SpaceX Shatters Records with $7.8B Revenue in Inaugural Public Earnings Report
Elon Musk’s SpaceX made a spectacular debut on Wall Street, announcing its first-ever quarterly earnings as a publicly traded company. The figures were a revelation, with the aerospace and artificial intelligence titan reporting a revenue of $7.8 billion for Q2 2026, nearly double the same quarter the previous year, and far surpassing Wall Street predictions.
The driving force behind this revenue boom is Starlink, SpaceX’s satellite internet division. Currently boasting 12 million subscribers — a figure that has doubled in just a year — Starlink alone generated nearly $1.2 billion in profit for the quarter. This makes it the primary earnings powerhouse of the company. SpaceX CFO Bret Johnsen revealed that the company is on track to reach $100 billion in annualized recurring revenue by the close of the year.
Despite the revenue triumph, SpaceX still recorded a net loss of $541 million. This is due to its continuous investment in AI infrastructure, rocket development, and the expansion of the Starlink satellite network. Capital expenditures skyrocketed more than sixfold from the previous year to $18.37 billion, with $15.83 billion of that allocated to AI. The company, which went public in a record-breaking IPO on June 12, 2026 at $135 per share, currently holds $93.5 billion in cash following the offering.
Elon Musk highlighted that Starlink now provides “incredible uptime and low latency,” positioning it as a primary internet provider for offices and agencies, rather than just a backup option.
Source: CNBC — SpaceX earnings takeaways: Soaring AI costs outweigh revenue beat in first report since IPO