SpaceX Beat Expectations in Its First Earnings Report Since Going Public. Here's Why the Market Still Isn't Thrilled
The company's capital expenditures soared like a rocket this past quarter, and investors weren't impressed.
Overview
Space Exploration Technologies Corp (NASDAQ: SPCX), better known as SpaceX, posted its second-quarter numbers yesterday, marking its first earnings report since it went public in June. Investors likely weren't surprised to see the company incur another loss while growing revenue, as this is a business that's spending significantly on growth and has only one profitable segment: its connectivity business, which centers around Starlink.
However, the company beat expectations, with both its top and bottom lines better than Wall Street expected. Often, that can be enough to send a stock rallying, and it could be the catalyst needed to turn a struggling stock around. SpaceX, while it started hot when its IPO first came out, has been crashing in recent weeks.
Details
Why isn't the market thrilled with the results, and could SpaceX end up falling below $100?
Source
Originally published at www.fool.com.