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In its first results since listing, SpaceX reported revenue up 92% year on year and a smaller loss than analysts expected, though its AI spending plans unsettled investors as it signalled a push into mobile against AT&T, Verizon and T-Mobile.
Starlink is SpaceX's satellite internet service, sold to consumers and businesses beyond the reach of cable and fibre. Since SpaceX's stock market listing, the company's finances are public and open to investor scrutiny, which sets it against established US mobile carriers such as AT&T, Verizon and T-Mobile.
SpaceX reported revenue up more than 90% year on year in its first earnings since its stock market listing, with a loss smaller than analysts had expected. The Financial Times reported that its AI spending plans unnerved investors, while Bloomberg said the company signalled ambitions to take on AT&T, Verizon and T-Mobile.