Earnings live: Microsoft, Meta stocks surge with more tech earnings from Apple and Reddit on deck

Yahoo

3 days ago

Second quarter earnings season is in full swing, and the results have been largely positive so far, with more positive surprises than negative ones.
Companies had a lower bar to clear coming into the quarter, as analysts tempered their expectations amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy.
This week, investors will be treated to another flurry of quarterly results from Big Tech companies, including Microsoft (MSFT), Apple (AAPL), Meta (META), and Amazon (AMZN). This week's reports also include updates from Spotify (SPOT), Ford (F), Procter & Gamble (PG), Boeing (BA), Starbucks (SBUX), and Qualcomm (QCOM), among others.
Data from FactSet published Friday showed that with 34% of the index having reported results, analysts expect S&P 500 companies to report a 5.6% jump in earnings per share during the second quarter.
Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023.
Here are the latest updates from corporate America.
Microsoft, Meta stocks surge as post-earnings rally adds half a trillion dollars in market value
Microsoft (MSFT) and Meta (META) stocks rallied following strong earnings reports on Wednesday that outweighed concerns about artificial intelligence spending.
Combined, the two stocks have added about half a trillion dollars in market value since Wednesday's close.
Microsoft stock gained 5% at the market open after reporting strength in its cloud and AI businesses. The company joined Nvidia (NVDA) in the $4 trillion market cap club after adding more than $305 billion to its market cap.
Meta stock also surged 12% in early trading after advertising revenue grew 22%, surpassing expectations, and its Reality Labs saw a smaller loss than expected.
'The stock moves make sense — the results are that good,' D.A. Davidson head of technology research Gil Luria told Yahoo Finance following Meta's and Microsoft's earnings. 'Meta is gaining significant share in the digital advertising market, … and therefore investors have patience for the capex guidance they're providing.'
Apple Q3 earnings to give Wall Street better view of tariff impact
Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell:
Read more here.
Reddit set to report Q2 earnings as Wall Street scrutinizes daily active user growth
Reddit (RDDT) will report second quarter results after the bell on Thursday.
One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users.
Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit:
Read more here.
Unilever's personal care business delivers solid results, but ice cream was the standout
Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year.
The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand.
Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company.
Reuters reports:
Read more here.
AB InBev stock sinks as volumes decline, consumers seek value and no-alcohol options
Anheuser-Busch InBev (BUD) stock is under pressure after the company missed Wall Street's estimates for revenue and volume growth, raising concerns about the overall industry.
The stock fell more than 11% on Thursday after overall volumes declined 1.9%, moving in the opposite direction of the 0.05% gain Wall Street projected. Revenue came in at $15 billion, lower than the $15.35 billion metric Wall Street expected.
Weaker volumes in China (down 7.4%) and Brazil (down 6.5%) dragged down the quarterly results.
AB InBev CEO Michel Doukeris told Yahoo Finance that the business is over-indexed in China to bars and restaurants instead of at-home consumption and the eastern region of the country, causing it to "underperform the industry."
Brazil experienced poor weather and a value-seeking consumer, but he said he remains confident in the "industry performance [there] over the long run."
In the US, he said consumers are being "choiceful" as the industry overall experienced softness. Sales to retailers fell 2.1% in the quarter.
Doukeris said its Busch Light brand is growing as consumers, especially the low-income cohort, seek out value options after years of inflationary pressure.
The company is also responding to consumers' focus on health and wellness, with low-calorie brands like Michelob Ultra, and a consumer shift away from alcohol. Doukeris believes the global portfolio is still well-positioned to meet this demand, with brands like Corona Cero and Cass Zero in Korea.
"This idea of low calories, low carbs, low alcohol, no alcohol, gluten free, sugar free are innovations that are addressing an increasing demand for consumers to continue to be social, enjoying their moments, but more in control of their entire consumption," Doukeris said.
Thursday's trading session marks AB InBev's lowest stock price since the COVID-19 pandemic's bear market on March 16, 2020. Molson Coors (TAP) and Constellation Brands (STZ) stock also came under pressure.
CoreWeave soars after Microsoft reports higher than expected capital expenditures
CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META).
Microsoft is CoreWeave's largest customer, accounting for 72% of its revenue in the burgeoning cloud provider's most recent quarterly earnings report. Microsoft in its fourth quarter report (for the three months that ended June 30) spending $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant's spending from the prior year.
Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spend $30 billion, a 50% increase from the prior year.
"We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog," said Microsoft CFO Amy Hood in a post earnings call with analysts.
Kellanova misses quarterly profit estimates amid US consumer spending squeeze
Kellanova (K) missed Wall Street estimates for second quarter profit on Thursday as demand softened for snacks and ready-to-eat breakfast items.
"Demand softness in most of our categories did not improve as much as we had hoped," CEO Steve Cahillane said about the quarter, per Reuters.
Kellanova reported adjusted profit of $0.93 per share in the quarter, missing market expectations of $0.99, according to data compiled by LSEG. The company reported net sales of $3.2 billion, nearly in line with analysts' expectations of $3.19 billion.
Kellanova, which spun off from the Kellogg Company in 2023, is awaiting completion of its takeover by Mars for $36 billion. Mars' acquisition of the company is expected to close at the end of 2025.
Read more here.
Mastercard says consumer remains healthy, beats on earnings
Consumer spending remains fundamentally healthy despite macroeconomic uncertainty, Mastercard (MA) executives said on its second quarter earnings call Thursday.
The total value of transactions that Mastercard processed rose 9% during the quarter, while cross-border volume, which tracks spending on cards outside their country of issue, jumped 15%.
The credit card data echoed that of Visa (V) in pointing to continued consumer appetite for travel and leisure.
Adjusted earnings per share of $4.15 beat Wall Street estimates of $4.03 per share, according to LSEG data. Net revenue rose 17% to $8.1 billion, topping estimates of $7.97 billion.
For the full year, Mastercard expects consumer spending to hold up for the rest of the year and tightened its outlook for net revenue to the high end of its previous guidance — with growth in the low teens.
Read more here from Reuters or listen to the earnings call here.
Roblox raises annual bookings forecast as viral hits spur spending boom
Roblox's (RBLX) daily active users rose 41% in the second quarter to cross 100 million, the company reported on Thursday. Roblox stock soared 19% in premarket trading.
Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion.
Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like "Grow a Garden." Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising.
The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion.
Read more here.
Bristol Myers posts better-than-expected second quarter results on strength of top sellers
Bristol Myers Squibb (BMY) reported strong sales of its bestselling drugs Eliquis and Opdivo, which boosted overall second quarter results.
Revenue rose 1% to $12.3 billion. Analysts were expecting revenue to fall to $11.4 billion due to the loss of some patents. Earnings for the company were $1.46 per share, above the $1.07 per share result expected.
Shares rose about 3% in premarket trading.
Reuters reports:
Read more here.
CVS beats Wall Street estimates in Q2, marking turnaround for pressured stock
Yahoo Finance's Anjalee Khemlani reports:
Read more here.
'Epic' boost drives Comcast's quarterly results
Reuters reports:
Read more here.
Carvana posts higher quarterly profit on record car sales
Online used-car seller Carvana's (CVNA) strong second quarter results and outlook defied Wall Street's expectations, sending its shares up over 15% in premarket trading
Bloomberg reports:
Read more here.
BMW sticks with guidance despite profit drop, Trump's tariffs
German carmaker BMW (BMW.DE) maintained its full-year guidance on Thursday despite President Trump's tariffs. The company's quarterly earnings also dropped by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals.
Reuters reports
Read more here.
AB InBev shares slide on concern over sales volumes
Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares.
Reuters reports:
Read more here.
Profit-taking in Robinhood
The only problem I see in Robinhood's (HOOD) earnings numbers out last night is that the market had them priced in!
Robinhood's stock has been on fire, so I think what we are seeing in the minor premarket pullback is classic profit-taking.
A couple good points on this from Bernstein's Gautam Chhugani this morning:
Check ou y recent chat with Robinhood co-founder & CEO Vlad Tenev for more context. Tenev will also be a featured speaker at our November Invest conference.
Qualcomm on the move lower
Qualcomm's (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket.
The company's earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now.
This note from HSBC's Ryan Mellor this morning captures it all nicely:
This is remarkable on Meta
Meta (META) is rocking premarket to the tune of 12% after a monster quarter.
Got to love the market ignoring this capex stuff in the earnings release below and focusing in on Meta's revenue trends (strong):
"We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations."
Bottom line: bull market... carry on!
Microsoft earnings call: A quick take
A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical tech jargon from CEO Satya Nadella.
Bottom line is this: Azure sales crushed, and there were zero signs of peaking AI demand. That should be good enough for the bulls.
"We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV)," Citi analyst Tyler Radke said.
Arm announces it will develop own chips, forecast fails to impress
Chip architecture provider Arm Holdings (ARM) announced it will invest in making its own chips, marking a major shift to its model of licensing chip blueprints to other companies.
Reuters reports:
Revenue increased 14% during the quarter to $1.05 billion, coming in just shy of Wall Street's estimates. Earnings per share were $0.35, in line with estimates.
Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, disappointing investors hoping for a greater artificial intelligence boost.
Shares fell 8% after the market close on Wednesday.
Rad more here.
Microsoft (MSFT) and Meta (META) stocks rallied following strong earnings reports on Wednesday that outweighed concerns about artificial intelligence spending.
Combined, the two stocks have added about half a trillion dollars in market value since Wednesday's close.
Microsoft stock gained 5% at the market open after reporting strength in its cloud and AI businesses. The company joined Nvidia (NVDA) in the $4 trillion market cap club after adding more than $305 billion to its market cap.
Meta stock also surged 12% in early trading after advertising revenue grew 22%, surpassing expectations, and its Reality Labs saw a smaller loss than expected.
'The stock moves make sense — the results are that good,' D.A. Davidson head of technology research Gil Luria told Yahoo Finance following Meta's and Microsoft's earnings. 'Meta is gaining significant share in the digital advertising market, … and therefore investors have patience for the capex guidance they're providing.'
Apple Q3 earnings to give Wall Street better view of tariff impact
Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell:
Read more here.
Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell:
Read more here.
Reddit set to report Q2 earnings as Wall Street scrutinizes daily active user growth
Reddit (RDDT) will report second quarter results after the bell on Thursday.
One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users.
Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit:
Read more here.
Reddit (RDDT) will report second quarter results after the bell on Thursday.
One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users.
Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit:
Read more here.
Unilever's personal care business delivers solid results, but ice cream was the standout
Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year.
The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand.
Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company.
Reuters reports:
Read more here.
Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year.
The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand.
Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company.
Reuters reports:
Read more here.
AB InBev stock sinks as volumes decline, consumers seek value and no-alcohol options
Anheuser-Busch InBev (BUD) stock is under pressure after the company missed Wall Street's estimates for revenue and volume growth, raising concerns about the overall industry.
The stock fell more than 11% on Thursday after overall volumes declined 1.9%, moving in the opposite direction of the 0.05% gain Wall Street projected. Revenue came in at $15 billion, lower than the $15.35 billion metric Wall Street expected.
Weaker volumes in China (down 7.4%) and Brazil (down 6.5%) dragged down the quarterly results.
AB InBev CEO Michel Doukeris told Yahoo Finance that the business is over-indexed in China to bars and restaurants instead of at-home consumption and the eastern region of the country, causing it to "underperform the industry."
Brazil experienced poor weather and a value-seeking consumer, but he said he remains confident in the "industry performance [there] over the long run."
In the US, he said consumers are being "choiceful" as the industry overall experienced softness. Sales to retailers fell 2.1% in the quarter.
Doukeris said its Busch Light brand is growing as consumers, especially the low-income cohort, seek out value options after years of inflationary pressure.
The company is also responding to consumers' focus on health and wellness, with low-calorie brands like Michelob Ultra, and a consumer shift away from alcohol. Doukeris believes the global portfolio is still well-positioned to meet this demand, with brands like Corona Cero and Cass Zero in Korea.
"This idea of low calories, low carbs, low alcohol, no alcohol, gluten free, sugar free are innovations that are addressing an increasing demand for consumers to continue to be social, enjoying their moments, but more in control of their entire consumption," Doukeris said.
Thursday's trading session marks AB InBev's lowest stock price since the COVID-19 pandemic's bear market on March 16, 2020. Molson Coors (TAP) and Constellation Brands (STZ) stock also came under pressure.
Anheuser-Busch InBev (BUD) stock is under pressure after the company missed Wall Street's estimates for revenue and volume growth, raising concerns about the overall industry.
The stock fell more than 11% on Thursday after overall volumes declined 1.9%, moving in the opposite direction of the 0.05% gain Wall Street projected. Revenue came in at $15 billion, lower than the $15.35 billion metric Wall Street expected.
Weaker volumes in China (down 7.4%) and Brazil (down 6.5%) dragged down the quarterly results.
AB InBev CEO Michel Doukeris told Yahoo Finance that the business is over-indexed in China to bars and restaurants instead of at-home consumption and the eastern region of the country, causing it to "underperform the industry."
Brazil experienced poor weather and a value-seeking consumer, but he said he remains confident in the "industry performance [there] over the long run."
In the US, he said consumers are being "choiceful" as the industry overall experienced softness. Sales to retailers fell 2.1% in the quarter.
Doukeris said its Busch Light brand is growing as consumers, especially the low-income cohort, seek out value options after years of inflationary pressure.
The company is also responding to consumers' focus on health and wellness, with low-calorie brands like Michelob Ultra, and a consumer shift away from alcohol. Doukeris believes the global portfolio is still well-positioned to meet this demand, with brands like Corona Cero and Cass Zero in Korea.
"This idea of low calories, low carbs, low alcohol, no alcohol, gluten free, sugar free are innovations that are addressing an increasing demand for consumers to continue to be social, enjoying their moments, but more in control of their entire consumption," Doukeris said.
Thursday's trading session marks AB InBev's lowest stock price since the COVID-19 pandemic's bear market on March 16, 2020. Molson Coors (TAP) and Constellation Brands (STZ) stock also came under pressure.
CoreWeave soars after Microsoft reports higher than expected capital expenditures
CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META).
Microsoft is CoreWeave's largest customer, accounting for 72% of its revenue in the burgeoning cloud provider's most recent quarterly earnings report. Microsoft in its fourth quarter report (for the three months that ended June 30) spending $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant's spending from the prior year.
Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spend $30 billion, a 50% increase from the prior year.
"We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog," said Microsoft CFO Amy Hood in a post earnings call with analysts.
CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META).
Microsoft is CoreWeave's largest customer, accounting for 72% of its revenue in the burgeoning cloud provider's most recent quarterly earnings report. Microsoft in its fourth quarter report (for the three months that ended June 30) spending $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant's spending from the prior year.
Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spend $30 billion, a 50% increase from the prior year.
"We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog," said Microsoft CFO Amy Hood in a post earnings call with analysts.
Kellanova misses quarterly profit estimates amid US consumer spending squeeze
Kellanova (K) missed Wall Street estimates for second quarter profit on Thursday as demand softened for snacks and ready-to-eat breakfast items.
"Demand softness in most of our categories did not improve as much as we had hoped," CEO Steve Cahillane said about the quarter, per Reuters.
Kellanova reported adjusted profit of $0.93 per share in the quarter, missing market expectations of $0.99, according to data compiled by LSEG. The company reported net sales of $3.2 billion, nearly in line with analysts' expectations of $3.19 billion.
Kellanova, which spun off from the Kellogg Company in 2023, is awaiting completion of its takeover by Mars for $36 billion. Mars' acquisition of the company is expected to close at the end of 2025.
Read more here.
Kellanova (K) missed Wall Street estimates for second quarter profit on Thursday as demand softened for snacks and ready-to-eat breakfast items.
"Demand softness in most of our categories did not improve as much as we had hoped," CEO Steve Cahillane said about the quarter, per Reuters.
Kellanova reported adjusted profit of $0.93 per share in the quarter, missing market expectations of $0.99, according to data compiled by LSEG. The company reported net sales of $3.2 billion, nearly in line with analysts' expectations of $3.19 billion.
Kellanova, which spun off from the Kellogg Company in 2023, is awaiting completion of its takeover by Mars for $36 billion. Mars' acquisition of the company is expected to close at the end of 2025.
Read more here.
Mastercard says consumer remains healthy, beats on earnings
Consumer spending remains fundamentally healthy despite macroeconomic uncertainty, Mastercard (MA) executives said on its second quarter earnings call Thursday.
The total value of transactions that Mastercard processed rose 9% during the quarter, while cross-border volume, which tracks spending on cards outside their country of issue, jumped 15%.
The credit card data echoed that of Visa (V) in pointing to continued consumer appetite for travel and leisure.
Adjusted earnings per share of $4.15 beat Wall Street estimates of $4.03 per share, according to LSEG data. Net revenue rose 17% to $8.1 billion, topping estimates of $7.97 billion.
For the full year, Mastercard expects consumer spending to hold up for the rest of the year and tightened its outlook for net revenue to the high end of its previous guidance — with growth in the low teens.
Read more here from Reuters or listen to the earnings call here.
Consumer spending remains fundamentally healthy despite macroeconomic uncertainty, Mastercard (MA) executives said on its second quarter earnings call Thursday.
The total value of transactions that Mastercard processed rose 9% during the quarter, while cross-border volume, which tracks spending on cards outside their country of issue, jumped 15%.
The credit card data echoed that of Visa (V) in pointing to continued consumer appetite for travel and leisure.
Adjusted earnings per share of $4.15 beat Wall Street estimates of $4.03 per share, according to LSEG data. Net revenue rose 17% to $8.1 billion, topping estimates of $7.97 billion.
For the full year, Mastercard expects consumer spending to hold up for the rest of the year and tightened its outlook for net revenue to the high end of its previous guidance — with growth in the low teens.
Read more here from Reuters or listen to the earnings call here.
Roblox raises annual bookings forecast as viral hits spur spending boom
Roblox's (RBLX) daily active users rose 41% in the second quarter to cross 100 million, the company reported on Thursday. Roblox stock soared 19% in premarket trading.
Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion.
Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like "Grow a Garden." Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising.
The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion.
Read more here.
Roblox's (RBLX) daily active users rose 41% in the second quarter to cross 100 million, the company reported on Thursday. Roblox stock soared 19% in premarket trading.
Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion.
Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like "Grow a Garden." Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising.
The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion.
Read more here.
Bristol Myers posts better-than-expected second quarter results on strength of top sellers
Bristol Myers Squibb (BMY) reported strong sales of its bestselling drugs Eliquis and Opdivo, which boosted overall second quarter results.
Revenue rose 1% to $12.3 billion. Analysts were expecting revenue to fall to $11.4 billion due to the loss of some patents. Earnings for the company were $1.46 per share, above the $1.07 per share result expected.
Shares rose about 3% in premarket trading.
Reuters reports:
Read more here.
Bristol Myers Squibb (BMY) reported strong sales of its bestselling drugs Eliquis and Opdivo, which boosted overall second quarter results.
Revenue rose 1% to $12.3 billion. Analysts were expecting revenue to fall to $11.4 billion due to the loss of some patents. Earnings for the company were $1.46 per share, above the $1.07 per share result expected.
Shares rose about 3% in premarket trading.
Reuters reports:
Read more here.
CVS beats Wall Street estimates in Q2, marking turnaround for pressured stock
Yahoo Finance's Anjalee Khemlani reports:
Read more here.
Yahoo Finance's Anjalee Khemlani reports:
Read more here.
'Epic' boost drives Comcast's quarterly results
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Carvana posts higher quarterly profit on record car sales
Online used-car seller Carvana's (CVNA) strong second quarter results and outlook defied Wall Street's expectations, sending its shares up over 15% in premarket trading
Bloomberg reports:
Read more here.
Online used-car seller Carvana's (CVNA) strong second quarter results and outlook defied Wall Street's expectations, sending its shares up over 15% in premarket trading
Bloomberg reports:
Read more here.
BMW sticks with guidance despite profit drop, Trump's tariffs
German carmaker BMW (BMW.DE) maintained its full-year guidance on Thursday despite President Trump's tariffs. The company's quarterly earnings also dropped by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals.
Reuters reports
Read more here.
German carmaker BMW (BMW.DE) maintained its full-year guidance on Thursday despite President Trump's tariffs. The company's quarterly earnings also dropped by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals.
Reuters reports
Read more here.
AB InBev shares slide on concern over sales volumes
Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares.
Reuters reports:
Read more here.
Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares.
Reuters reports:
Read more here.
Profit-taking in Robinhood
The only problem I see in Robinhood's (HOOD) earnings numbers out last night is that the market had them priced in!
Robinhood's stock has been on fire, so I think what we are seeing in the minor premarket pullback is classic profit-taking.
A couple good points on this from Bernstein's Gautam Chhugani this morning:
Check ou y recent chat with Robinhood co-founder & CEO Vlad Tenev for more context. Tenev will also be a featured speaker at our November Invest conference.
The only problem I see in Robinhood's (HOOD) earnings numbers out last night is that the market had them priced in!
Robinhood's stock has been on fire, so I think what we are seeing in the minor premarket pullback is classic profit-taking.
A couple good points on this from Bernstein's Gautam Chhugani this morning:
Check ou y recent chat with Robinhood co-founder & CEO Vlad Tenev for more context. Tenev will also be a featured speaker at our November Invest conference.
Qualcomm on the move lower
Qualcomm's (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket.
The company's earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now.
This note from HSBC's Ryan Mellor this morning captures it all nicely:
Qualcomm's (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket.
The company's earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now.
This note from HSBC's Ryan Mellor this morning captures it all nicely:
This is remarkable on Meta
Meta (META) is rocking premarket to the tune of 12% after a monster quarter.
Got to love the market ignoring this capex stuff in the earnings release below and focusing in on Meta's revenue trends (strong):
"We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations."
Bottom line: bull market... carry on!
Meta (META) is rocking premarket to the tune of 12% after a monster quarter.
Got to love the market ignoring this capex stuff in the earnings release below and focusing in on Meta's revenue trends (strong):
"We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations."
Bottom line: bull market... carry on!
Microsoft earnings call: A quick take
A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical tech jargon from CEO Satya Nadella.
Bottom line is this: Azure sales crushed, and there were zero signs of peaking AI demand. That should be good enough for the bulls.
"We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV)," Citi analyst Tyler Radke said.
A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical tech jargon from CEO Satya Nadella.
Bottom line is this: Azure sales crushed, and there were zero signs of peaking AI demand. That should be good enough for the bulls.
"We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV)," Citi analyst Tyler Radke said.
Arm announces it will develop own chips, forecast fails to impress
Chip architecture provider Arm Holdings (ARM) announced it will invest in making its own chips, marking a major shift to its model of licensing chip blueprints to other companies.
Reuters reports:
Revenue increased 14% during the quarter to $1.05 billion, coming in just shy of Wall Street's estimates. Earnings per share were $0.35, in line with estimates.
Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, disappointing investors hoping for a greater artificial intelligence boost.
Shares fell 8% after the market close on Wednesday.
Rad more here.
Chip architecture provider Arm Holdings (ARM) announced it will invest in making its own chips, marking a major shift to its model of licensing chip blueprints to other companies.
Reuters reports:
Revenue increased 14% during the quarter to $1.05 billion, coming in just shy of Wall Street's estimates. Earnings per share were $0.35, in line with estimates.
Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, disappointing investors hoping for a greater artificial intelligence boost.
Shares fell 8% after the market close on Wednesday.
Rad more here.