SpaceX posts loss of $541 million in first report since record-setting IPO

SpaceX released its first quarterly financial report since its blockbuster IPO in June. The company's revenue nearly doubled, surpassing Wall Street expectations. Despite this growth, SpaceX reported a loss of $541 million. Prior to the announcement, the company's stock increased by over 10%, providing a positive sign following several weeks of decline. This first earnings report since going public highlights the financial performance of Elon Musk's rocket, satellite, and AI conglomerate during its initial public phase.