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

SpaceX's first earnings report since going public showed Q2 2026 revenue of $7.8 billion, nearly double last year. Shares still fell 8% after hours, closing below the $135 IPO price. Investors are unsure how to price a company that does rocket launches, runs Starlink with 10.3 million subscribers, and rents $26 billion a year in AI computing power to Google and Anthropic.