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SpaceX Surges with Starlink, Spends Big | Lubbock News
Description
SpaceX just dropped its first quarterly report as a public company, revealing a $541 million loss—way below Wall Street’s expectations—but revenue soared to $7.8 billion, up 90% year-over-year, driven by Starlink’s explosive growth: 12 million subscribers and 66% revenue jump. Elon Musk envisions Starlink powering most of the world’s internet. Yet investors are jittery: SpaceX’s spending ballooned to $18 billion (up from $3 billion) on AI and infrastructure, fueling concerns over future growth, especially around Grok and space travel. Plus, insiders are about to sell shares, adding volatility. Meanwhile, Starship’s next test looms, with NASA eyeing it for moon missions by 2028.
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