SpaceX’s revenue exceeded Wall Street’s expectations in the company’s first quarterly financial report following its blockbuster initial public offering in June. Elon Musk’s satellite, space and artificial intelligence conglomerate reported revenue of $7.8 billion on Tuesday, greater than than the $6.81 billion analysts polled by Bloomberg estimated on average. It also unveiled an operating loss of $1.26 billion from its AI business, better than the consensus for a loss of $2.39 billion.
SpaceX’s eagerly awaited quarterly results cap a roller coaster ride since the company raised $86 billion in the largest stock-market debut of all time. Its shares have since plunged in a bout of post-IPO volatility and a broader AI selloff, erasing more than $1 trillion in market value from their peak along with Musk’s status as the world’s first trillionaire. We get reaction from Bloomberg Tech host Ed Ludlow, and Mandeep Singh, Global Head of Technology Research for Bloomberg Intelligence.
——–
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/
Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/
More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio
Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals
Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts
The latest financial news and market analysis, direct from Bloomberg TV, it is distributed globally, reaching over 310 million homes worldwide….brought to you by SloppBoxx.
back log represents the circular spending, all of the companies have backlogs of each other
So SpaceX’s own AI isn’t popular or good enough for them to be utilizing their own compute, meanwhile their competitors can’t get enough compute. And somehow you are twisting that into a good thing for this company that claimed in their IPO that their AI was going to be responsible for a majority of their future growth? That’s like if my restaurant failed and so I rented it out to a competitor who was doing so well they needed a second location. Sure I might be making some rent money but nobody would have confidence in my future as a restaurant owner.
they had 16 billion dollars in capex on AI with revenue at 7.8 billion. thats all they have to say. it is a massive shitsandwitch
So many comments here attempting to devalue SpaceX. People only criticize something that strongly when they have something to gain from seeing it fail.
This is Enron, Theranos and FTX all over again
I’m investing in Elon’s Hyperloop! Any day now…
ROFL – clowns trying to prop a stock that is 20 years away from realizing any of the CEO’s dreams, if they survive that long.