SpaceX just delivered its first earnings report as a publicly traded company, and investors initially loved what they saw. Shares climbed 9.4% on August 4, closing at $125.33, after the aerospace giant posted Q2 2026 revenue of $7.8 billion, a 92% year-over-year increase that blew past the roughly $6.8 billion Wall Street had penciled in.
Then the after-hours session happened, and the stock gave back most of that gain with an 8% decline.
The numbers behind the debut
The net loss narrowed to $541 million for the quarter, which came in better than predictions.
But the capital expenditure line stopped the celebration cold. SpaceX spent $18.4 billion in Q2, well above the approximately $13 billion analysts had estimated. The bulk of that spending went toward AI infrastructure.
