SpaceX reports lower than expected losses

SpaceX reported a $541 million loss for the second quarter, or 9 cents per share, which was less than analysts anticipated. However, revenue surged to $7.8 billion, exceeding expectations and reflecting over 90 percent growth year-on-year. The company secured $6 billion in new U.S. government contracts and continues to expand its Starlink satellite internet services. Despite these achievements, SpaceX’s stock has faced volatility since its historic IPO earlier this year.

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