theguardian_business

SpaceX beats revenue expectations in first earnings report after IPO crash

📰 source: theguardian_business · 💼 business

spacex beat wall street revenue expectations in its first earnings report since june's record ipo, reporting $7.81bn in revenue versus a predicted $6.93bn. the company still lost $541m, though that's nearly half the $1bn loss from a year earlier.

on tuesday's investor call, elon musk called it "another milestone year" and talked up starship launches and a future moon city. the revenue pop came from all three businesses: space brought in $962m, connectivity $4.29bn, and ai $2.56bn, each beating forecasts. but shares fell 8% in after-hours trading, weighed by heavy capex and a stock that's down 50% from its peak.

the big test comes thursday, when over 900m lockup shares hit the market — more than double the current float — which could pressure the stock further. analysts remain split: some see the beat as proof the machine works, others warn the combination of negative free cash flow and a shifting rate cycle is a tough sell.

why it matters: first earnings since a record ipo shows revenue beat but losses and lockup supply loom, testing investor patience.

source: theguardian_business
sentiment: +0.40 · impact: 0.80

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

Read more

Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects