Earnings live: Amazon stock slides, with results from Palantir, McDonald's, Disney, and Uber up ahead
In This Article:
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, Big Tech companies, including Microsoft (MSFT), Apple (AAPL), Meta (META), and Amazon (AMZN), highlighted earnings, while investors also heard from other corporations, including Ford (F) and Procter & Gamble (PG).
Up next, companies including AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and Palantir (PLTR) report results in the week ahead.
Data from FactSet published Friday showed that with 66% of the index having reported results, analysts expect S&P 500 companies to report a 10.3% 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.
LIVE 159 updates- Grace O'Donnell
A look at earnings two-thirds of the way through Q2 reporting season
The major stock indexes recorded weekly losses on Friday after a full schedule of earnings, new tariff policy for US trading partners, Federal Reserve interest rate decision, and a weaker-than-expected July jobs report.
Data from FactSet published Friday showed that we are two-thirds of the way through the second quarter reporting period, with 66% of S&P 500 companies having reported results so far. As of Aug. 1, S&P 500 firms are tracking for 10.3% earnings growth for Q2.
If that rate holds, it will mark the third straight quarter of double-digit earnings growth for the index.
Investors are still waiting to hear from the remaining third of companies, however. On deck next week are results from AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and more.
Here's a look at the earnings calendar for the next five business days:
Monday: BioNTech (BNTX), Hims & Hers (HIMS), Palantir (PLTR)
Tuesday: AMD (AMD), Amgen (AMGN), BP (BP), Caterpillar (CAT), Duke Energy (DUK), DuPont (DD), Lemonade (LMND), Marathon Petroleum (MPC), Marriott (MAR), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Snap (SNAP), Super Micro Computer (SMCI), Toast (TOST)
Wednesday: Airbnb (ABNB), Disney (DIS), DraftKings (DKNG), Dutch Bros (BROS), e.l.f. (ELF), Joby Aviation (JOBY), Lyft (LYFT), McDonald's (MCD), Novavax (NVAX), Occidental Petroleum (OXY), Shopify (SHOP), Sunrun (RUN), Uber (UBER), Zillow Group (Z)
Thursday: Atlassian (TEAM), Block (XYZ), Celsius Holdings (CELH), Crocs (CROX), Eli Lilly (LLY), Hertz (HTZ), Instacart (CART), Intuitive Machines (LUNR), Papa John's (PZZA), Peloton (PTON), Pinterest (PINS), Rocket Lab (RKLB), Texas Roadhouse (TXRH), Sweetgreen (SG), Warner Bros. Discovery (WBD), Wynn (WYNN), Yeti (YETI)
- Grace O'Donnell
Big Tech quarterly results show greater willingness to spend on AI
Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence.
As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years.
Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree:
- Grace O'Donnell
Colgate-Palmolive beats quarterly estimates on steady demand for essentials
Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said.
Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion.
Reuters reports:
- Jenny McCall
Regeneron beats second-quarter results estimates on Dupixent sales boost
Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent.
Reuters reports:
- Grace O'Donnell
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:
- Jenny McCall
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:
- Jenny McCall
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:
- Brian Sozzi
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.
- Brian Sozzi
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."
- Grace O'Donnell
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:
- Grace O'Donnell
First Solar raises annual sales outlook, expects higher prices due to tariffs
Reuters reports:
- Grace O'Donnell
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."
Myles UdlandApple 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.
- Grace O'Donnell
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:
- Myles Udland
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.
- Grace O'Donnell
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:
- Grace O'Donnell
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.
- Grace O'Donnell
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:
- Grace O'Donnell
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:
- Grace O'Donnell
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:
- Brooke DiPalma
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.
- Laura Bratton
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.
- Grace O'Donnell
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.
- Grace O'Donnell
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.
- Grace O'Donnell
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.”
- Grace O'Donnell
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.
- Grace O'Donnell
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:
- Grace O'Donnell
CVS beats Wall Street estimates in Q2, marking turnaround for pressured stock
Yahoo Finance's Anjalee Khemlani reports:
- Jenny McCall
'Epic' boost drives Comcast's quarterly results
Reuters reports:
- Karen Friar
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:
- Jenny McCall
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
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:
- Brian Sozzi
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.
- Brian Sozzi
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:
- Brian Sozzi
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!
- Brian Sozzi
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.
- Grace O'Donnell
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.
- Grace O'Donnell
MGM Resorts quarterly revenue rises on sports betting strength
Reuters reports:
- Grace O'Donnell
Qualcomm posts revenue and earnings beat on strong auto, IoT revenue
Qualcomm (QCOM) stock slipped 4% after hours despite the chip designer posting a revenue and earnings beat for its fiscal third quarter.
The company reported revenue of $10.37 billion, compared to estimates for $10.33 billion. Earnings per share were $2.77, higher than the $2.72 expected.
Qualcomm forecast revenue of $10.3 billion to $11.1 billion for the fourth quarter, in line with estimates for the midpoint of that range.
"Another quarter of strong growth in QCT Automotive and IoT revenues further validates our diversification strategy and confidence in achieving our long-term revenue targets,” CEO Cristiano Amon said in the release. “Our leadership in AI processing, high-performance and low-power computing and advanced connectivity positions us to become the industry platform of choice as AI gains scale at the edge.”
- Grace O'Donnell
Ford reports Q2 earnings beat but takes $800M tariff hit
Ford (F) posted an earnings and revenue beat for the second quarter and reinstated full-year guidance. However, the automaker upped its full-year tariff exposure after seeing $800 million in tariff costs in Q2 alone.
Yahoo Finance's Pras Subramanian reports:
- Grace O'Donnell
Robinhood Q2 results likely boosted by strong trading activity
Robinhood (HOOD) reported strong results as market volatility and the return of meme stocks fueled investor activity on the platform.
Options contracts traded on Robinhood increased 32% year over year to a record 515 million, the company said. The company also appeared to benefit from new product launches, including tokenized stocks.
For the quarter, Robinhood's net revenue was $989 million, versus the Street's estimate of $921.5 million, per Bloomberg consensus data. Earnings per share came in at $0.42, higher than the $0.34 per share estimated.
Robinhood stock oscillated after hours as investors digested the results. Shares have been on a tear this year — up 185% year to date — largely driven by crypto and AI hype.
- Grace O'Donnell
Meta beats Q2 expectations, stock jumps on better than anticipated Q3 outlook
Facebook parent Meta (META) outperformed expectations in the June quarter and offered a better-than-expected outlook for Q3 as investors search for clarity on the company's superintelligence and AI strategy.
Revenue of $47.5 billion surpassed analyst expectations for $44.83 billion, according to Bloomberg consensus estimates. During the same period last year, Meta brought in revenue of $39.07 billion.
For the quarter, the company saw earnings per share of $7.14, compared to estimates of $5.89 and EPS of $5.16 for the same quarter a year ago.
Advertising revenue was $46.5 billion, compared to an expected $44.07 billion. The company's Reality Labs segment lost $4.5 billion, compared to expectations of a $4.8 billion loss.
For the third quarter, Meta forecast revenue of $47.5 billion to $50 billion, higher than the Street's estimate of $46.5 billion.
Meta stock surged 10% after hours.
Meta's results come as the company has supercharged its artificial hiring and spending spree. On Friday, CEO Mark Zuckerberg named former OpenAI (OPAI.PVT) researcher Shengjia Zhao as chief scientist of Meta's Superintelligence Lab.
- Grace O'Donnell
Microsoft posts Q4 beats on top and bottom lines on cloud, AI strength
Microsoft (MSFT) stock climbed 6% after hours after the tech giant posted strong earnings and cloud strength.
Here's what Microsoft reported compared to consensus estimates compiled by Bloomberg:
Yahoo Finance's Dan Howley reports that Intelligent Cloud segment revenue, which includes Microsoft’s Azure business, topped out at $29.8 billion. Analysts were looking for $29.09 billion.
- Grace O'Donnell
Earnings are driving the Big Tech rally
Yahoo Finance's Josh Schafer writes:
- Grace O'Donnell
GE HealthCare results beat estimates, company sees diminished tariff impact
GE HealthCare Technologies (GEHC) said on Wednesday that tariffs have a lower impact than it previously expected, which helped the company boost its full-year forecast.
Per Reuters, the company expects adjusted profit of $4.43 to $4.63 per share for 2025, compared with its previous range of $3.90 to $4.10 per share.
The forecast includes a $0.45 per share hit from tariffs, which is lower than the $0.85 per share, or $500 million, impact it guided to in April.
Revenue and earnings also beat expectations. Earnings were $1.06 per share, including a $0.06 hit from tariffs, and revenue of $5.01 billion.
Here's a detailed look at revenue growth across GE HealthCare's segments:
- Grace O'Donnell
Garmin stock rises after the company raised its full-year outlook
Reuters reports:
- Grace O'Donnell
Etsy beats quarterly revenue estimates on strong demand
Etsy (ETSY) stock gained 6% in premarket trading after the company's quarterly results showed it was largely able to withstand a slowdown in consumer spending.
Reuters reports:
- Grace O'Donnell
Hershey lowers earnings guidance
Hershey (HSY) lowered its full-year earnings guidance on Wednesday, reflecting the effects of tariffs for the rest of the year.
The chocolate maker expects its adjusted earnings per share to fall 36% to 38% this year, compared to its prior forecast of earnings declining in the mid-30% range.
Hershey also said that its tariff expenses for the full year will be approximately $170 million to $180 million.
The company's top- and bottom-line results beat Wall Street estimates, according to S&P Global Market Intelligence:
Hershey's earnings call begins at 8:15 a.m. ET. You can listen to it here.
- Jenny McCall
Harley-Davidson posts lower second-quarter profit as tariffs weigh
Harley-Davidson (HOG) stock rose 8% premarket on Wednesday, despite reporting lower second-quarter profit and not providing an annual forecast. The motorcycle company did announce a new partnership with KKR (KKR) and Pimco (PDI).
Reuters reports:
- Jenny McCall
Kraft Heinz beats quarterly revenue estimates on steady US demand
Read the latest financial and business news from Yahoo Finance