SpaceX reports Q2 revenue from connectivity, which includes Starlink, up 66% YoY to $4.29B vs. $3.83B est., Starlink subscribers up 100% to 12M vs. 12.19M est. (Todd Bishop/GeekWire)

SpaceX reported a significant increase in revenue from its connectivity business, which includes Starlink, in the second quarter. The revenue rose 66% year-over-year to $4.29 billion, surpassing estimates of $3.83 billion.

The company's Starlink satellite-internet service also saw substantial growth, with subscribers reaching 12 million, a 100% increase from the previous year. This figure is slightly lower than the estimated 12.19 million subscribers, according to The National UAE.

SpaceX's overall revenue for the quarter was $7.8 billion, exceeding analysts' estimates of $6.8 billion. The company also disclosed that it invested $18.3 billion in AI infrastructure, Starship, and Starlink expansion, and secured over $6 billion in government contracts during the second quarter.

Brief written by urgent.news from Techmeme, The National UAE — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.