first quarterly results after a stellar market debut earlier this year, with Elon Musk’s company reporting a 92% year-on-year surge in revenue to $7.8 billion for the April-June quarter. The stock, however, tumbled over 7% in the after-hours, spooking investors.

The newly-listed company said it expects a $100 billion revenue run-rate by December and plans to launch at least 1,000 next-generation V3 Starlink satellites within a year. Elon Musk’s company also promised a less than one-year payback on new capital deployments for AI compute

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
What’s Actually Made Fresh at the Grocery Store Bakery? The Answer May Surprise You
The smell of warm bread and cookies can make the grocery store bakery one of the hardest sections to walk past without buying something. Rows of golden rolls, frosted cupcakes, and fresh-looking pastries create the impression that bakers prepared everything that morning. Sometimes, that is true, but many supermarket bakeries…
Grocery Coupon Guide
Grocery Coupon Guide
Cyndi Lauper defends working with Nicki Minaj despite rapper’s support for Trump
Rapper has become one of the president’s most famous supporters
The Independent UK
The Independent UK
Doctors Were the Butt of 40% of Facebook Doctor Jokes, but the Most-Liked One Skewered a Lawyer
Researchers combed 30,075 Facebook posts for doctor jokes. Physicians were the usual target, but the most-liked punchline hit a lawyer.
Medical Daily
Medical Daily
Fridge or not? What’s the best way to store bread?
Our experts have some airtight advice to stop your loaf from going stale
The Guardian - UK
The Guardian - UK
Not enjoying being a parent? You’re not alone. Here’s how to handle this complicated feeling
We’re often told parenting is one of the most rewarding things we’ll ever do. But as many parents will attest, it is also full of very difficult moments. And sometimes these moments seem almost constant.
The Conversation
The Conversation
A warm, sumptuous tale of two Coppolas
As "Marie Antoinette" turns 20, Eleanor and Sofia Coppola's documentary reveals new resonance
Salon
Salon
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play