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Closing Bell: SpaceX Reports First Earnings Since IPO
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar and Tim Stenovec.
- SpaceX (SPCX)’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 expected on average. 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 expected on average. It also unveiled an operating loss of $1.26 billion from its AI business, better than the consensus expectation for a loss of $2.39 billion. Shares in SpaceX fell in US postmarket trading after the company unveiled a loss per share of 9 cents, less than the 24-cent loss Wall Street expected.
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