SpaceX Delays Orbital Starship Flight, Stock Drops
SpaceX delayed its first orbital test flight of the Starship rocket from September 22 to September 28 without providing a reason. The upcoming mission will see Starship reach an altitude of about 275 kilometers and complete six Earth orbits before splashing down in the Pacific Ocean. This launch is also expected to deploy 26 next-generation Starlink V3 satellites, each adding significant capacity to SpaceX's satellite network. The company reported $7.8 billion in revenue for Q2 2026, a 92% increase from last year and its first earnings report since the June IPO. However, it recorded an operating loss of $542 million in the space segment due largely to Starship R&D costs. Capital expenditures reached $18.4 billion during the quarter, raising concerns among investors. Following these developments, SpaceX stock fell as much as 8% after hours on earnings-related worries and technical setbacks like a failed engine ignition earlier this summer.
Tickers: $SPCX
Topics: regulatory approval SpaceX Starship rocket stock price movement