The inaugural quarterly financial statement from SpaceX surpassed market projections for top-line growth, yet the company’s stock price faced a significant downturn during extended trading. Investors reacted to a substantial increase in capital outlays, particularly within the artificial intelligence sector, which continues to drive a net loss despite a near doubling of total revenue compared to 2025.
The share price of the aerospace and telecommunications firm declined 7.5% in the after hours trading session following the disclosure of $18.4 billion in quarterly capital expenditures. This spending level significantly exceeded the $13 billion previously anticipated by industry analysts. A vast majority of these funds—approximately $16 billion—was directed toward the xAI business and supporting compute infrastructure.
Total revenue reached $7.8 billion for the period ending June 2026, marking a 92% year-over-year increase. Starlink remains the primary financial driver, generating $4.3 billion in revenue and doubling its user base to 12 million subscribers. The artificial intelligence division reported a 247% revenue surge, reaching $2.6 billion, largely through cloud service contracts with partners such as Anthropic and Google. Meanwhile, the rocket launch segment saw a 29% increase in revenue, though it continues to absorb significant development costs related to the Starship platform.
Chief Executive Elon Musk provided an optimistic outlook, suggesting that SpaceX could reach an annual revenue target of $1 trillion by 2030, or potentially as early as 2029. This internal forecast is notably higher than external projections, with FactSet estimating roughly $207 billion in revenue by 2029. To support these goals, the company intends to expand its compute capacity to 10 gigawatts by the end of next year, utilizing hardware exclusively from Nvidia. Additionally, management indicated a goal of launching the Starship vehicle on a daily basis within the coming year to lower deployment costs for orbital infrastructure.
The company’s net loss for the second quarter stood at $541 million, a reduction from the $4.3 billion loss recorded in the first quarter of 2026. However, immediate pressure on the share price is expected to persist as a post-IPO lock-up period expires this Thursday. This event will allow early stakeholders and employees to liquidate nearly one billion shares, potentially increasing market volatility.
