SpaceX reported $7. 8 billion in second-quarter revenue, up 92% from a year earlier, in its first earnings report as a public company.
Growth came across SpaceX’s three operating segments: launch services, Starlink connectivity and artificial intelligence. Starlink was the only segment identified as profitable, while the company continued investing heavily in its newer AI operations.
Starlink has more than 11,000 satellites in orbit and remains central to SpaceX’s expansion plans. The company is also developing small data-center satellites powered by solar energy that could provide computing capacity for AI developers, linking its satellite-launching and AI businesses.
One Wall Street analyst argues that the stock looks inexpensive when measured against expected earnings growth.
That comparison does not erase the company’s current losses or the uncertainty surrounding businesses still under development. SpaceX’s valuation therefore rests on whether its strong sales growth and Starlink profitability can support the expectations built around its launch, connectivity and AI operations.