Cents Per Share, for the Quarter Ending June, Less Than Half of Analyst Expectations, While Revenue Jumped to $7.8Bn, Up Over 90 Percent

LSEG had forecast revenue above $6.9bn, and Bloomberg analysts projected $6.8bn. The Starbase, Texas-based company ended the quarter with $100bn in cash, per SEC filings. It secured $6bn in new US government contracts for Starshield and completed two Starship V3 launches in 90 days.

Starlink and connectivity operations remain the primary revenue driver, supporting Musk's AI-first strategy. The company spent $18.37bn on Starlink, Starship expansion, and AI infrastructure. Musk said Starmind AI satellites will launch next year.

The AI business posted a $1.2bn operating loss as it released its most powerful Grok model, amid global lawsuits over Grok generating non-consensual sexualised images. SpaceX partnered with Nvidia for chips in Starmind AI1 orbital satellites. After its record-breaking public debut earlier this year, making Musk the world's first trillionaire, the stock has tumbled 8 percent since the IPO. On Tuesday, shares surged 9.4 percent but fell 7.2 percent in after-hours trading.