Get Quartz in your inbox

Free daily briefing on global business news.

SpaceX's revenue surged 92% — but the stock fell after its first earnings report

The company posted $7.8 billion in revenue, topping estimates, but capital expenditures of $18.4 billion rattled investors

Justin Sullivan / Getty Images

SpaceX's second-quarter earnings release — the first since its June IPO — showed $7.8 billion in revenue, a 92% jump from a year ago, clearing Wall Street's expectations on Tuesday.

SpaceX's net loss for the quarter came to $541 million, narrowing considerably from the $1 billion loss it recorded in the year-ago period. Adjusted EBITDA reached $3.5 billion, up 191% year-over-year.

Analysts polled by FactSet had estimated revenue of $6.8 billion and a net loss of $1.9 billion, according to CNN.

SpaceX stock fell as much as 8% in after-hours trading........

© Quartz