SpaceX reports 92% revenue rise in first earnings since IPO

SpaceX’s first quarterly earnings as a public company landed the way the company tends to do most things: ahead of schedule and louder than expected. The aerospace giant reported $7.8 billion in Q2 2026 revenue, a 92% jump from the roughly $4.7 billion it posted in Q1, blowing past analyst estimates that had clustered between $6.8 billion and $6.9 billion. What actually drove the numbers Two businesses did the heavy lifting: Starlink, the satellite internet unit, and the AI segment SpaceX absorbed when it merged with xAI in February 2026. Starlink ended Q1 with 10.3 million subscribers, roughly double where it was a year earlier. SpaceX’s Nasdaq debut in June 2026, priced at $135 per share, raised $75 billion and became the largest IPO in history, briefly pushing the company’s valuation to around $1.8 trillion. Since then, the stock has pulled back somewhere between 30% and 50% from its peak, driven largely by unease about whether AI spending will convert to margins at the pace the market priced in at launch. The Bitcoin angle investors probably didn’t expect Buried in SpaceX’s financial disclosures is a detail that will interest a specific, vocal corner of the market: the company ...