SpaceX Pulls $1 Trillion Revenue Target to 2030 as Q2 Revenue Soars 92%
SPCX is trading near its 52-week low of $104.83 (11% above the low).
Summary
SpaceX just delivered a massive Q2 beat and accelerated its internal timeline for hitting $1 trillion in annual revenue by a full year to 2030, with Musk floating a 'non-zero chance' of 2029. Revenue jumped 92% YoY to $7.81 billion, crushing the $6.93 billion consensus, while the loss per share of $0.09 was far narrower than the $0.24 expected. Starlink doubled its subscriber base to 12 million across 167 countries, and the company disclosed $14.1 billion in contracted cloud deals. Management also guided to over $100 billion in annual recurring revenue by December. This follows the 8-K filed yesterday with the raw numbers, but the call added the pulled-forward $1 trillion target and the ARR forecast — both new, concrete signals of accelerating momentum. The stock initially surged 9.4% to $125.33 before giving back over 7.5% overnight, reflecting the tug-of-war between explosive growth and a still-unprofitable bottom line. With 78 launches year-to-date and two successful Starship V3 tests, the operational engine is firing on all cylinders.
At the time of this announcement, SPCX was trading at $115.98 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Benzinga.