Earnings live: SoundHound AI stock soars, The Trade Desk gets pummeled, Wendy’s lowers profit forecast

Reuters reports:

Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks.

The company’s New York stock rose 3% before the bell on Tuesday.

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Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street’s lofty expectations.

The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss.

Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock’s rise. These include President Trump’s executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year.

BigBear.ai (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance.

Here’s what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence:

BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business.

“While we are very optimistic with … growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,” BigBear.ai CEO Kevin McAleenan said in the earnings release.

Listen to BigBear.ai’s earnings call live on the stock page.

Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter.

Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence.

The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue.

The company’s gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025.

Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter.

The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called “a major policy win.”

The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry.

Listen to the earnings call live here.

C3.ai Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder’s health issues.

Bloomberg reports:

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Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure.

Micron is expected to reported fiscal fourth quarter earnings on Sept. 24.

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AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers.

The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share.

Reuters reports:

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Monday.com (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates.

In the second quarter, Monday.com reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence.

Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software.

The Israeli-based company’s operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year.

Monday.com kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025.

“This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I’m energized by the momentum in our business and the opportunities we see ahead,” CFO Eliran Glazer said in the earnings release. “As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.”

According to FactSet’s tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia’s (NVDA) report on Aug. 27).

It’s been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise.

Some other key updates from FactSet’s senior earnings analyst John Butters:

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Wendy’s beat Wall Street’s estimates on the top and bottom lines on Friday; however, the company issued a weaker full-year financial outlook, sending shares about 1% lower in premarket trading.

This year, the company sees adjusted earnings per share in a range of $0.82 to $0.89, lower than its previous forecast of $0.92 to $0.98.

Global systemwide sales are also now projected to come in lower than previously expected for a decline of 3% to 5%, compared to the previous outlook of flat sales to a 2% decline.

In the second quarter, sales decreased 1.8% to $3.7 billion, led by a 3.3% decline in the US market.

The fast food chain reported revenue of $560.9 million, topping estimates of $558 million. Earnings per share were $0.29, also a beat against estimates of $0.25 per share.

On Wednesday, McDonald’s (MCD) reported a return to sales growth after economic uncertainty and inflation weighed on consumers and eroded the restaurant chain’s value perception.

Listen to the earnings call live here.

Trade Desk (TTD) stock fell by a third during premarket trading on Friday — putting it on track to wipe roughly $12 billion from its market cap — after CEO Jeff Green warned that tariff uncertainty began to weigh on some leading global advertisers.

Reuters reports:

The Trade Desk’s second quarter earnings of $0.18 per share were in line with analyst estimates. Revenue of $694 million beat analyst estimates of $686 million, according to S&P Global Market Intelligence. The company expects third quarter revenue of at least $717 million, roughly in line with estimates.

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SoundHound AI (SOUN) reported record revenue in its second quarter results, as its expansion into new verticals, such as restaurants and hospitals, helped fuel 217% year-over-year revenue growth.

The stock rocketed 24% higher in premarket trading on Friday.

SoundHound develops artificial intelligence solutions that businesses use for automation and to create conversational experiences for their customers. In Q2, SoundHound reported strong growth in its automation, automotive, and enterprise AI for customer service verticals.

The company posted a GAAP loss of $0.19 per share on $42.7 million in revenue. Last year, SoundHound reported a loss of $0.11 per share and revenue of $13 million.

SoundHound also raised its 2025 revenue outlook to $160 million to $178 million, up from its previous forecast of $157 million to $177 million.

“The investments we are making are already showing high returns,” SoundHound CFO Nitesh Sharan said on the company’s earnings call. Sharan noted that the company sees a path to profitability “in the near-term horizon.

Listen to the earnings call here.

Under Armour (UA) stock slumped by 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates.

The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty.

Reuters reports:

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Expedia Group (EXPE) stock leaped 15% higher in after-hours trading as Wall Street looked favorably on signs of a travel demand recovery, a raised gross bookings forecast, and double-digit profit growth.

Reuters reports:

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Live Nation Entertainment (LYV) stock rose modestly after hours following second quarter results from the discretionary spending economic bellwether. The release showed that fans are still willing to spend on concerts and live events.

Reuters reports:

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FanDuel-owner Flutter (FLUT) raised its forecast for full-year profit growth on Thursday after a winning streak for US gamblers ended, benefiting the world’s largest online betting company.

A better-than-expected second quarter yielded core profits of $400 million, a 54% rise. Revenue came in at $4.19 billion, above estimates and up from $3.61 billion a year ago.

Flutter increased its annual profit forecast to $3.3 billion from $3.18 billion, projecting 40% year-over-year growth.

The company is looking into the regulatory landscape for prediction markets and considering an entry into that market, which allows users to bet on the outcomes of future events.

Earlier on Thursday, DraftKings (DKNG) also attributed healthy revenue growth to favorable outcomes.

Revenue increased 36% to $1.5 billion, while profits were $0.30 per share, double what Wall Street was expecting at $0.15 per share.

Flutter stock rose fractionally after hours. DraftKings shares were also muted, falling 0.35% on the day and another 0.2% after hours.

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Reuters reports:

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Shares of Pinterest (PINS) dropped over 10% after hours after missing earnings expectations.

Revenue grew 17% year over year to $998 million, and earnings per share were $0.33. Wall Street was looking for revenue of $975 million and earnings per share of $0.35.

Global monthly active users on the site increased 11% annually to reach 578 million.

The results follow earnings from Meta (META), Amazon (AMZN), and Snap (SNAP). On one hand, Snap recorded its slowest quarter of revenue growth in a year. On the other, Amazon’s online ad sales jumped 23% year over year, and Meta’s advertising revenue rose 22%.

“I’m proud of our Q2 results — delivering 17% revenue growth and another quarter of record users. We’re also excited that Gen Z has grown to over half of our user base,” said Bill Ready, CEO of Pinterest. “Three years into our business transformation, I’ve never been more confident in Pinterest’s ability to deliver for our users and advertisers. We’ve found our best product market fit ever by becoming a personalized shopping destination for users and an AI-powered performance platform for advertisers. With this focus, we believe we’re well-positioned to further capture market share.”

Read more here.

Block (XYZ) stock surged after hours as the Jack Dorsey-led fintech company reported 14% gross profit growth and raised its annual profit forecast. Shares were up 10% on Thursday afternoon.

Gross profits for the Square payment processing segment grew 11% year over year to $1.03 billion, while CashApp’s gross profit grew 16% to $1.5 billion.

Block noted strength in consumer spending. In the second quarter, Square’s gross payment volume, or the total monetary value of transactions, grew 10% annually (7% in the US and 25% internationally). The company said it observed notable strength in the food, beverage, and retail categories.

For the full year, Block sees $10.17 billion in gross profit and full-year adjusted operating income of $2.03 billion, representing 2% margin expansion growth.

Read more here.

Texas Roadhouse (TXRH) said it expects greater commodity inflation in the second half of the year to weigh on profitability, which sent shares 3% lower in after-hours trading.

The company reiterated its outlook for positive same-store sales but noted that it expects commodity inflation of 5%, including the estimated impact of tariffs, and labor inflation of approximately 4%.

“Our operators delivered another quarter of strong comparable restaurant sales growth driven by positive traffic across all three of our brands,” Texas Roadhouse CEO Jerry Morgan said in an earnings release. “While we expect commodity inflation to further impact our profitability for the rest of the year, we remain focused on what we can control— preserving our value proposition and maintaining a relentless focus on operational excellence across all our brands.”

For the second quarter, Texas Roadhouse earned net income of $125 million, or $1.86 per share, missing Wall Street estimates of $1.91 per share. Revenue of $1.51 billion rose 12.7% year over year.