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SpaceX shares rise as Q2 results top estimates across segments
SpaceX reported $7.8 billion in Q2 revenue, up 92% year over year, and said it ended the quarter with $100 billion in cash, cash equivalents, and marketable securities.
SpaceX stock has rallied after its public debut, with the shares still about 42% below their mid-June all-time high, according to Yahoo Finance. The outlet points to the company’s second-quarter performance as a key sign that the selloff may have run its course.
SpaceX reported $7.8 billion in Q2 revenue, up 92% year over year, and adjusted EBITDA rose 191% to $3.5 billion, beating revenue and earnings estimates. The quarter also added positives beyond the headline figures, including $100 billion in cash, cash equivalents, and marketable securities.
The company ended Q2 with a $47.5 billion order backlog, which it said improves revenue visibility, and it reported growth across all three operating segments. Space, Connectivity, and Artificial Intelligence are the company’s segments, with Starlink at the center of the Connectivity business.
Yahoo Finance also cited SpaceX’s scale and metrics, including roughly 650 total launches in the Space segment and an 80% market share for global mass to orbit. For Connectivity, it said Starlink reported 12 million subscribers and $66 average monthly revenue per user as of the end of Q2.