SpaceX Beats on $7.8 Billion Revenue as Musk Targets $1 Trillion by 2030
Updated
Updated · Yahoo Finance · Aug 13
SpaceX Beats on $7.8 Billion Revenue as Musk Targets $1 Trillion by 2030
3 articles · Updated · Yahoo Finance · Aug 13
Summary
$7.8 billion in quarterly revenue—up 92% year over year—helped SpaceX beat Wall Street estimates, while net losses narrowed to $143 million from $541 million and EPS came in at -$0.09.
AI hardware and Starlink drove the outperformance: compute revenue surged 247% to $2.6 billion on contracts with Alphabet and Anthropic, while connectivity revenue rose 66% to $4.3 billion.
Elon Musk told investors SpaceX could reach $1 trillion in annual revenue by 2030, with a 'non-zero' chance in 2029, and said annual recurring revenue could hit $100 billion by year-end from a $10.4 billion June run rate.
Starlink subscribers doubled to 12 million, and Musk said the V3 satellite is roughly 10 times more capable than V2, supporting his case for much higher future monetization.
The results follow a volatile post-IPO stretch in which SpaceX shares fell 53% from their peak before stabilizing around the first lockup expiry, even as some analysts warned the stock's rebound was outrunning fundamentals.
As SpaceX pivots to AI infrastructure, will its astronomical capital expenditures disrupt traditional tech monopolies or bankrupt the space pioneer?
With AI revenue set to eclipse rocket launches next month, is SpaceX secretly abandoning Mars ambitions for cloud computing dominance?
Can Musk's multi-billion dollar gamble on orbital data centers solve Earth's crippling AI power constraints before terrestrial energy breakthroughs occur?