Crypto
SpaceX Surpasses Revenue Expectations, Posts Narrowed Loss Amid Bitcoin Slump
SpaceX reported its second-quarter revenue as $7.8 billion, topping Wall Street expectations of $6.9 billion.
The company's net loss narrowed to $541 million from a year-earlier loss of $1.0 billion, while adjusted EBITDA nearly tripled to $3.5 billion on growth in launch, Starlink, and AI businesses.
SpaceX held onto its stash of 18,712 Bitcoin at the end of the quarter, valued at $1.10 billion, down from $1.64 billion a year earlier, coinciding with a 33% price slump for BTC during that period.