SpaceX has released its first-ever quarterly earnings report since going public in June, revealing that although revenue nearly doubled, spending surged even faster, resulting in a net loss. The results have unsettled investors, as the Elon Musk-led company has already seen its share price slide well below its debut level despite briefly overtaking rivals such as Microsoft and Amazon in market value.

Revenue rose 92% year-on-year to $7.8bn (£5.8bn), but spending jumped more than 550% to $18.3bn, leaving the company with a net loss of $2bn over the first six months of the year. Shares fell nearly 9% in after-hours trading, wiping out the day's gains, and have been trading below their $135 debut price for several weeks, having peaked at $176 in June.