Elon Musk’s SpaceX reports losses but less than expected

Author: Al Jazeera Staff
Published on: 04/08/2026 | 00:00:00

AI Summary:
SpaceX reported a loss of $541m, or 9 cents per share, in the three months through June, less than Wall Street expected. Recommended Stories list of 4 items list 1 of 4Why Israel’s economy hasn’t collapsed during a multi-front war list 2 of 4White House to meet AI firms on advanced model safety list 3 of 4Telegram says Apple suspension followed content norms violation by one user list 4 of 4Argentina grain exports halt as maritime pilots strike over Milei decree end The Starbase, Texas-based giant ended the second quarter with $100bn in cash, according to United States Securities and Exchange Commission filings. Starlink and SpaceX’s broader connectivity operations remain the company’s primary financial engine, underpinning Musk’s push to build an AI-first business. In its AI business, the tech giant had an operating loss of $1.2bn. The company’s stock has tumbled 8 percent since its IPO. 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.

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