SpaceX has doubled its revenue year-on-year, driven largely by the growth of its Starlink satellite internet service and new deals renting out computing power to AI firms Anthropic and Google. The results, disclosed in the company's first quarterly earnings report since going public, offer an early look at the financial performance behind what was the largest IPO in history, and come as investors weigh whether SpaceX's soaring valuation is justified.

Total sales rose from $4 billion in the second quarter of 2025 to $7.8 billion in the same period of 2026, a 92% increase. Its AI computing division contributed nearly $2 billion of that growth, while Starlink revenue climbed by $1.7 billion. The earnings follow SpaceX's IPO roughly two months ago, in which it raised more than $85 billion at a $1.75 trillion valuation; its shares briefly pushed the company's market cap above Amazon's and close to Microsoft's, but have since fallen below the $135 IPO price, closing at just over $125 on Tuesday before sinking a further 8% in after-hours trading.