**Title: SpaceX Reports First-Ever Earnings: Revenue Soars, Spending Surges**
**Date: August 4, 2026**
In a significant milestone, SpaceX has released its inaugural quarterly earnings report since becoming a publicly traded company in June 2026. The report reveals a dramatic increase in revenue, nearly doubling year-over-year, but also highlights a staggering rise in expenditures, leading to a substantial net loss.
According to the report, SpaceX's revenue surged by 92%, reaching $7.8 billion (£5.8 billion) compared to the same period last year. However, the company's spending skyrocketed by over 550%, totaling $18.3 billion. This financial strain resulted in a net loss of $2 billion for the first half of the year.
Following the earnings announcement, SpaceX's stock experienced a nearly 9% drop in after-hours trading. Elon Musk, the company's CEO, addressed analysts and investors, suggesting that the market may be "underestimating" the potential of SpaceX. He pointed to the profitability of Starlink, the company's satellite internet service, which generated $1.6 billion in revenue during the second quarter. Musk expressed optimism about Starlink's future growth, stating, "It's not out of the question that, at some point, Starlink will operate most of the world's internet."
Musk also discussed the anticipated expansion of SpaceX's emerging business segment focused on providing computing power for artificial intelligence (AI) projects. Currently, the company has 1.4 gigawatts of compute power available, with plans to increase that capacity to at least 10 gigawatts by next year through the development of new data centers. Musk remarked, "Data centres are a trivial problem compared to making reusable rockets."
Despite the positive outlook for Starlink and the AI segment, the space division of SpaceX reported a net loss of $542 million against revenues of $962 million for the second quarter. Additionally, the AI business incurred a loss of $1.2 billion, generating $2.5 billion in revenue during the same period.
Bret Johnson, SpaceX's head of finance, indicated that the company's capital expenditures would remain at a "very similar" level for the remainder of the year. In a bold prediction, Musk stated that SpaceX could achieve $1 trillion in revenue by 2030, a year earlier than his previous estimate.
Despite Musk's optimistic projections, the company's share price has faced challenges. Following the earnings report, shares fell by over 7% in after-hours trading, erasing gains made earlier in the day. Tech analyst David Nicholson noted that while SpaceX's expenses were not unexpected, he views the stock as a long-term investment rather than one based on immediate financial fundamentals. He plans to invest in the company, citing its ambitious vision and the advancements being made at Tesla, Musk's electric vehicle company.
Analysts have varied opinions on SpaceX's performance. Brady Wang from Counterpoint Research acknowledged the strong subscription numbers for Starlink but emphasized that it remains the only profitable segment of the company. Fabien Yip from investment platform IG cautioned that the AI business is still operating at a loss, making it a stretch to claim that the entire company is being underestimated. Yip also noted that controversies surrounding Musk's political views could impact investor sentiment.
Despite its challenges, SpaceX has made headlines for achieving the largest-ever public listing and briefly surpassing the market valuations of established giants like Microsoft and Amazon. However, since reaching an intraday high of $176 in June, the company's stock has steadily declined, trading below its initial public offering price of $135 for several weeks.
As SpaceX navigates its financial landscape, the company's future will depend on its ability to manage spending while capitalizing on the growth of its profitable segments, particularly Starlink and AI services. Investors and analysts alike will be watching closely to see how the company adapts in the coming quarters.