SpaceX Q2 'Blow Out' Fails to Impress: Stock Drops 8% on Capex Concerns
SPCX is trading near its 52-week low of $104.83 (12% above the low).
Summary
SpaceX reported Q2 revenue of $7.8B, up 92% YoY, with AI revenue surging 247% and Connectivity growing strongly. Despite the beat, shares fell 8% in after-hours trading to $115.28 as investors focused on capex guidance 65% above Street estimates for September and December. Gene Munster called the quarter a 'blow out' and argued the market is 'missing the point,' highlighting a contracted revenue run rate that could hit $100B by year-end. Management commentary added color: Starlink Mobile is slated for end of 2027, and a Moon mission is expected in 2028, which Munster sees as a long-term catalyst. The sell-off reflects near-term spending fears overshadowing strong growth and ambitious expansion plans.
At the time of this announcement, SPCX was trading at $116.95 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 negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.