Second-quarter revenue rose 92% to $7.8bn. Growth was broad-based across the three main divisions, with AI as the standout, where revenue more than tripled.
Operating losses narrowed to $143mn, from $970mn, as margins improved. Connectivity (Starlink) remains the only business unit to generate an operating profit, up 79% on last year.
Free cash outflow widened to $16.0bn as capital expenditure rose to $18.4bn, with the bulk directed toward the AI business. Net cash, including lease liabilities, was $60.6bn at the end of the quarter.
The shares fell 6.5% in early trading.
Our view
HL view to follow.
SpaceX key facts
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