Published on 05/08/2026 - 9:42 GMT+2

SpaceX delivered a narrower loss than expected by analysts along with strong revenue growth in its initial set of quarterly results since going public.

The firm, active in rockets, satellites and artificial intelligence, boosted outlays notably during the period with a focus on AI initiatives.

Elon Musk's company recorded a net loss of $541 million (€469mn) or 9 cents per share for the quarter ending in June.

This figure came in well below projections from market watchers. Revenue climbed to $7.8 billion (€6.8bn), marking an increase of over 90 percent compared to the same period last year.

SpaceX's connectivity segment stood out as the primary revenue driver. Income from this area grew 66 percent year-over-year, supported by Starlink satellite internet subscribers rising to 12 million, a doubling from prior levels.

"It is possible that Starlink could eventually provide most of the internet access worldwide," Musk noted during a discussion with analysts.

Stock swings on IPO worries

SpaceX shares climbed 9 percent during regular trading on Tuesday yet surrendered most gains in after-hours activity. The stock has dropped around half its value since a June peak that followed the initial public offering, which briefly positioned Musk as the first trillionaire globally.

Investors worry that Musk may have overstated opportunities in space travel and the Grok AI tool. Markets also anticipate swings later this week as a lockup period ends, allowing certain insiders to sell shares.

The shares had surged 19 percent on their trading debut in June. Combined with declines at Musk's Tesla, his net worth has fallen to $783 billion (€679 billion) per Forbes estimates.

AI spending under scrutiny

Outlays for infrastructure and research and development at SpaceX rose to $18 billion (€15.6bn) from under $3 billion (€2.6bn) the previous year. Chief financial officer Bret Johnsen indicated that elevated capital spending would continue for the next two quarters.

Musk justified the investments, noting similar patterns among other tech firms advancing AI capabilities.

He added that this expansion would allow SpaceX to hit $1 trillion (€870bn) in yearly revenue by 2030, ahead of the prior 2031 target.

Starship tests loom

Musk addressed multiple queries on Starship, the large rocket key to long-term goals. It achieved satellite deployment in a recent test flight.

He outlined plans to evaluate reusability by month's end through an attempt to recover the vehicle and booster using mechanical arms.

NASA intends to employ Starship for lunar astronaut missions.

"Our aim is to achieve a Moon landing in 2028," stated SpaceX President Gwynne Shotwell.

Over 900 million shares will become tradable on Thursday, more than doubling current availability as initial lockup restrictions lift across coming months.

SpaceX also holds ownership of the social media platform X, formerly known as Twitter.