SpaceX's second quarter revenue jumps 92% to $7.8B, beating estimates on surging AI and Starlink growth.

Space Exploration Technologies Corp. reported second quarter revenue of $7.81 billion, up 92% year-over-year, and a net loss of $0.09 per share. These results significantly beat analyst expectations for $6.9 billion in revenue and a loss of $0.26 per share, driven by explosive growth in the company's AI and Connectivity segments.

Key Highlights

• Revenue grew 92% YoY to $7.81 billion, powered by a 247% increase in the AI segment and a 66% rise in the Connectivity segment.
• The company's AI segment secured $14.1 billion in new contracted sales from Cloud Services Agreements, contributing to a $2.6 billion revenue total for the quarter.
• Starlink subscribers doubled year-over-year to 12.0 million, meeting analyst expectations and driving Connectivity segment revenue up 66% to $4.3 billion.
• Net loss narrowed to $541 million from $1.0 billion in the prior-year quarter, while Adjusted EBITDA grew 191% YoY to $3.5 billion.