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AT&T Shares Drop 6.6% on Musk’s Starlink Plan

By Drooid · Oct 21, 2026, 8:01 PM UTC · How we work

Summary

Story summary

AT&T shares fell up to 6.6% after SpaceX CEO Elon Musk reiterated Starlink mobile plans.
AT&T posted Q3 revenue of $32.3 billion, up 5.3% YoY and beating the $31.7 billion estimate.
AT&T added over one million internet and mobile subscribers in Q3, its biggest quarterly gain in four years.
SpaceX secured low-band spectrum and Federal Communications Commission (FCC) approval for 15,000 satellites, targeting a fourth major U.S. mobile carrier.

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Story summary

AT&T shares fell up to 6.6% after SpaceX CEO Elon Musk reiterated Starlink mobile plans.
AT&T posted Q3 revenue of $32.3 billion, up 5.3% YoY and beating the $31.7 billion estimate.
AT&T added over one million internet and mobile subscribers in Q3, its biggest quarterly gain in four years.
SpaceX secured low-band spectrum and Federal Communications Commission (FCC) approval for 15,000 satellites, targeting a fourth major U.S. mobile carrier.