SpaceX, the satellite, space, and artificial intelligence conglomerate led by Elon Musk, surpassed Wall Street's expectations in its inaugural quarterly financial report as a public company. The company reported revenue of $7.8 billion for the April-June quarter, significantly higher than the $6.81 billion analysts polled by Bloomberg had anticipated. This represents a 92% increase from the same period in 2025.
Despite the strong revenue performance, SpaceX remained unprofitable, reporting a net loss of $541 million for the quarter. This follows a $4.3 billion loss in the first three months of the year. The company's AI business recorded an operating loss of $1.26 billion, which was better than the consensus expectation of a $2.39 billion loss.
The company's capital expenditures were a focal point, with $18.4 billion allocated in the second quarter, primarily for AI infrastructure. This figure was higher than the $13 billion analysts had forecast. Overall capital expenditure came in at $18.37 billion, slightly below the $18.58 billion estimate, but AI-related investments alone totaled $15.8 billion, exceeding the $13.09 billion estimate. SpaceX shares saw a decline of more than 8% in late trading following the report, attributed partly to these substantial AI investment figures.
Key metrics also included AI segment revenue of $2.561 billion against an estimated $2.08 billion, and connectivity segment revenue of $4.29 billion versus an estimate of $3.88 billion. The space segment net sales reached $962 million, surpassing the $873.7 million estimate. Starlink subscribers were reported at 12 million, slightly below the 12.19 million estimate.
