Earnings Season, Decoded
Earnings
Previews before the print, breakdowns after it. What Wall Street expects, what actually happened, and what it means if you own the stock.
Earnings date pages:$NVDA$WMT$AMATFull calendar
Earnings Previews
What the market expects before the print
2026-08-19
PDD Earnings Aug 24: Revenue Up, Profit Down Again
PDD Holdings (PDD) reported Q2 2026 on August 24: revenue grew 8% to $16.6 billion, missing estimates, but profit fell just 12% versus Q1's 15% drop, and non-GAAP EPS beat the Street.
2026-08-17
La-Z-Boy (LZB) Earnings Aug 18: Up 25%, Guided Flat
La-Z-Boy missed fiscal Q1 2027 estimates on August 18: revenue fell short of its own guide, adjusted EPS missed by six cents, Q2 guidance came in below consensus, and the stock fell about 16-17%.
2026-08-17
Mercury (MRCY) Earnings Aug 18: Bookings +74%, Cash Out
Mercury Systems beat fiscal Q4 2026 revenue estimates on August 18 with record bookings and a return to positive free cash flow, but margin compression sent the stock down about 10-12% after hours.
2026-08-17
Advance Auto (AAP) Earnings Aug 20: Comps +3.5%, Guide 1%
Advance Auto Parts reports Q2 before the open on August 20. Comps ran 3.5% in Q1 and the full-year guide of 1-2% implies roughly flat comps across the remaining 36 weeks. Options price 14.3%.
2026-08-17
Bill.com (BILL) Earnings Aug 19: 709 Cut, 20% Bought Back
BILL beat its fiscal Q4 guide on August 19 with $0.84 of non-GAAP EPS and 16% core growth, then guided FY27 revenue up 9-12% with operating income up 30-39%. The cost bet is landing.
2026-08-17
Coty (COTY) Earnings Aug 19: More Debt Than Market Cap
Coty printed the two-cent Q4 loss on August 19 and called fiscal 2027 a transition year, guiding only Q1. Net debt of $2.91bn still exceeds the market cap. A new CFO starts September 1.
2026-08-17
Ultragenyx (RARE): DTX401's FDA Decision Lands August 23, Built at the Plant That Failed UX111
Ultragenyx's DTX401 gene therapy for GSDIa gets an FDA verdict August 23, made at the Bedford, MA plant whose findings sank a different Ultragenyx gene therapy last year. RARE trades near $26.
2026-08-15
Nutanix (NTNX) Earnings Aug 26: Revenue Up 12%, Cash Flat
Nutanix reports fiscal Q4 on August 26. The guide asks for 12.5% revenue growth and about the same free cash flow the quarter made a year ago, and the full-year cash target sits $50m below November's.
2026-08-15
Snowflake (SNOW) Earnings Sept 2: $6bn Promised to AWS, 75% Margin Guided
Snowflake reports Q2 FY27 on September 2 with product revenue guided to $1.42bn. The stock closed at $328.92 and the average analyst target sits 8% below it.
2026-08-15
Palo Alto (PANW) Earnings Sept 1: 32% Revenue, 2% EPS
Palo Alto Networks reports fiscal Q4 on September 1. The guide asks for 32% revenue growth and 1-3% earnings growth in the same quarter, and CyberArk's 112 million shares explain the gap.
2026-08-15
TJX and Ross Earnings (Aug 19-20): The Street Is Above Both Guides
TJX beat Q2 on August 19 with comps up 4% and EPS of $1.36 against $1.18, raising the year to $5.31-5.36, past the Street's $5.22. A light Q3 guide sent it down premarket. Ross reports August 20.
2026-08-14
Alibaba (BABA) Earnings Aug 20: Cloud Is 74% of Profit, EBITA Fell 84%
Alibaba reports June-quarter results August 20 before the open. Group adjusted EBITA fell 84% last quarter and cloud is now 74% of what's left, so one segment carries the whole print.
2026-08-14
NetEase (NTES) Q2 Earnings August 20: The Profit Line Isn't About Games
NetEase reports Q2 2026 before the US open on Thursday, August 20. Consensus wants RMB 10.2bn of non-GAAP profit. Nomura models RMB 9.4bn, and puts the gap in two stocks NetEase doesn't operate.
2026-08-13
Target Earnings August 19: The Turnaround Trade Meets a 52-Week High
Target beat Q2 on August 19: comps up 3.8%, $4.11 EPS with $1.65 of tariff refunds inside it, about $2.46 ex-refund, a guide raised past $8.50, and a 4.28% close at a 52-week high.
2026-08-12
Capricor (CAPR) Narrows to Upper Limb, and the August 22 FDA Date Moves
The FDA extended Capricor's deramiocel PDUFA date from August 22 to November 22, a three-month major-amendment delay confirmed August 24, and CAPR traded up more than 7% intraday to $6.75 on the news.
2026-08-09
Nu Holdings Earnings Preview (August 13): The One Name This Week Where The Whisper Sits Below Consensus
Nu Holdings reports Q2 2026 on August 13 after the close. Consensus is $0.19 on $5.48bn, the computed whisper is $0.18, and Q1's risk-adjusted net interest margin fell 100bp to 9.5%.
2026-08-09
Birkenstock Earnings: The Currency Wedge Closed To Two Points
Birkenstock's fiscal Q3 revenue rose 13% reported and 15% in constant currency, closing the six-point FX wedge to two. Guidance went up, adjusted EPS missed, and BIRK jumped 13% premarket.
2026-08-09
JD.com Q2: Revenue Went Backwards, Profit Swung Positive, Delivery Halved
JD.com Q2 2026 results: net revenues fell 2.9% to RMB 346.4bn, operating income swung to RMB 4.5bn from a RMB 0.9bn loss, and new-business revenue halved to RMB 7.3bn. The ADR fell premarket.
2026-08-09
Coherent Q4 Results: A Beat Above Its Own Guide, Sold In After-Hours Trade
Coherent posted fiscal Q4 non-GAAP EPS of $1.74, above its own $1.52-1.72 guide, on revenue of $2.05 billion, and shares still fell about 3.6% after hours from an already-elevated close.
2026-08-09
eToro Earnings Preview (August 11): $2.15bn Of Crypto Revenue, And Almost None Of The Profit
eToro beat EPS estimates ($0.68 vs $0.61) but net contribution fell to $229 million from Q1's $258 million as crypto revenue kept shrinking. Shares sold off hard, reported down 8-14%.
2026-08-09
Cardinal Health Earnings Preview (August 11): The Tightest Consensus Of The Week, And A Whisper 13% Above It
Cardinal Health reported non-GAAP EPS of $2.91, above the $2.42 consensus but boosted $0.31 by a one-time tariff refund. Shares hit a 52-week high near $253 on a raised FY27 guide.
2026-08-06
Sea Limited (SE) Earnings August 11: Options Price a 19% Move, and Nobody Agrees on the Number
Sea Limited reported Q2 2026 revenue of $7.8 billion, up 48%, and closed the day up 13.64% at $130.52. GAAP diluted EPS of $0.70 missed one estimate, but the revenue and GMV story carried the tape.
2026-08-04
Walmart Earnings August 20: Consensus Sits on Top of the Guide While Tariffs Move the Price Tags
Walmart reports fiscal Q2 2027 on Thursday August 20 before the open. Consensus of $0.74 EPS sits at the top of the $0.72-0.74 guide, with tariff pricing and trade-down in focus.
2026-08-04
Cava Earnings Preview (August 11): A 9.7% Comp Quarter Meets Its Easiest Lap of the Year
Cava beat Q2 2026 estimates and shares are up 15% Wednesday to $70, but guidance held flat on a Cyclospora produce scare, and Mizuho cut its target to $70 the same morning.
2026-08-04
Super Micro Earnings August 11: The $60 Billion Order Claim Gets Cross-Examined. Options Price 18%
Super Micro reported fiscal Q4 2026 revenue of $11.12 billion, a 17.5% gross margin and $1.70 non-GAAP EPS, then guided fiscal 2027 to $65-72 billion. Shares rose 6-9% after hours.
2026-08-04
Oklo Earnings (August 7): First Revenue of $1.21 Million, and Criticality Came From the Other Reactor
Oklo booked its first revenue, $1.21 million, and lost $48.5 million in Q2 2026. The Groves isotope reactor in Texas went critical on August 5; Aurora in Idaho did not.
2026-08-04
DraftKings Earnings (August 6): Revenue Fell 5% to $1.44 Billion and Missed, With Predictions Growing Faster Than Planned
DraftKings' Q2 2026: revenue of $1,443 million fell 5% and missed the $1.52 billion expected, sports consumer volume rose 15% to $13.1 billion, and monthly unique payers grew 9% to 3.6 million.
2026-08-04
The Trade Desk Earnings (August 6): Revenue Missed Its Own Guide, Q3 Guided 19% Light, and Three Executives Replaced
The Trade Desk's Q2 2026: revenue of $715.1 million up 3% missed both consensus and the company's own guide, Q3 was guided near $650 million, and the stock fell about 22%.
2026-08-04
Airbnb Q2 2026 Earnings: Revenue Up 17% to $3.6 Billion, Margin at 35%, and the Guide Went Up
Airbnb's Q2 2026: revenue of $3.6 billion up 17% beat expectations, gross bookings rose 16% to $27.2 billion, adjusted EBITDA margin reached 35% and full-year guidance was raised.
2026-08-04
Datadog Earnings (August 6): A Beat, a Raise, and the Stock Fell 17% Anyway
Datadog's Q2 2026: revenue of $1.12 billion and EPS of $0.65 both beat, full-year guidance rose to $4.45-4.47 billion, and the stock still fell 17% on free cash flow margin contraction.
2026-08-04
AppLovin Earnings: Revenue of $1.92 Billion Landed Inside Its Own Guide, Under the Street, and the Stock Fell 16%
AppLovin's Q2 2026: revenue of $1,924 million up 53% landed inside company guidance but under the $1.94 billion street forecast, and adjusted EBITDA of $1,614 million missed the guided floor.
2026-08-04
Novo Nordisk Earnings (August 5): Operating Profit Beat at DKK 33.4 Billion and the Full-Year Guide Improved Again
Novo Nordisk's Q2 2026 results: adjusted operating profit of DKK 33.4 billion beat the DKK 28.7 billion expected, sales of DKK 78.5 billion rose 3%, and full-year guidance improved to 0 to -6%.
2026-08-04
Eli Lilly Earnings (August 5): Revenue Up 48% to $23 Billion, EPS of $8.38, and the Year Guided Up to $85-87 Billion
Eli Lilly's Q2 2026: revenue of $23.0 billion up 48% against about $20.5 billion expected, adjusted EPS of $8.38, full-year guidance raised to $85-87 billion, and Mounjaro up 91% to $9.9 billion.
2026-08-04
Disney Earnings (August 5): Adjusted EPS of $2.06 Beat, Revenue Missed, and Experiences Set a Record $10 Billion Quarter
Disney's fiscal Q3 2026: adjusted EPS of $2.06 against $1.86 expected, revenue of $25.25 billion up 7% but short of $25.4 billion, a record $10 billion Experiences quarter, buyback raised to $9 billion.
2026-08-03
Palantir Earnings: Revenue Up 93%, Guidance Raised to $8.15 Billion, and the Whisper Bar Cleared With Room to Spare
Palantir's Q2 2026 results: revenue of $1.935 billion, up 93%, adjusted EPS of $0.41 versus $0.35 expected, full-year guidance raised to $8.15-8.16 billion. PLTR rose 12-15% after hours.
2026-08-03
Circle Earnings (August 5): Revenue of $701 Million Missed, EPS Beat, and the Other-Revenue Guide Roughly Doubled
Circle's Q2 2026 results: total revenue and reserve income of $701 million up 7% missed expectations, EPS of $0.18 beat, and USDC in circulation grew 19% to $73.3 billion on $14.8 trillion of volume.
2026-08-03
Take-Two Earnings (August 7): Pre-Orders Are 'Unprecedented and Astonishing', and the Guide Still Did Not Move
Take-Two beat on fiscal Q1 net bookings of $1.39 billion and reaffirmed GTA 6 for November 19, but reiterated its $8.0 to $8.2 billion year and guided Q2 below consensus.
2026-08-03
SpaceX Earnings Preview (August 4): The First Print Ever, With 911 Million Shares Unlocking 48 Hours Later
SpaceX reports its first earnings ever on August 4, with $6.9 billion of revenue expected and 911.5 million shares unlocking August 6. What to watch and how to trade it.
2026-07-16
SoFi Earnings: Record $1.2 Billion of Adjusted Net Revenue, Up 40%, and the Year Guided Up to $4.75-4.85 Billion
SoFi's Q2 2026: record adjusted net revenue of $1.2 billion up 40%, adjusted EBITDA up 44% to $358 million, record $14.8 billion of originations, and full-year guidance raised to $4.75-4.85 billion.
Breakdowns & Reactions
What actually happened, and why the stock moved
2026-09-19
Stock Market Week Ahead (Sep 21-25): Costco, AutoZone, KB Home and a 5% Ten-Year
Week ahead September 21-25: no Fed meeting, no CPI and no jobs report. KB Home reports Tuesday, flash PMIs land Wednesday, new home sales and Costco Thursday, with the 10-year Treasury yield near 5%.
2026-08-28
Options Scorecard: The Week of August 17, Graded (25 Calls, 72% Right)
Every options play logged the week of August 17, scored against what actually happened: 18 of 25 resolved calls right. Argenx's premarket pop that never faded is the clearest miss, and the sell-premium reflex from July is back to working.
2026-08-21
Options Scorecard: The Week of August 10, Graded (35 Calls, 51% Right)
Every options play logged the week of August 10, scored against what actually happened: 18 of 35 calls right. Fabrinet's straddle pass is the biggest miss, and the losses cluster on the sell side.
2026-08-19
Why Is AUNA Stock Up Today After a 15% Earnings Crash?
AUNA sank as much as 15% intraday after Auna S.A. missed Q2 profit estimates, then closed up 0.18% at $5.43. Adjusted EBITDA fell 6% and full-year guidance now needs a much stronger second half.
2026-08-19
August 20 Hour by Hour: Walmart at 7am, Deere at 10am ET
Walmart and Alibaba report before 7am ET, three more calls run through 10am, jobless claims and the Philly Fed print at 8:30am, and a 319 million share SpaceX unlock lands the same Thursday.
2026-08-18
Why Is Xos (XOS) Stock Up Today? A First Air Force Contract Doubled a Beaten-Down EV Truck Maker
Xos (XOS) shares more than doubled Tuesday to $4.31 from Monday's $2.09 close after the nano-cap EV truck maker won its first Air Force contract, a prototype deal with no disclosed dollar value.
2026-08-15
Is NetEase (NTES) a Buy Before Earnings? The Q2 Profit Drag Has Already Reversed
Is NetEase a buy before August 20 earnings? The profit gap Nomura flags is a mark on Alibaba and Pinduoduo, struck June 30 at $95.98 and $76.28. Both have since risen 29% and 11%.
2026-08-15
Is Baidu (BIDU) a Buy Before Aug 18? $28B of It Is Cash
Baidu reports Q2 on August 18 with a $35.2bn market cap and $27.9bn of net cash and investments behind it. The verdict on the shares, and why the print itself is the wrong thing to buy.
2026-08-15
Is Deere (DE) a Buy Before Earnings? Not at 33x a Falling Number
Deere reports fiscal Q3 on August 20 at about 33x forward earnings while its own guide tops out below last year. The pass on shares, and why the 5% implied move is the cheaper side of it.
2026-08-15
Is Nu Holdings (NU) a Buy? 49% Growth Was 67% in Dollars
Nu Holdings crossed $1 billion of quarterly profit and jumped 9.33% to $15.23. The headline 49% growth is FX-neutral: in dollars it was 66.6%, and the 90-day bucket got worse.
2026-08-14
Is Alibaba (BABA) a Buy Before August 20 Earnings? Cloud Earns 74% of the Profit
Alibaba reports June-quarter results August 20. The stock sits 35.7% below its high and under every named target, but group adjusted EBITA fell 84%. The verdict, and the level worth paying.
2026-08-14
Why Is AAOI Stock Up 15%? There Was No News Today
Applied Optoelectronics closed up 15.53% at $150.28 on August 14 with no company news. The quarter was eight days old, the FCC ban is still a draft, and AAOI sits 35.7% under its high.
2026-08-14
Why Is KinderCare (KLC) Stock Down? A 1.5% Guide Cut Met 3.6x Leverage
KinderCare cut FY2026 adjusted EBITDA guidance to $200-220M and KLC fell 45% intraday to $2.65. Against $752M of net debt and $115.1M of first-half EBITDA, the equity is 29% of the enterprise.
2026-08-14
Options Scorecard: The Week of August 3, Graded (37 Calls, 59% Right)
Every options play logged during the busiest earnings week of the quarter, scored against what actually happened: 22 of 37 calls right, Palantir the biggest miss, Super Micro a graded call reversed.
2026-08-13
Is Target (TGT) a Buy Before August 19? The Street's Average Is $15 Below the Price
Target closed at $159.00 on August 19, up 4.28% at a 52-week high and 11.4% above the sell-side's $140.90 average target. The pass at $155.51 is marked as a loss.
2026-08-13
Why Is Innventure (INV) Stock Down? A $100M Run Rate, Withdrawn
Innventure fell about 46% after hours on August 13 after suspending Accelsius' 2026 targets, including a $100M run-rate goal it was chasing with $953,000 of quarterly revenue.
2026-08-13
Why Is Accelerant (ARX) Up 43%? A 49% Premium Below the IPO Price
Thoma Bravo is taking Accelerant private at $20.25 cash, a 49% premium that still lands below the $21 IPO price from thirteen months ago. The arb pays 4% and risks 30%.
2026-08-13
Why Is Leslie's (LESL) Stock Down? It Just Earned $5.01 a Share
Leslie's reported $5.01 of quarterly EPS and fell around 44% after hours on August 12, after flagging substantial doubt it can continue as a going concern against $786.7M of debt.
2026-07-31
Why Did Roblox (RBLX) Stock Drop 29%? Its Worst Day Ever, and Age Verification Is the Reason
Roblox fell 29% to $34.50, its worst session on record, after cutting full-year bookings by $900m and guiding Q3 to negative growth for the first time. Age verification is why.
2026-07-30
Why Did Apple Stock Drop After Earnings? Services Missed, Then the September Guide Came In Light
Apple fell 7.8% after hours despite beating on revenue and EPS. Services missed at $30.74bn, then Apple guided September to 9% to 11% growth against the 12% expected. Why it dropped.
2026-07-29
Apple Reports Tonight: $108.9 Billion Expected, iPhone Up 23%, and Tim Cook's Last Earnings Call as CEO
Apple reports fiscal Q3 after the close July 30, with revenue of $108.9B and EPS of $1.89 expected. The call at 5pm ET is Tim Cook's last as CEO. What actually decides the reaction.
2026-07-27
Apple Options Before Earnings: $442 Million in Calls, a 4% Implied Move, and What It Actually Predicts
Apple options traders bought $442M of calls Friday and priced a 4% earnings move against a 1% historical average. What that flow means, and whether it predicts direction at all.
2026-07-24
Tesla Stock Collapse: The 3% After-Hours Head-Fake That Became a 16% Rout by Friday
Tesla fell just 3% Wednesday evening on Q2 earnings, then collapsed ~16% over two sessions into Friday. Why the 1.4% margin took 48 hours to bite, and the trade.
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