SpaceX shows strong growth in its first earnings report since IPO
Elon Musk's rocket, satellite and AI provider reported quarterly revenue of $7.8 billion, topping Wall Street forecasts.
Updated on: August 4, 2026 / 5:28 PM EDT / CBS News
SpaceX on Tuesday reported booming revenue and shrinking losses in its first quarterly earnings report as a publicly traded company, offering a window into its performance after executing the biggest ever initial public offering in June.
Elon Musk's rocket, satellite and AI provider reported second-quarter revenue of $7.8 billion and a net loss of $541 million, improving on a loss of $1 billion in the year-ago period. Analysts had forecast revenue of $6.8 billion for the quarter, according to FactSet.
"All three of the main business units reported revenue ahead of the consensus, including Space, Connectivity and AI," market analyst Adam Crisafulli, head of Vital Knowledge, said in a research note.
Analysts were closely watching subscriber growth for Starlink, given that the satellite division is the company's largest revenue segment. Total revenues in the connectivity unit were $4.3 billion for the quarter, surpassing FactSet analysts' estimate of $3.8 billion as Starlink's subscribers doubled to 12 million, from 6 million in the year-ago quarter.
Musk touted Starlink's rapid growth in a call with Wall Street analysts to discuss SpaceX's financial results.