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SpaceX reports its first earnings, beating in Q2 revenue at $7.8 billion.

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SpaceX reports its first earnings, beating in Q2 revenue at $7.8 billion.

Transcript

53 segments

0:00

On the top line, you've got the second

0:01

quarter revenue that came in at $7.8

0:04

billion. The estimate was for $6.81. So

0:07

that was a beat. SpaceX saying that it

0:10

ended the second quarter with 47.5

0:14

billion in backlog. Also, its second

0:17

quarter AI segment operating loss came

0:20

in at 1.26 billion. That came in under

0:24

what the street was estimating. The

0:25

street was estimating for a loss of 2.39

0:29

billion. Also, second quarter capex

0:32

coming in at 18.37

0:34

billion. The estimate was for 18.58

0:38

billion. So that's shy of what the

0:40

estimate was expecting. Taking a look at

0:44

second quarter Starlink subscribers,

0:46

those came in at 12 million. The

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estimate was for 12.19

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million. Also the second quarter loss

0:53

per share coming in at 9 cents uh per

0:57

share. So uh second quarter AI segment

1:00

total revenue by the way also coming in

1:02

at $2.56 billion. The estimate was for

1:07

28

1:08

billion.

1:10

Uh so connectivity segment by the way

1:12

also just want to add that that revenue

1:14

came in at 4.29 billion. The estimate

1:17

was for 3.88 billion. So quite a few

1:20

beats on some of these metrics that

1:22

we're looking at from SpaceX. And I just

1:24

want to read you also uh from their

1:27

earnings release. Uh they highlight

1:29

demonstrated the power of extreme

1:31

vertical integration delivering revenue

1:33

growth of 92%

1:36

yearover-year across space connectivity

1:39

and AI. Closed multiple industry-leading

1:42

cloud service agreements resulting in

1:44

4.1 billion on contracted sales. uh

1:48

announced the uh uh the agreement to

1:50

acquire cursor for $60 billion to

1:53

accelerate AI enterprise opportunity. Uh

1:57

so quite and also awarded six billion in

2:00

multi-year US government contracts for

2:02

Starshield quite a few metrics. Uh you

2:05

have quite a few bees here I would

2:07

listen to in the earnings call. uh watch

2:10

for obviously commentary on Starlink,

2:12

that's their cash cow, on their launch

2:15

launch services, on the Falcon 9

2:17

Starship launch, and also on that newly

2:19

integrated AI and XAI

Interactive Summary

SpaceX reported its second quarter earnings, showcasing significant growth with revenue of $7.8 billion, surpassing estimates. The company highlighted strong performance in its connectivity segment and AI initiatives, alongside a massive $47.5 billion backlog and strategic investments, including a $60 billion acquisition of Cursor to boost AI capabilities.

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