Musk Says SpaceX Revenue Could Hit $1 Trillion a Year Early Even as Stock Slides

SpaceX now expects to reach $1 trillion in annual revenue by 2030, a year sooner than its pre-IPO forecast, CEO Elon Musk said on the company's first earnings call as a public company.

SpaceX shares fell in after-hours trading Tuesday, then extended losses to roughly 14% during Wednesday's session. Investors focused on surging capital spending instead of the earnings beat.

Faster Path to $1 Trillion

Despite its stock performance, SpaceX reported $7.81 billion in second quarter revenue, up 92% year over year. That beat the $6.81 billion analysts expected. Adjusted EBITDA reached $3.5 billion, nearly double Wall Street's $2 billion forecast.

The report marked SpaceX's first earnings beat since going public last month.

Musk addressed the long-term outlook directly on the call, framing the accelerated timeline as an internal projection rather than a promise.

Our internal projections for reaching $1 trillion in revenue… have moved up from 2031 to 2030, and there's a non-zero chance of that being in 2029.

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