SpaceX’s first financial report after going public is out! Q2 revenue increased by 92% year-on-year, Starlink became the only profitable department

According to Kuai Technology News on August 5, after the U.S. stock market closed on Tuesday, SpaceX announced its first financial report since its listing. The financial report shows that thanks to the strong growth of Starlink satellite Internet business and AI business, SpaceX’s quarterly revenue has nearly doubled, while operating losses have narrowed significantly. Specifically, SpaceX's second-quarter revenue reached US$7.8 billion, a year-on-year increase of 92%, much higher than the US$4.1 billion in the same period last year, and far exceeding market expectations of US$6.93 billion. Among them, Starlink business revenue increased by 66% year-on-year, accounting for more than half of the company's total revenue; while AI business revenue increased by approximately 250% year-on-year, which is the future growth engine that Musk has previously focused on. SpaceX's net loss in the second quarter was US$541 million, which was US$467 million narrower than the US$1 billion net loss in the same period last year. Musk said on the earnings call: "We believe that we are building AI computing capabilities on a large scale faster than any other company, and at the same time significantly improving the level of our AI models." In the second quarter, SpaceX's AI business operating losses narrowed, and the company's overall operating losses also dropped significantly to $143 million, compared with $970 million in the same period last year. Capital expenditures in the second quarter were approximately $18.4 billion, compared with only $2.83 billion in the same period last year. Among them, AI business-related capital expenditures are approximately US$15.8 billion, accounting for 86% of the overall capital expenditures. Currently, SpaceX’s largest business segment is the network connection business, and Starlink services are still the company’s main source of revenue and support Musk’s strategic goal of building an “AI-first” technology company. SpaceX disclosed that the Starlink business achieved revenue of US$4.3 billion in the second quarter, a year-on-year increase of 66%. At the same time, Starlink was also the company’s only business unit to achieve operating profits in the latest quarter. The Starlink business continues to expand its global user base, mainly due to SpaceX's continuous launch of more satellites and its continuous expansion of services in the consumer, enterprise, aviation, maritime and government fields. However, as SpaceX enters more international markets and launches lower-priced packages, Starlink’s average revenue per user (