SpaceX releases its first quarterly earnings report as a public company, reporting revenue of $7.8 billion for the quarter, which all outlets describe as topping Wall Street expectations. Multiple reports cite the figure as about a 92% year-over-year increase, and several note that analysts had forecast lower revenue—around $6.8 billion on average—based on consensus estimates. While revenue growth is a central headline, the results also show heavy spending. Quartz and other coverage highlight that capital expenditures total $18.4 billion, a level that draws investor concern. NPR likewise describes executives as pouring funds into areas including rocket development, Starlink satellites, and AI. Bloomberg additionally reports that SpaceX posts an operating loss of $1.26 billion from its AI business, but says the loss is smaller than expected, suggesting some improvement versus analyst estimates. Reuters-like stock reaction coverage is reflected in Quartz, which says the stock falls after the first earnings report, despite the revenue beat. Other outlets emphasize strong performance across satellite and AI-related operations.