On August 5, SpaceX declined 3.31% in after-hours trading to $122.79 per share, with turnover of $510 million, retreating despite delivering a comprehensive earnings beat in its first quarterly report as a public company.
SpaceX reported Q2 revenue of $7.814 billion, significantly exceeding the consensus estimate of $6.934 billion and representing approximately 92% year-over-year growth. The per-share loss narrowed to $0.09, far better than the expected $0.24 loss. The AI business segment posted an operating loss of $1.26 billion, roughly half of the $2.39 billion loss analysts had projected. Starlink subscribers reached 12 million, while cash and securities totaled $100 billion with a $47.5 billion order backlog.
Despite the strong results, approximately 912 million restricted shares become eligible for sale within days of the earnings release, representing potential supply pressure of nearly $100 billion. Short interest stood at 34% of the float heading into the report. The company also disclosed that it expects the Cursor merger to close in Q3.
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