Earnings live: Exxon, Chevron oil output boosts profits, Moderna stock tumbles
Yahoo3 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 July 25 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.
Moderna beats Q2 estimates, announces cost cuts and layoffs
Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion.
The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data.
Reuters reports:
Read more here.
Chevron beats Wall Street profit estimates with record production
Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.
Chevron shares were flat in premarket trading.
Reuters reports:
Read more here.
Exxon beats profit estimates with higher production despite weak oil prices
Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices.
Reuters reports:
Read more here.
Amazon tosses a bone to the Fed chair
Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript.
Interesting call out by Amazon CEO Andy Jassy:
I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless.
How to think about Apple's quarter...
We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly.
The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL).
Overall, I like how the Evercore ISI summed things up this evening:
"Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal."
Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter
Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit:
Listen to the earnings call live here.
First Solar raises annual sales outlook, expects higher prices due to tariffs
Reuters reports:
Read more here.
Strategy results show company buoyed by bitcoin in Q2
Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD).
For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million.
For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80.
As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%.
"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."
Apple reports earnings, revenue ahead of forecasts
Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments.
Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion.
Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter.
Apple stock was up about 2% following the results.
Roku reports surprise profit in Q2, revenue beats expectations
Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday.
The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG.
Reuters reports:
Read more here.
Coinbase stock falls 7% after results disappoint
Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts.
Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago.
In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million.
Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year.
Reddit stock soars as company posts fastest quarterly revenue growth in 3 years
Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years.
Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected.
Yahoo Finance's Laura Bratton reports:
Read more here.
Amazon posts earnings beat but stock slips
Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported:
AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year.
The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025.
Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs.
The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours.
Read more here.
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.
Moderna beats Q2 estimates, announces cost cuts and layoffs
Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion.
The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data.
Reuters reports:
Read more here.
Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion.
The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data.
Reuters reports:
Read more here.
Chevron beats Wall Street profit estimates with record production
Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.
Chevron shares were flat in premarket trading.
Reuters reports:
Read more here.
Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.
Chevron shares were flat in premarket trading.
Reuters reports:
Read more here.
Exxon beats profit estimates with higher production despite weak oil prices
Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices.
Reuters reports:
Read more here.
Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices.
Reuters reports:
Read more here.
Amazon tosses a bone to the Fed chair
Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript.
Interesting call out by Amazon CEO Andy Jassy:
I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless.
Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript.
Interesting call out by Amazon CEO Andy Jassy:
I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless.
How to think about Apple's quarter...
We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly.
The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL).
Overall, I like how the Evercore ISI summed things up this evening:
"Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal."
We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly.
The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL).
Overall, I like how the Evercore ISI summed things up this evening:
"Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal."
Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter
Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit:
Listen to the earnings call live here.
Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit:
Listen to the earnings call live here.
First Solar raises annual sales outlook, expects higher prices due to tariffs
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Strategy results show company buoyed by bitcoin in Q2
Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD).
For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million.
For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80.
As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%.
"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."
Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD).
For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million.
For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80.
As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%.
"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."
Apple reports earnings, revenue ahead of forecasts
Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments.
Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion.
Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter.
Apple stock was up about 2% following the results.
Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments.
Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion.
Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter.
Apple stock was up about 2% following the results.
Roku reports surprise profit in Q2, revenue beats expectations
Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday.
The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG.
Reuters reports:
Read more here.
Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday.
The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG.
Reuters reports:
Read more here.
Coinbase stock falls 7% after results disappoint
Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts.
Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago.
In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million.
Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year.
Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts.
Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago.
In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million.
Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year.
Reddit stock soars as company posts fastest quarterly revenue growth in 3 years
Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years.
Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected.
Yahoo Finance's Laura Bratton reports:
Read more here.
Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years.
Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected.
Yahoo Finance's Laura Bratton reports:
Read more here.
Amazon posts earnings beat but stock slips
Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported:
AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year.
The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025.
Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs.
The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours.
Read more here.
Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported:
AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year.
The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025.
Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs.
The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours.
Read more here.
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.
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 July 25 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.
Moderna beats Q2 estimates, announces cost cuts and layoffs
Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion.
The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data.
Reuters reports:
Read more here.
Chevron beats Wall Street profit estimates with record production
Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.
Chevron shares were flat in premarket trading.
Reuters reports:
Read more here.
Exxon beats profit estimates with higher production despite weak oil prices
Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices.
Reuters reports:
Read more here.
Amazon tosses a bone to the Fed chair
Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript.
Interesting call out by Amazon CEO Andy Jassy:
I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless.
How to think about Apple's quarter...
We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly.
The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL).
Overall, I like how the Evercore ISI summed things up this evening:
"Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal."
Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter
Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit:
Listen to the earnings call live here.
First Solar raises annual sales outlook, expects higher prices due to tariffs
Reuters reports:
Read more here.
Strategy results show company buoyed by bitcoin in Q2
Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD).
For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million.
For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80.
As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%.
"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."
Apple reports earnings, revenue ahead of forecasts
Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments.
Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion.
Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter.
Apple stock was up about 2% following the results.
Roku reports surprise profit in Q2, revenue beats expectations
Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday.
The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG.
Reuters reports:
Read more here.
Coinbase stock falls 7% after results disappoint
Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts.
Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago.
In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million.
Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year.
Reddit stock soars as company posts fastest quarterly revenue growth in 3 years
Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years.
Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected.
Yahoo Finance's Laura Bratton reports:
Read more here.
Amazon posts earnings beat but stock slips
Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported:
AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year.
The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025.
Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs.
The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours.
Read more here.
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.
Moderna beats Q2 estimates, announces cost cuts and layoffs
Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion.
The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data.
Reuters reports:
Read more here.
Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion.
The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data.
Reuters reports:
Read more here.
Chevron beats Wall Street profit estimates with record production
Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.
Chevron shares were flat in premarket trading.
Reuters reports:
Read more here.
Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.
Chevron shares were flat in premarket trading.
Reuters reports:
Read more here.
Exxon beats profit estimates with higher production despite weak oil prices
Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices.
Reuters reports:
Read more here.
Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices.
Reuters reports:
Read more here.
Amazon tosses a bone to the Fed chair
Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript.
Interesting call out by Amazon CEO Andy Jassy:
I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless.
Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript.
Interesting call out by Amazon CEO Andy Jassy:
I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless.
How to think about Apple's quarter...
We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly.
The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL).
Overall, I like how the Evercore ISI summed things up this evening:
"Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal."
We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly.
The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL).
Overall, I like how the Evercore ISI summed things up this evening:
"Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal."
Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter
Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit:
Listen to the earnings call live here.
Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit:
Listen to the earnings call live here.
First Solar raises annual sales outlook, expects higher prices due to tariffs
Reuters reports:
Read more here.
Reuters reports:
Read more here.
Strategy results show company buoyed by bitcoin in Q2
Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD).
For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million.
For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80.
As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%.
"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."
Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD).
For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million.
For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80.
As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%.
"Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60."
Apple reports earnings, revenue ahead of forecasts
Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments.
Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion.
Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter.
Apple stock was up about 2% following the results.
Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments.
Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion.
Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter.
Apple stock was up about 2% following the results.
Roku reports surprise profit in Q2, revenue beats expectations
Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday.
The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG.
Reuters reports:
Read more here.
Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday.
The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG.
Reuters reports:
Read more here.
Coinbase stock falls 7% after results disappoint
Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts.
Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago.
In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million.
Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year.
Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts.
Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago.
In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million.
Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year.
Reddit stock soars as company posts fastest quarterly revenue growth in 3 years
Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years.
Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected.
Yahoo Finance's Laura Bratton reports:
Read more here.
Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years.
Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected.
Yahoo Finance's Laura Bratton reports:
Read more here.
Amazon posts earnings beat but stock slips
Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported:
AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year.
The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025.
Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs.
The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours.
Read more here.
Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported:
AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year.
The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025.
Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs.
The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours.
Read more here.
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.
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