SpaceX first earnings report: revenue up 92%, spending up 550%

SpaceX is a company that builds rockets and sends things into space.

It recently let people buy parts of it on the stock market, which happened in June.

For the first time, it shared a big money report with everyone.

The report showed SpaceX made a lot more money than before — $7.8 billion, which is almost twice what it made last year.

But it also spent even more money, $18.3 billion, much of it on artificial intelligence computers.

Its internet-from-space service, called Starlink, made the most money of all.

The rocket part of the business actually lost some money.

Elon Musk, the boss, thinks Starlink could one day give most of the world internet access.

He also wants to team up with a company called Nvidia to put smart computers on satellites.

Musk even has a wild idea about robots on the Moon helping build things.

The report was exciting to investors, and the company says it is on track to earn a lot more soon.