SPCX reports Q1 revenue of $7.8 billion, exceeding expectations with Starlink customer base doubling year-over-year.
SpaceX reported its first earnings as a public company, delivering a GAAP earnings per share of $-0.09 on revenue of $7.8 billion. The results surpassed market expectations, driven by strong growth in its Starlink satellite internet business.
The company doubled its Starlink subscriber base compared to the same period last year, reflecting expanding global demand for broadband services. Revenue growth was also supported by increased launch activity and AI-related ventures.
Shares of SPCX showed modest gains in after-hours trading following the release, though market reaction remained measured ahead of further details on profitability and cash flow.