SpaceX (NASDAQ:SPCX) Issues Quarterly Earnings Results, Beats Estimates By $0.17 EPS

SpaceX (NASDAQ:SPCX) released its quarterly earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17, FiscalAI reports. The business had revenue of $7.81 billion during the quarter. SpaceX’s revenue was up 91.9% compared to the same quarter last year.

Here are the key takeaways from SpaceX’s conference call:

• Positive Sentiment: Q2 revenue rose 92% year over year to $7.8 billion, while adjusted EBITDA increased 191% to $3.5 billion and the net loss narrowed by nearly half to $541 million.
• Positive Sentiment: Starlink added a record 1.7 million consumer subscribers, maintained $66 monthly ARPU, and delivered strong enterprise and government growth, including more than $6 billion in U.S. government contracts and major airline wins.
• Positive Sentiment: The AI segment generated $2.6 billion in revenue and turned adjusted EBITDA positive at $1.1 billion, supported by cloud-services agreements; management expects an additional $6.7 billion of contracted revenue to begin ramping in October and projects $100 billion of ARR by December.
• Positive Sentiment: Management reported successful Starship flights, said the heat-shield challenge appears largely solved, and expects to attempt vehicle catching on the next flight, with a potential path to daily launches within about a year.
• Negative Sentiment: Capital intensity remains exceptionally high, with $18.4 billion of Q2 capital expenditures—$15.8 billion for AI infrastructure—and management expects each of the next two quarters to have a similar spending level while continuing substantial investment in Starship, satellites, and mobile infrastructure.

SpaceX Trading Up 6.1%

Shares of NASDAQ:SPCX traded up $6.65 during midday trading on Thursday, reaching $114.92. The company’s stock had a trading volume of 253,009,941 shares, compared to its average volume of 110,125,734. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong first public earnings report: Second-quarter revenue rose 91.9% year over year to $7.81 billion, while the $0.09-per-share loss was narrower than the $0.26 loss analysts expected. Starlink remained the primary earnings engine, and AI-related revenue and cloud contracts expanded rapidly. Reuters earnings report
• Positive Sentiment: Bullish growth outlook and analyst support: Management is targeting more than 2 gigawatts of computing capacity this year, projected additional cloud revenue, and long-term revenue of up to $1 trillion by 2030. Bernstein raised its price target and described the quarter as a net positive, while several firms maintained Buy or Overweight ratings. Bernstein raises SpaceX price target
• Positive Sentiment: Terafab investment adds a strategic catalyst: SpaceX and Tesla plan to invest an initial $16.8 billion in a Texas semiconductor facility, potentially supporting SpaceX’s AI-computing ambitions and deepening its technology ecosystem. Reuters Terafab report

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPCX shares. TD Cowen initiated coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating for the company. Wall Street Zen cut shares of SpaceX from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Clear Str upgraded shares of SpaceX to a “strong-buy” rating in a research note on Tuesday, July 7th. Benchmark initiated coverage on SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating on the stock. Finally, New Street Research upgraded SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.71.

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.