{"id":1932,"date":"2026-08-04T22:30:12","date_gmt":"2026-08-04T22:30:12","guid":{"rendered":"https:\/\/www.asianewscast.com\/?p=1932"},"modified":"2026-08-04T22:30:13","modified_gmt":"2026-08-04T22:30:13","slug":"elon-musks-spacex-reports-losses-but-less-than-expected","status":"publish","type":"post","link":"https:\/\/www.asianewscast.com\/?p=1932","title":{"rendered":"Elon Musk\u2019s SpaceX reports losses but less than expected"},"content":{"rendered":"<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__divider\">\n<div class=\"listen-to-article\"><button class=\"listen-to-article__button\" data-testid=\"listen-to-article-button\"><title>Listen<\/title>Listen (3 mins)<\/button><\/div>\n<div class=\"rich-share__update-reading-list-wrapper\">\n<div class=\"update-reading-list\">\n<p class=\"update-reading-list__button-text\">Save<\/p>\n<\/div>\n<div><\/div>\n<\/div>\n<div class=\"rich-share__wrapper\">\n<div class=\"rich-share__button-wrapper\"><button class=\"rich-share__button row\" aria-expanded=\"false\"><\/p>\n<div class=\"screen-reader-text\">Click here to share on social media<\/div>\n<p><title>share-nodes<\/title><\/button><\/p>\n<p class=\"rich-share__social-text\">Share<\/p>\n<div class=\"rich-share__links rich-share__links--row\" data-testid=\"share-links\">\n<div class=\"rich-share__social rich-share__social--row\"><a class=\"rich-share__social-link row\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Share on Facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Faje.news%2F8lyn7i\"><title>facebook<\/title><\/a><a class=\"rich-share__social-link row\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Share on Twitter\" href=\"https:\/\/twitter.com\/intent\/tweet?text=Elon%20Musk%E2%80%99s%20SpaceX%20reports%20losses%20but%20less%20than%20expected&amp;source=sharethiscom&amp;related=sharethis&amp;via=AJEnglish&amp;url=https%3A%2F%2Faje.news%2F8lyn7i\"><title>x<\/title><\/a><a class=\"rich-share__social-link row u-hidden--desktop\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Share on Whatsapp\" href=\"\/\/send?text=https%3A%2F%2Faje.news%2F8lyn7i\"><title>whatsapp-stroke<\/title><\/a><a class=\"rich-share__social-link row copylink\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Copy link\" href=\"https:\/\/aje.news\/8lyn7i\"><title>copylink<\/title><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"google-preferred-source\"><button class=\"google-preferred-source__button\" aria-label=\"Add Al Jazeera on Google\" data-testid=\"google-preferred-source-button\"><title>google<\/title><span class=\"google-preferred-source__text\">Add Al Jazeera on Google<\/span><\/button><button aria-label=\"See more of Al Jazeera\u2019s trusted journalism by adding us as a preferred source on Google.\" class=\"tooltip-accessible_trigger\"><title>info<\/title><\/button><\/div>\n<\/div>\n<div class=\"article-featured__media\">\n<figure class=\"article-featured-image\">\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"eager\" src=\"\/wp-content\/uploads\/2026\/08\/afp_6a72522abbb3-1785877034.jpg?resize=770%2C513&amp;quality=80\" alt=\"HAWTHORNE, CALIFORNIA - AUGUST 04: The SpaceX logo is displayed at a SpaceX facility on August 04, 2026 in Hawthorne, California. SpaceX is set to release its first earnings report since its June IPO today after the closing bell, with analysts focused on the company&apos;s Starlink growth, AI spending and guidance as shares have fallen sharply from their post-IPO highs. Justin Sullivan\/Getty Images\/AFP (Photo by JUSTIN SULLIVAN \/ GETTY IMAGES NORTH AMERICA \/ Getty Images via AFP)\"><\/div><figcaption>When SpaceX debuted on public markets earlier this year, it was the largest stock market debut in history [File: Justin Sullivan\/Getty Images via AFP]<\/figcaption><\/figure>\n<\/div>\n<div class=\"article-info m--t-20 m--desktop-b-30 m--b-mobile-20\">\n<div class=\"byline byline--single-avatar\">\n<div class=\"avatars-container\"><a class=\"avatar\" aria-hidden=\"true\" href=\"\/author\/al_jazeera_staff_150119130629458\"><\/p>\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"lazy\" src=\"\/wp-content\/uploads\/2024\/05\/2017-06-08T131939Z_1189275883_RC11B0FE7F20_RTRMADP_3_GULF-QATAR-JAZEERA-1714943623.jpg?resize=96%2C96&amp;quality=80\" aria-hidden=\"true\"><\/div>\n<p><\/a><\/div>\n<div class=\"byline-content\">\n<div class=\"contributors-list contributors-list--byline\"><span class=\"contributors-list__by-prefix\">By <\/span><a href=\"\/author\/al_jazeera_staff_150119130629458\">Al Jazeera Staff<\/a>, <!-- -->AP<!-- --> and <!-- -->Reuters<\/div>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<div class=\"date-simple\"><span class=\"screen-reader-text\">Published On 4 Aug 2026<\/span><span aria-hidden=\"true\">4 Aug 2026<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"wysiwyg wysiwyg--all-content\" aria-live=\"polite\">\n<p>SpaceX reported a loss of more than half a billion dollars in its first quarterly statement as a <a href=\"\/economy\/2026\/6\/11\/musks-1-8-trillion-spacex-ipo-could-be-highly-undesirable-for-some\" target=\"_blank\" rel=\"noopener\">public company<\/a>, but the loss was less than Wall Street expected and revenue soared.<\/p>\n<p>On Tuesday, the company run by Elon Musk reported a loss of $541m, or 9 cents per share, in the three months through June, less than half what financial analysts had expected.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 4 items<\/span><\/p>\n<ul class=\"more-on__list\">\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 1 of 4<\/span><a class=\"more-on__link\" href=\"\/video\/money-works\/2026\/8\/4\/why-israels-economy-hasnt-collapsed-during-a-multi-front-war\">Why Israel\u2019s economy hasn\u2019t collapsed during a multi-front war<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 2 of 4<\/span><a class=\"more-on__link\" href=\"\/economy\/2026\/8\/4\/white-house-to-meet-ai-firms-on-advanced-model-safety\">White House to meet AI firms on advanced model safety<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 3 of 4<\/span><a class=\"more-on__link\" href=\"\/economy\/2026\/8\/4\/telegram-says-apple-suspension-followed-content-norms-violation-by-one-user\">Telegram says Apple suspension followed content norms violation by one user<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 4 of 4<\/span><a class=\"more-on__link\" href=\"\/news\/2026\/8\/4\/argentina-grain-exports-halt-as-maritime-pilots-strike-over-milei-decree\">Argentina grain exports halt as maritime pilots strike over Milei decree<\/a><\/li>\n<\/ul>\n<p><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p>Revenue jumped to $7.8bn, up more than 90 percent from the year-earlier period, beating analyst expectations. LSEG had forecast revenue growth of more than $6.9bn, and Bloomberg analysts had forecast $6.8bn.<\/p>\n<p>The Starbase, Texas-based giant ended the second quarter with $100bn in cash, according to United States Securities and Exchange Commission filings.<\/p>\n<div style=\"display:block;position:relative;min-width:0px;max-width:770px\">\n<\/div>\n<p>The company touted several achievements in the quarter, including $6bn in new US government contracts for Starshield, its national security-centric satellite system, and two successful launches of its Starship V3 in the last 90 days.<\/p>\n<p>Starlink and SpaceX\u2019s broader connectivity operations remain the company\u2019s primary financial engine, underpinning Musk\u2019s push to build an AI-first business that extends beyond renting compute capacity to developing frontier models, consumer and enterprise software, and, eventually, data centres in space.<\/p>\n<p>The company\u2019s satellite-internet unit has continued to expand its global subscriber base, aided by launches of additional satellites and a growing range of consumer, enterprise, aviation, maritime and government services.<\/p>\n<p>Investors are watching whether SpaceX can maintain growth while improving the economics of its network, particularly as it spends heavily to expand coverage, increase capacity and develop direct-to-device mobile services.<\/p>\n<div class=\"container--ads in-article-ads\">\n<div class=\"ads\"><span class=\"ads__title\"> Advertisement <\/span><\/div>\n<\/div>\n<p>The company said it spent $18.37bn on Starlink and Starship expansion efforts, in addition to building out its AI infrastructure. Musk said the company expects its \u201cStarmind\u201d AI satellites to be launched next year.<\/p>\n<p>In its AI business, the tech giant had an operating loss of $1.2bn, as the company also released its most powerful Grok model yet. This comes as the company faces lawsuits around the globe for Grok being used to <a href=\"\/news\/2026\/1\/15\/musks-grok-to-bar-users-from-generating-sexual-images-of-real-people\" target=\"_blank\" rel=\"noopener\">generate sexualised images<\/a> of people without their consent.<\/p>\n<div style=\"display:block;position:relative;min-width:0px;max-width:770px\">\n<\/div>\n<p>Separately, SpaceX said it had partnered with Nvidia to use its chips in the Starmind AI1 orbital compute satellites.<\/p>\n<p>When SpaceX debuted on public markets earlier this year, it was the largest stock market debut in history, cementing Musk as the world\u2019s first trillionaire. However, it was a short-lived title because of a sell-off in the broader AI sector and on investor worries that Musk had oversold them on the company\u2019s future prospects for space travel and colonisation, among other issues.<\/p>\n<p>The company\u2019s stock has tumbled 8 percent since its IPO.<\/p>\n<p>SpaceX surged on Tuesday trading. It finished the day up 9.4 percent, but has since tumbled in after-hours trading and was down 7.2 percent since the market close.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ListenListen (3 mins) Save Click here to share on social media share-nodes Share facebookxwhatsapp-strokecopylink googleAdd Al Jazeera on Googleinfo When SpaceX debuted on public markets earlier this year, it was the largest stock market debut in history [File: Justin Sullivan\/Getty Images via AFP] By Al Jazeera Staff, AP and Reuters Published On 4 Aug 20264 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1932","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Elon Musk\u2019s SpaceX reports losses but less than expected - 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