Shares fell about 5% after the streaming giant reported a record quarterly profit and operating margin but cut its 2026 advertising forecast and projected slower revenue growth, deepening investor concerns about viewership and competition.
SpaceX reported its first quarterly profit as a public company, with net income of $4.4 billion, more than double analyst estimates, sending shares up nearly 8% and boosting technology stocks across major indices.
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Tesla reported Q3 adjusted earnings per share of $0.48, topping the $0.44 consensus, and free cash flow of $1.53 billion — a roughly $6.5 billion swing from expectations of a $5 billion burn. The beat was partly driven by lower-than-anticipated capital spending, while operating margins remained thin as spending on AI and robotics surged.
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The streaming giant posted its most profitable quarter yet, but a weaker-than-expected advertising outlook and signs of engagement fatigue sent shares tumbling and erased billions in market value.
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