SpaceX Reports 92% Revenue Surge in First Public Earnings
Space Exploration Technologies Corp. reported 7.8 billion dollars in revenue during its first public earnings report, though high capital spending led to a share price decline.
Space Exploration Technologies Corp. reported a 92% revenue surge to $7.8 billion in its first public earnings report. The company's financial growth was offset by investor concerns regarding high capital expenditures, which caused shares to fall following the announcement.
CEO Elon Musk provided an updated outlook for the company's long-term financial goals. He stated that the timeline for SpaceX to reach $1 trillion in annual revenue is now set for 2030, though he noted there is a possibility this could occur as early as 2029.
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