SpaceX just dropped its first quarterly earnings report as a public company, and the numbers are the kind that make Wall Street analysts spill their coffee. The Elon Musk-led space enterprise posted $7.8 billion in Q2 2026 revenue, a 92% jump from roughly $4.1 billion in the same quarter last year.
That figure beat Wall Street expectations of approximately $6.9 billion.
Starlink is the real engine here
Starlink generated $4.3 billion in revenue during Q2, a 66% increase year-over-year. Its subscriber count doubled to 12 million users.
For the full year of 2025, Starlink contributed $11.4 billion out of SpaceX’s total $18.7 billion in revenue. That’s 61% of the entire business coming from beaming internet from space.
