SpaceX has delivered its first-ever quarterly business report, which showed revenue nearly doubled but its spending skyrocketed. The company, run by Elon Musk, builds space rockets and Starlink internet satellites and owns the social media platform X. It began trading on the US stock market in June. SpaceX said its revenue had grown 92% to
Elon Musk spent SpaceX’s first earnings call making some out-of-this-world claims about the company’s business and future prospects, while his fellow executives kept trying to bring his ideas closer to Earth — providing a hint of what’s to come now that his rocket-launching, compute-leasing, satellite-based telecom is public. The conference call, held Tuesday, was the
SpaceX delivered its first earnings report since going public in June, arriving at a sensitive time for the stock, which has tumbled 15% from the $135 offering price. SpaceX shares dropped 7% after hours following the earnings, which revealed better than expected revenue but AI capex higher than Wall Street estimates. While overall capex came
Palantir CEO Alex Karp took a victory lap over the company’s explosive growth, saying it managed to boost its commercial business using a “miniscule and shrinking” sales team. In the shareholder letter accompanying Monday’s second-quarter results, Karp said it was another case of Palantir ignoring the norms of growing a business. “On a quarter-by-quarter basis,
Snap CEO Evan Spiegel sidestepped investors’ questions about preorder demand for the company’s long-awaited Specs smart glasses during Monday’s earnings call, just weeks before the device’s September launch event. “What we’re hearing from folks is really that they want to try Specs,” Spiegel told investors. “It’s obviously a high consideration purchase at $2,195. Obviously, developers
When it was Alex Karp‘s turn to speak on Palantir’s second-quarter earnings call Monday evening, the CEO could barely contain his excitement. Grinning as he repeatedly pounded his pen on the table—and taking jabs at unnamed Silicon Valley AI competitors who “eat vegetables” and don’t support the U.S. military—a pugnacious Karp reveled in what he