SpaceX released its first quarterly earnings report since its IPO in June 2026, posting Q2 2026 revenue of $7.8 billion, a 92% year-over-year increase that exceeded Wall Street expectations. Shares surged 9.4% on August 4 to close at $125.33, then gave back most of those gains with an 8% after-hours decline as the company disclosed $18.4 billion in capital expenditures, mostly directed toward AI infrastructure. The net loss narrowed to $541 million, and Elon Musk moved up the company’s $1 trillion annual revenue target from 2031 to 2030.
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