▲ SpaceX
SpaceX, the aerospace and artificial intelligence (AI) company led by Elon Musk, has posted results exceeding market expectations in its first earnings report since going public.
SpaceX announced in a filing on the 4th (local time) that its second-quarter revenue reached $7.8 billion (approx. 11 trillion won).
This figure surpasses the analyst consensus of $6.93 billion compiled by the London Stock Exchange Group (LSEG).
Compared to the same period last year ($4.1 billion), revenue increased by 92%.
However, as capital expenditures surged due to investments in the artificial intelligence (AI) business, its stock fell 8% in after-hours trading, according to U.S. economic media outlet CNBC.
During regular trading earlier that day, SpaceX shares closed up 9.4% at $125.33.
Broken down by sector, the connectivity business, which encompasses satellite internet services like Starlink, accounted for the largest share with total revenue of $4.29 billion.
Revenue from the AI segment, which includes various businesses such as xAI, the AI model Grok, and social media platform X (formerly Twitter), stood at $2.56 billion, followed by the space sector at $962 million.
All three sectors evenly outperformed market expectations.
Operating loss for the second quarter was $143 million (approx. 204.5 billion won) and net loss was $541 million (approx. 773.6 billion won), but these figures also proved more favorable than market forecasts.
According to the Associated Press, initial analyst surveys had projected the net loss to reach as high as $1.9 billion.
Driving SpaceX in terms of both revenue and operating profit was the connectivity business, including Starlink.
Starlink subscriber numbers reached 12 million, marking a twofold increase compared to the previous year.
Average revenue per user was $66.
SpaceX explained that Starlink is serving as the company's financial engine as it launches lower-priced plans and expands into more overseas markets.
Operating profit for the connectivity business rose 79% year-over-year to $1.66 billion.
On the other hand, the AI business division has been accumulating operating losses due to rising investment.
Operating loss for the division in the second quarter was $1.26 billion.
The space sector, which relies on large contracts with the National Aeronautics and Space Administration (NASA), posted an operating loss of $542 million.
According to Bloomberg, CEO Musk expressed optimism during a conference call, stating that SpaceX has successfully conducted Starship test flights and is building AI computing capacity faster than anyone else, aiming to achieve actual revenues of $1 trillion by 2030.
Particularly mentioning the potential of Starlink, he remarked that "people are underestimating Starlink," and predicted that it could end up providing the vast majority of internet access worldwide.
SpaceX President Gwynne Shotwell also highlighted Starlink's in-flight internet services, adding that there is substantial growth potential as major airlines prefer their service.
"We have purchased spectrum from EchoStar and plan to build a terrestrial network," Shotwell said.
Several bold plans were also unveiled.
CEO Musk stated that by next year, the company will launch Starmind AI satellites—space data centers—and a year later, launch Starship at least once a day or more.
He also introduced an idea to install a mass accelerator on the Moon to launch satellites from the lunar surface at high speeds.
This earnings announcement drew keen market attention as it marks the first performance report released by SpaceX since its IPO, which had garnered attention as the world's largest.
(Photo: AP, Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.