NEW DELHI — Elon Musk’s SpaceX is scheduled to report third-quarter financial results Tuesday as investors assess the company’s growth prospects following a nearly 35% decline in its stock price from a record high reached after its June market debut.
The earnings announcement will mark SpaceX’s second quarterly report since becoming a publicly traded company and comes amid volatility in its shares.
Investors are expected to focus on the performance of Starlink, SpaceX’s satellite internet business, along with the company’s growing investments in artificial intelligence and other emerging technologies.
SpaceX shares have fallen approximately 35% from their post-listing peak, reflecting a sharp reversal from the gains recorded shortly after the company’s initial public offering.
The stock closed the previous trading session at $147.96 on the Nasdaq, although it has declined more than 5% over the past week and approximately 3% over the past month.
The upcoming results are expected to provide further insight into demand for Starlink services, which remain a major component of SpaceX’s business.
Investors will also examine the company’s spending plans, particularly investments in AI-related ventures and new technologies that could influence future profitability.
SpaceX is scheduled to release its results for the quarter ended September after U.S. financial markets close Tuesday.
The announcement comes during an important week for Musk’s businesses, with electric vehicle manufacturer Tesla scheduled to report its quarterly earnings Wednesday.
Meanwhile, Musk recently announced plans to distribute SpaceX shares to children across the United States next year.
In a post on social media platform X, Musk said he intends to give one share of the company to every child in America.
“Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many,” Musk wrote.
The announcement comes as SpaceX adjusts to life as a publicly traded company following its June listing.
According to a U.S. securities filing, Musk held a 48.4% ownership stake in SpaceX as of June 30, representing approximately 6.42 billion shares.
His holdings included 849.5 million Class A shares and 3.92 billion Class B shares held through trusts for which he serves as trustee.
Musk also directly owned approximately 1.30 billion restricted Class B shares and held stock options covering an additional 350 million Class B shares.
The quarterly earnings report will provide investors with another opportunity to evaluate SpaceX’s financial performance, Starlink growth and spending priorities as the company pursues expansion beyond its traditional space launch and satellite communications operations. (Source: IANS)
