SpaceX is coming for large U.S. telecom providers.

During the company's first earnings call, SpaceX President Gwynne Shotwell referenced the revenue that AT&T, Verizon Communications and T-Mobile US pull in, and said Starlink would take aim at their subscribers.

"I anticipate us to be able to acquire quite a few of their customers because I think our service will be better," Shotwell said.

Shares of AT&T, Verizon and T-Mobile fell between 1% and 2% in premarket trading.