The company has reported a revenue of $7.8 billion for the second quarter, a significant increase of 92 per cent compared to the same period a year earlier. This figure surpasses analysts' average estimate of $6.8 billion, indicating a strong performance by the company in its first earnings report since its flotation in June.
The company's AI business, which includes AI operations, has been a major area of investment and has shown substantial growth. AI revenue rose by 247 per cent year on year to $2.56 billion, while losses in this division narrowed to $1.3 billion from $1.5 billion.
Space revenue grew by 29 per cent year on year to $962 million, while losses in the space division widened to $542 million from $369 million. The segment covers commercial launches, government missions, and development of Starship. The company attributed the growth in space revenues to a "higher number of large customer launches" compared to the previous year.
The company's chief financial officer, Bret Johnsen, stated that revenue growth "accelerated across all our business segments". This highlights the company's diversification and growth across various areas.
The company was founded by Elon Musk, 55, in 2002 as an aerospace manufacturer and space transportation company, with the goal of reducing launch costs to enable the colonisation of Mars. Since then, it has grown into the world's largest rocket business, launching thousands of Starlink satellites and developing reusable rockets.
The company disclosed its finances for the first time in May, reporting revenue of $18.7 billion for 2025 and a net loss of $4.9 billion. The company plans to expand its operations, with plans to build a city on the moon and establish data centres in space.
