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(Bloomberg) -- SpaceX’s first earnings report following its blockbuster initial public offering is one of the most anticipated events of the summer on Wall Street. Whether it’ll give investors a reason to buy the sinking stock is another matter.Most Read from BloombergBeer Dynasty Families Sell €731 Million Stake in AB InBevApple’s New CEO Taps Retired Hardware Executive for Management TeamTaco Bell Met With Michigan on Parasite Weeks Before RecallMamdani Dismisses Business Leaders Advising NYC’

Wix stated that it has reduced its revenue expectations by $25 million and expects about a $50 million reduction in bookings for 2026.

The Dow Jones Industrial Average was down, while the Nasdaq Composite and the S&P 500 Index were up

The web development platform reports weaker-than-expected quarterly results as artificial intelligence disrupts the industry.

Wix.com (WIX) delivered earnings and revenue surprises of -44.00% and -0.48%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?