Top 4 Earnings Reports This Week: What Tesla, Meta, SpaceX, Netflix Must Show

Shareholders in Meta, Tesla, Netflix, and SpaceX get quarterly results Tuesday and Wednesday, after the US market closes. Nasdaq values the first three at about $3.6 trillion combined. Forecasts, not beats, have moved these stocks lately. In July, Netflix topped profit estimates by a cent, then fell about 9% after hours on a weaker outlook. How Much AI Spending Must Tesla, Meta, and SpaceX Earnings Justify? Meta plans $130 billion to $145 billion of equipment and data center spending in 2026, according to its results. In the second quarter, $31.1 billion of spending left Meta just $784 million in free cash flow, the cash left after investment. Its shares fell over 7% after hours as profit also missed forecasts. Meta also expects a roughly $10 billion legal charge this quarter. It stems from a settlement worth up to $18 billion over claims its apps harmed children. SpaceX spent $18.4 billion in the second quarter, $15.8 billion of it on AI, and lost $541 million, its filing shows. Still, Chief Financial Officer Bret Johnsen said the AI unit turned a $1.1 billion profit on an adjusted basis. Much of that money flows to chipmaker Nvidia. SpaceX is now reportedly seeking $40 billion in debt to buy its chips. Tesla already beat delivery forecasts, handing over 486,532 cars. However, in July it earned $0.33 per share against a $0.55 estimate as margins slipped. What Would Prove the AI Spending Is Paying Off? For Meta, the test is whether its $130 billion to $145 billion spending range rises. For SpaceX, it is progress toward a target Elon Musk set in August. ARR, or annual recurring revenue, measures a yearly sales pace. we are expecting to reach a $100 billion-plus ARR in December of this year, Elon Musk stated. For Tesla, it is whether margins recover. Analysts tracked by Nasdaq expect $0.21 per share, down from $0.37 a year ago. Netflixs test is different. It forecast $12.86 billion in revenue and about $3 billion in 2026 ad sales, its shareholder letter shows. Last week, strong bank earnings failed to lift bank shares, a gap Jim Cramer flagged. This week, the AI spenders face the same test.