Earnings
Home›Earnings›Analyst Ratings›SpaceX shares drop after planned 2026 capital expendit…
SpaceX shares drop after planned 2026 capital expenditures spook investors
SpaceX said 2026 capex could total about $65 billion, after reporting $18.4 billion in the second quarter.
SpaceX shares fell about 11% in early trading on Wednesday after investors focused on the company’s planned capital expenditures, pushing the stock further away from its record high near $225, according to Yahoo Finance.
The outlet said SpaceX reported $18.4 billion in second-quarter capex, well above analyst expectations around $6 billion. Management also indicated third- and fourth-quarter capex could remain similar to Q2, implying full-year capex of roughly $65 billion, compared with Wall Street modeling for about $50 billion this year.
Despite the selloff tied to spending plans, Yahoo Finance reported that SpaceX posted a set of results that beat expectations. Second-quarter revenue was $7.8 billion versus the Street’s $6.8 billion estimate, and EBITDA was $3.5 billion against an estimated $2.1 billion, with the beats driven primarily by AI segment revenue and about $14 billion of cloud services agreements contracted during the quarter.
SpaceX also shared long-term targets, including a $100 billion revenue run rate by the end of 2026 and projected $1 trillion in revenue in 2030, a year earlier than previously articulated. Yahoo Finance noted Elon Musk said the company now expects that milestone in 2030, with a non-zero chance of reaching it in 2029, and that Starlink added 1.7 million subscribers in the quarter.