SpaceX Beats Revenue Estimates with $7.8 Billion in First Post-IPO Earnings Report

SpaceX posted second-quarter revenue of $7.8 billion, a 92% increase from the prior year that outpaced Wall Street estimates, driven by doubling Starlink subscriptions and profitability in its artificial intelligence cloud segment during its first quarterly report as a public company.

The company reported a net loss of $541 million, or 9 cents a share, narrowing from a $1 billion loss in the same period last year. Wall Street consensus had anticipated revenue of approximately $6.9 billion, with earnings per share estimates ranging widely from a loss of $1.26 to a profit of 33 cents. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) nearly tripled to $3.5 billion.

The financial results arrive following a volatile period for SpaceX shares, which have dropped approximately 50% from their peak of $211 shortly after the company’s June 12 initial public offering on the Nasdaq. The release triggers the opening of an insider lockup provision, allowing pre-IPO shareholders to begin selling portions of their equity. A broader release of roughly 900 million shares—exceeding the size of the initial public offering—is set to occur after third-quarter results.

Growth across operational units contributed to the quarterly top-line beat. The Starlink satellite Internet business doubled its subscriber base year-over-year, while an influx of commercial cloud-computing contracts helped move the AI business unit into positive adjusted EBITDA territory for the first time.