SpaceX shares rise nearly 9% after earnings call

SpaceX just delivered its first earnings report as a publicly traded company, and investors initially loved what they saw. Shares climbed 9.4% on August 4, closing at $125.33, after the aerospace giant posted Q2 2026 revenue of $7.8 billion, a 92% year-over-year increase that blew past the roughly $6.8 billion Wall Street had penciled in. Then the after-hours session happened, and the stock gave back most of that gain with an 8% decline. The numbers behind the debut The net loss narrowed to $541 million for the quarter, which came in better than predictions. But the capital expenditure line stopped the celebration cold. SpaceX spent $18.4 billion in Q2, well above the approximately $13 billion analysts had estimated. The bulk of that spending went toward AI infrastructure. Capital expenditures of $18.4 billion against revenue of $7.8 billion means SpaceX is investing $2.36 for every dollar it earns. Musk’s trillion-dollar timeline Elon Musk used the earnings call to announce that SpaceX has pulled forward its internal target for reaching $1 trillion in annual revenue, moving the goalpost from 2031 to 2030. At a current run rate of roughly $31 billion annually (extrapolating from Q2...