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SpaceX Stock Falls 10.2% as Q3 Earnings Near
Why is SpaceX stock down this week?
SpaceX (SPCX) stock fell 10.2% last week to $146.03 on Friday as investors worried about AI spending and debt before Tuesday's Q3 earnings, which may show its first profit since the IPO.
Key numbers
| Expected Q3 revenue | $12.89B+65% vs Q2 ($7.8B) |
|---|---|
| Expected adjusted EPS | $0.15First profit since June IPO |
| SPCX close (Oct 16) | $146.03-10.2% on week (some outlets say ~9%) |
| Expected Q3 capex | $19.6Bvs $18.4B in Q2 |
| Expected free cash flow | -$11.6BCash burn despite profit |
| Starlink subscribers (est.) | 14.3Mvs 12M in Q2 |
What happened
SpaceX (SPCX) stock fell 10.2% last week to $146.03 on Friday as investors worried about AI spending and debt before Tuesday's Q3 earnings, which may show its first profit since the IPO. Analysts expect sales of $12.89 billion, about 65% more than the $7.8 billion in the second quarter, and an adjusted profit of about 15 cents a share. The worry is spending: analysts expect about $19.6 billion on new equipment this quarter, which would burn roughly $11.6 billion in cash. Ukraine also said limits on SpaceX's military Starshield satellite service were disrupting its drones.
Why it matters
SpaceX is worth about $2 trillion, so its results can sway AI-linked stocks and the wider market. Tuesday's report will show whether its satellite internet (Starlink) and AI businesses can earn a real profit while spending heavily on data centers. A weak report could deepen fears that AI spending is running ahead of the money it brings in.
Who this affects
- MarketmixedMedium impact
- Investors in AI-linked stocks face a volatile, uncertain week.
- CompanymixedMedium impact
- SpaceX holders face an expected 6.8% swing after earnings.
- CompetitorsbearishMedium impact
- Space stocks like Rocket Lab have fallen sharply this week.
- IndustrybearishMedium impact
- AI infrastructure builders face tougher investor questions on spending.
SpaceX vs Rocket Lab, AST SpaceMobile
How we got here
SPCX closes at $171.92, near its October high, before a week-long slide.
SPCX closes at $146.03, down 15.1% from Oct 6, as AI stocks sell off.
SpaceX confirms Q3 results and webcast date.
Q3 results due after the close; webcast at 4:30 p.m. ET.
What to watch
- Whether revenue near $12.89B and a first profit arrive, led by AI and Starlink sales.2026-10-20
- Capital spending near $19.6B and any update on financing; bridge loan matures September 2027.2026-10-20
- Share reaction: options imply roughly a 6.8% move either way.2026-10-21
Educational content only. Not investment advice.
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