Good morning from the Financial Times.
Today is Wednesday, August 5th, and this is your FT News Briefing.
SpaceX outperforms in its first ever earnings report,
and China wants its wealthiest citizens to pay taxes from decades ago.
Plus, Tunisians are outraged over rolling blackouts during an extreme heat wave.
We've seen people angry that their lives are being disrupted
because these kinds of power cuts are unprecedented in Tunisia.
I'm Victoria Craig, and here's the news you need to start your day.
SpaceX shares slid in volatile after-hours trade on Tuesday despite results that beat the streak.
Elon Musk's rocket company said quarterly revenue jumped 92% from a year ago.
It also posted a net loss of about $541 million.
But that was better than the more than $2 billion estimated loss.
The numbers are a first from SpaceX.
It made its stock market debut in June after a record-breaking initial public offering
that crowned Elon Musk the world's first trillionaire.
Rafe Rosner-Udin has been listening to the earnings call for us out in San Francisco.
He joins me now to chat through these results.
Hi, Rafe.
Hi, Victoria.
So growth looked to be accelerating across all of SpaceX's business segments.