SpaceX revenue surges 92% to $7.8 billion, blowing past Wall Street expectations

SpaceX reported a 92% year-over-year revenue increase to $7.8 billion for the second quarter, surpassing Wall Street estimates despite posting a net loss of $541 million and incurring $18.4 billion in capital expenditures. The company’s AI segment drove significant growth with $2.6 billion in revenue, while Starlink subscribers doubled to 12 million, contributing to an adjusted EBITDA of $3.5 billion. Following the earnings release, SpaceX shares fell over 7% as investors weighed the high spending against future returns ahead of upcoming lockup expirations.