SpaceX Revenue Doubles in First Public Quarter — Shares Drop Below IPO Price

SpaceX's first earnings report since its $85 billion IPO showed Q2 2026 revenue of $7.8 billion, up 92% year-over-year. Shares nonetheless fell as much as 8% in after-hours trading, closing below the $135 IPO price. The market is weighing how to value a company spanning launch services, Starlink's 10.3 million subscribers, and $26 billion in annualized AI compute leases to Google and Anthropic.