SpaceX shares rose 6.5% after the company reported Q2 revenue of $7.8 billion, exceeding analyst estimates by 15%.
SpaceX reported a second-quarter revenue of $7.814 billion, surpassing the consensus estimate of $6.82 billion by approximately 15%. This figure represents a 92% year-over-year growth from the previous year's quarter. The company's AI segment saw a significant surge of 247%, while connectivity revenue grew 66% as the Starlink subscriber base doubled to 12 million. Management is now targeting a $100 billion annualized revenue run rate by December 2026. To achieve this goal, the company must triple its current monthly revenue pace of $2.6 billion. This growth is supported by $6.7 billion in new cloud services contracts and a pending $60 billion acquisition of Cursor. Shares of SpaceX rose 6.5% to $149.16 during the day on Monday. The jump followed back-to-back Falcon 9 rocket launches within 38 minutes, showcasing the company's scaling launch infrastructure. Investors are now looking toward the next Starship test flight and upcoming Q3 disclosures regarding the Cursor acquisition.