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SpaceX Accelerates $1 Trillion Revenue Target to 2030, Stock Slides 14% on Earnings Call

2026-08-05 23:11:36

SPCX-1.98%

On Wednesday, Elon Musk said SpaceX now expects to reach $1 trillion in annual revenue by 2030, a year sooner than its pre-IPO forecast, during the company's first earnings call as a public company. Despite the acceleration, SpaceX shares fell roughly 14% during Wednesday's session. The company reported $7.81 billion in second quarter revenue, up 92% year over year and beating analyst expectations of $6.81 billion, with adjusted EBITDA reaching $3.5 billion versus the $2 billion forecast. Musk noted the accelerated timeline reflects internal projections, stating there is a non-zero chance of reaching the target by 2029.

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