SpaceX posts narrower loss, revenue surge as Starlink subscribers double

In its first quarterly filing as a public firm, SpaceX posted a loss of $541 million, or 9 cents per share, markedly less than Wall Street forecasts. Revenue climbed to $7.8 billion, up more than 90% from a year earlier, propelled by a 66% rise in Starlink earnings as the subscriber base doubled to 12 million. The firm’s capital expenditures surged to $18 billion, up from under $3 billion a year ago, and the CFO indicated similar spending will persist for the next two quarters.

Shares rose 9% during regular trading but gave back most gains after hours, reflecting investor concerns over heavy spending and upcoming insider sell-offs. The lockup provision will expire this week, releasing over 900 million shares, more than doubling the float. SpaceX also highlighted progress on its Starship vehicle, with a recent satellite-deployment test and plans to assess reusability soon.