SpaceX to report 1st post-IPO earnings amid Starlink funding doubts
SpaceX is about to share its first earnings report since its IPO, and all eyes are on Starlink, its satellite internet project.
Operating profit was $1.19B in Q1, and revenue is expected to reach $3.82B in Q2 2026, but people are wondering if that's enough to fuel SpaceX's big dreams for AI and its Starship rocket.
Starlink tops 10 million users, ARPU falls
At the end of March, Starlink had over 10 million users (double last year's count), but average revenue per user dropped by nearly 25%.
Even so, analyst Will Rhind said, "Starlink is executing beautifully, but it cannot single-handedly fund a $30 billion annualized AI capex program."
The company's spending on AI is skyrocketing, with capital expenses expected to hit $10.2B (more than six times more than last year), raising questions about whether Starlink alone can keep up with these ambitious plans.