The American company SpaceX, which operates in the space, telecoms and artificial intelligence sectors, saw its revenue rise by 92 per cent year-on-year in the second quarter, helping it to reduce its net loss.
According to its first public financial report, revenue for April–June stood at $7.81 billion, compared with $4.07 billion a year earlier.
The net loss fell to $541 million, or 9 cents per share, compared with $1.01 billion, or 34 cents per share, for the same period last year.
Analysts surveyed by LSEG had, on average, expected a loss of 26 cents per share on revenue of $6.93 billion.
Adjusted EBITDA rose to $3.54 billion in the last quarter from $1.21 billion, whilst capital expenditure rose to $18.37 billion from $2.83 billion.
SpaceX shares fell by 7.5 per cent in after-hours trading on Tuesday following the release of the results. The company went public in June.