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Image Credits:Michael Nagle/Bloomberg / Getty Images1:36 PM PDT · August 4, 2026
SpaceX doubled its revenue compared to last year, in large part thanks to the growth of its Starlink satellite internet service and deals it struck to rent out computing power to Anthropic and Google, the company revealed in its first quarterly earnings since going public.
Total sales grew from $4 billion in the second quarter of 2025 to $7.8 billion in Q2 2026, a jump of 92%. Nearly $2 billion of that growth came from its AI division, while Starlink revenue also grew by $1.7 billion.
SpaceX’s first quarterly earnings report was released nearly two months after the company pulled off the largest IPO in history. SpaceX raised more than $85 billion and went public at a valuation of $1.75 trillion.
The company’s market cap rocketed up in the first few days of trading, briefly passing Amazon and nearly equaling Microsoft. But it has suffered since then, plunging below the IPO price of $135 per share reportedly set by CEO Elon Musk himself. The shares closed at just over $125 on Tuesday, but sank as much as 8% in after-hours trading.
This story is developing…
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Sean O’Kane is a reporter who has spent a decade covering the rapidly-evolving business and technology of the transportation industry, including Tesla and the many startups chasing Elon Musk. Most recently, he was a reporter at Bloomberg News where he helped break stories about some of the most notorious EV SPAC flops. He previously worked at The Verge, where he also covered consumer technology, hosted many short- and long-form videos, performed product and editorial photography, and once nearly passed out in a Red Bull Air Race plane.
You can contact or verify outreach from Sean by emailing sean.okane@techcrunch.com or via encrypted message at okane.01 on Signal.
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