SpaceX reported first-quarter revenue of $7.81 billion, a 92% increase from a year earlier, beating analyst estimates of $6.93 billion, according to data from LSEG. The company posted a loss of 9 cents per share, far smaller than the average analyst forecast of a 26-cent loss.
The results were SpaceX's first since its stock market listing in June. The company beat analyst estimates on revenue while posting a loss well below forecasts. SpaceX remains in a phase of heavy investment, having recorded losses of $4.9 billion the previous year, largely due to spending on artificial intelligence infrastructure.
Space and Connectivity Segments
The Space segment reported revenue of $962 million, above the forecast of $835 million, but remained unprofitable with an operating loss of $542 million. The Connectivity segment, which includes the Starlink satellite internet service, remained the company's main source of profit, with revenue of $4.29 billion against forecasts of $3.83 billion and operating profit of $1.66 billion.
AI Segment Losses
The AI segment reported revenue of $2.56 billion, above forecasts of $2.18 billion, but recorded an operating loss of $1.26 billion, reflecting the company's increased investment in artificial intelligence.
