SpaceX now expects to reach $1 trillion in annual revenue by 2030, one year earlier than its previous forecast, CEO Elon Musk said on the company’s first earnings call as a public company. The firm delivered strong second quarter results with $7.81 billion in revenue, up 92% year-over-year, beating the $6.81 billion analyst consensus. Its adjusted EBITDA reached $3.5 billion, nearly double the $2 billion market forecast. Capital expenditures surged to $18.37 billion, with $15.83 billion allocated to its AI business, triggering a roughly 14% stock decline. A lockup expiration this week could release nearly a fifth of outstanding shares, adding further pressure on the stock.
Source: Read the original article
