The third quarter earnings season is in full swing, with several AI players reporting results this week, including Palantir (PLTR), AMD (AMD), and Supermicro (SMCI).
So far, the earnings season is off to a positive start. As of Oct. 31, 64% of S&P 500 companies have reported results, according to FactSet data, and analysts are expecting a 10.7% jump in earnings per share during the third quarter. If that figure holds, it would mark the fourth straight quarter of double-digit earnings growth but a deceleration from the 12% earnings growth reported in Q2 of this year.
Expectations were slightly lower coming into the quarter, as analysts expected S&P 500 companies to report a 7.9% jump in earnings per share during the third quarter.
Source: FactSet
This week, AI beneficiaries such as Palantir, AMD, Supermicro, Constellation Energy (CEG), Qualcomm (QCOM), and Arm Holdings (ARM) will provide quarterly updates.
Other notable results will come from Shopify (SHOP), Uber (UBER), Pfizer (PFE), Spotify (SPOT), Marriott International (MAR), Toyota (TM), Novo Nordisk (NVO), McDonald’s (MCD), AppLovin (APP), Robinhood (HOOD), DoorDash (DASH), Snap (SNAP), AstraZeneca (AZN), ConocoPhillips (COP), Airbnb (ABNB), Warner Bros. Discovery (WBD), Block (XYZ), Duke Energy (DUK), and Wendy’s (WEN).
Here are the latest updates from corporate America.
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Pinterest (PINS) stock was hammered in after-hours trading after the social media service issued a weaker-than-expected fourth quarter revenue forecast and missed earnings expectations.
The stock fell 16% in the immediate aftermath of the report. Year to date, shares are up 13%.
Pinterest expects quarterly revenue between $1.31 billion and $1.34 billion, while the average analyst estimate was for $1.34 billion, according to data compiled by LSEG. Competition for ad revenue during the holiday shopping season has intensified as players like Meta (META) and Alphabet (GOOG) vie for marketing dollars.
The company reported adjusted earnings per share of $0.38, below Wall Street’s estimates for $0.42 per share, according to S&P Global Market Intelligence. Revenue was in line with estimates. The company reported $1.05 billion for the third quarter, an increase of 17% year over year.
Global monthly active users increased 12% annually to a record 600 million.
Toast (TOST) shares gained 6% in extended trading after the cloud-based restaurant platform substantially raised its full-year adjusted EBITDA guidance.
Toast now sees adjusted EBITDA in the range of $610 million to $620 million, up from the $565 million to $585 million range previously forecast.
In the third quarter, Toast missed profit estimates, reporting earnings per share of $0.16, which was below consensus estimates of $0.23 per share.
Its annualized recurring run-rate (“ARR”), a key operational measure for subscription revenue, grew 30%, crossing $2 billion. Toast also added about 7,500 net new locations in Q3.
Match Group (MTCH)missed analysts’ fourth-quarter revenue estimates, shining a light on how dating apps are struggling to keep up with lowering demand in younger users.
CAVA (CAVA) posted mixed quarterly results Tuesday after market close.
The Mediterranean fast-casual chain posted revenue of $292.2 million, only a tick higher than the $291.5 million the Street expected, per Bloomberg data. Adjusted earnings clocked in at $0.12, $0.01 lower than the $0.13 projected.
Same-store sales came in lower, up 1.9% in the third quarter, compared to the expected 2.67% increase. Higher menu prices and product mix, such as steak and chicken shawarma, offset flat guest traffic.
In the release, co-founder and CEO Brett Schulman said the company “delivered another quarter of market share growth, while we continued to reinforce our value proposition.”
Schulman said the chain proved that the “underlying strength” of the model is “evident” as it lapsed “strong prior-year results” and was navigating “macroeconomic headwinds in the quarter
The stock is down around 5% after the market close, adding to a steep decline of roughly 50% so far this year.
Cava also cut its fiscal year guidance yet again.
It now expects same-store sales to increase between 3% to 4%, down from the previous range of 4% to 6%. Adjusted EBITDA is expected to be less as well in the range of $148 million to $152 million, compared to the previously expected range of $152 million to $159 million.
Supermicro (SMCI) saw its stock drop after missing estimates on both earnings and revenue for its first fiscal quarter.
Rivian (RIVN) stock rose modestly in the initial reaction to its third quarter report as the EV maker reported a smaller loss than expected and said its upcoming R2 midsize crossover is on track for release in the first half of 2026.
Corporate earnings are even more important in the absence of key data amid the government shutdown — and that’s something to keep in mind as results from chipmaker AMD (AMD) and Supermicro (SMCI) are due out after the bell.
Apollo Global Management (APO) CEO Marc Rowan told investors on the company’s earnings call Tuesday that he doesn’t see systemic risk building in the private credit market. (Disclosure: Yahoo Finance is owned by Apollo Global Management.)
“I don’t think we’re talking about systemic risk. I think we’re talking about late-cycle behavior, and bad actors, I believe, are going to get called out,” Rowan said.
Rowan’s comments follow the bankruptcies of auto parts supplier First Brands and subprime auto lender Tricolor Holdings, which led to a warning by JPMorgan CEO Jamie Dimon that spooked the market.
“When you see one cockroach, there’s probably more,” Dimon said on Oct. 14. “Everyone should be forewarned on this one.”
Apollo’s earnings per share of $2.17 beat analyst estimates for the third quarter. The firm’s total assets under management surged to $908 billion, as of Sept. 30, putting the asset manager closer to the $1 trillion AUM milestone.
Apollo Global Management CEO and co-founder Marc Rowan speaks at the Milken Institute Global Conference in Beverly Hills, Calif., on May 5, 2025. (Patrick T. Fallon / AFP via Getty Images) · PATRICK T. FALLON via Getty Images
Shares of car rental company Hertz (HTZ) soared on Tuesday, rising 42% in late morning trading after the company reported a profitable third quarter.
Hertz posted earnings per share of $0.42, above Wall Street analyst expectations for profits of just $0.03. In the same quarter a year ago, Hertz logged a loss per share of $4.34. Revenue hit $2.5 billion, above estimates of $2.4 billion, according to S&P Global Market Intelligence.
The company completed a fleet refresh, swapping in new cars for its older models. With the younger fleet, Hertz had a utilization rate of 84%, its highest in seven years.
For Q4, Hertz expects a slightly negative EBITDA margin range of negative low to mid-single digits.
“We are cautiously optimistic for a stable setup for next year,” Hertz CFO Scott Haralson said in the company’s earnings call.
In recent years, the beer industry has faced a gradual sales slowdown as consumer preferences change. But Molson Coors’ (TAP) new CEO Rahul Goyal said there’s “added pressure” this year.
“This year, I would say that’s [there’s] been definitely added pressure,” Goyal told investors on the company’s earnings call. “And you see that across staples, and beer hasn’t been immune to that.”
Goyal cited the impact of tariffs on consumer sentiment and the immigration crackdown focused on the Hispanic community as factors affecting beer sales this year. In September, Constellation Brands (STZ) CEO Bill Newlands issued a similar warning.
“So there’s something different this year,” Molson Coors’ Goyal said. “Right now, there’s the structural issues that we’ve all talked about in the industry, whether it’s health and wellness, whether it’s the generational change. But this year, there’s been a lot of other macro issues, whether it’s the economic impacts, tariffs, immigration.”
Molson Coors stock rose over 1% on Tuesday despite missing earnings estimates. The company reported earnings per share of $1.67, below the consensus estimate for $1.70 per share. In the same period last year, Molson Coors recorded earnings per share of $1.80.
While the beer maker left its full-year sales guidance untouched, it expects net sales to come in at the low end of the range, which projects sales to decline 3% to 4%. It’s currently undergoing a corporate restructuring, which includes cuts to 9% of its US workforce.
Marriott (MAR) beat third quarter estimates on the top and bottom lines on Tuesday, but the stock bounced around the flat line after a key metric — revenue per available room, or RevPAR — only increased modestly.
Overall revenue of $6.48 billion topped estimates of $6.45 billion, according to S&P Global Market Intelligence, while earnings per share of $2.67 surpassed the $2.39 expected.
RevPAR increased 0.5%, reflecting a 2.6% increase internationally and a 0.4% decline in the US and Canada. Luxury continued to outperform in this bifurcated economy, with luxury RevPAR climbing 4%.
Canadian e-commerce company Shopify (SHOP) issued an upbeat forecast for the holiday shopping season, saying it expects revenue to grow by a “mid-to-high-twenties percentage rate” in the fourth quarter compared to a year ago.
But the stock fell 5% in premarket trading as profit declined year over year in the third quarter.
Pfizer (PFE) stock drifted lower in premarket trading after declining COVID revenue weighed on its third quarter results.
The drugmaker said that lower COVID infection rates hampered demand for its antiviral drug Paxlovid, and fewer people got the COVID vaccine.
Paxlovid revenue fell 55% year over year, the company said, partially due to tough comps from a government stockpile purchase last year. Comirnaty (the COVID vaccine) revenue was down 20% operationally due to a narrower recommendation for vaccination in the US as well as delayed approval of the new variant vaccine.
Pfizer reported earnings per share of $0.87, while the Street was looking for $0.64, according to S&P Global Market Intelligence. Revenue declined 7% year over year to $16.7 billion but still beat estimates of $16.5 billion.
The company reaffirmed its full-year revenue guidance ($61 billion to $64 billion) and raised its full-year adjusted earnings per share guidance to a range of $3.00 to $3.15 from $2.90 to $3.10.
Uber (UBER) reported strong third quarter earnings on Tuesday before the bell, but failed to impress investors — who probably wanted more, sending the stock down 4% in premarket trading.
Yahoo Finance’s senior reporter Pras Subramanian delves into the latest results from the ride-hailing company.
Spotify (SPOT) stock rose 3% before the bell on Tuesday after the audio giant reported better-than-expected third quarter results, beating analyst estimates on revenue and margin, alongside user growth.
Yahoo Finance’s senior reporter Allie Canal reports on the latest earnings report from Spotify.
ADM (ADM) stock slumped 9% before the bell on Tuesday after it cutting its full-year 2025 profit outlook after weaker crush margins and delays in US biofuel policy weighed on results, sending the grain trader’s shares down nearly 9% in premarket trading.
Clorox (CLX) stock rose 3% in extended trading as investors brushed off lower sales and earnings, partially due to a major software overhaul.
The consumer goods company is currently switching its legacy supply chain technology to a new ERP system, which affected its financials in the fiscal first quarter. Ahead of the transformation, Clorox bulked up its inventory at retailers, leading to fewer shipments. For the rest of the year, the company said it expects this inventory drawdown from the ERP change to reduce fiscal year 2026 earnings per share by about $0.90.
For the September quarter, Clorox reported that diluted net earnings per share decreased 19% to $0.65 from $0.80 in the year-ago quarter. The Street was looking for earnings of $0.69 per share.
Clorox also reported double-digit sales declines in most segments, with overall net sales decreasing by 19% year over year.
In its Health and Wellness segment, which includes cleaning products, net sales fell 19%. Sales in the Household segment, net sales also dropped 19%. Sales in the Lifestyle segment (food, water filtration) dropped 23%, and international sales fell 2%.
“As with any rollout of this scale, we experienced some temporary disruptions that affected our market share,” CEO Linda Rendle said. “With the majority of the rollout now behind us, our focus is now squarely on accelerating profitable growth through innovation and strong demand-creation initiatives in the second half of this fiscal year.”
Hims & Hers (HIMS) reported revenue that beat expectations on Monday, but the telehealth company’s earnings fell short of estimates.
For the third quarter, the company reported earnings of $0.06 on revenue of $598.9 million, compared to Wall Street estimates of $0.10 on revenue of $579.8 million, according to S&P Global Market Intelligence. Revenue picked back up after decelerating to $544.8 million in the second quarter.
Hims & Hers also issued a fourth quarter revenue outlook that was a little light. The company expects revenue of $605 million to $625 million, while analysts had guided for $629 million. For the full year, Hims & Hers expects revenue of $2.33 billion to $2.35 billion, slightly lower than the previously guided range of $2.3 billion to $2.4 billion.
The stock jumped 5% in after-hours trading ahead of the earnings call at 5 p.m. ET. You can listen to the call with investors live here.
