Starlink expansion drove SpaceX’s quarterly revenue beat, while AI segment losses narrowed more than expected, easing investor concerns.
SpaceX reported Q2 revenue of $7.8bn, up from $4.1bn a year earlier, surpassing the $6.81bn estimate. The surge was led by Starlink growth, offsetting broader market concerns about margin pressure from international expansion.
Adjusted EBITDA reached $3.5bn, exceeding the $2bn forecast, while the AI segment’s $1.26bn operating loss was well below the $2.39bn expected. Capex totaled $18.37bn, slightly under the $18.58bn estimate, reflecting disciplined spending amid Starship and AI infrastructure investments.
Shares have declined 8% since the June IPO, with Thursday’s lock-up expiry poised to test sentiment as insider selling may accelerate. The Nvidia-backed Starmind AI satellite project underscores long-term capital commitments, balancing near-term profitability risks.