SpaceX Beats on First Earnings as a Public Company — Shares Fall 7%

SpaceX's first quarterly report since its $86 billion June IPO showed $7.8 billion in Q2 revenue, up 92% year-over-year, and a 9-cent per-share loss versus the 26 cents analysts expected. The net loss of $541 million improved by $467 million from a year earlier. Shares still fell 7% after hours, suggesting the bar set by the stock's 77-times-earnings valuation sits above even a beat.