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Third quarter earnings season was in full swing this week, with corporate results dropping from Big Tech heavy-hitters Microsoft (MSFT), Alphabet (GOOG, GOOGL), and Amazon (AMZN).
Aside from Big Tech, industries from oil to chips to pharmaceuticals were represented, as Exxon Mobil (XOM), Intel (INTC), Boeing (BA), Ford (F), and Eli Lilly (LLY) also opened their books.
It’s shaping up to be another strong earnings season. According to FactSet data, nearly a quarter of S&P 500 companies have already reported Q3 earnings so far, with an overall earnings growth rate of 29.5%. If that rate holds, it will mark the third straight quarter of earnings growth above 25%.
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ExxonMobil earnings top estimates as diesel, gasoline spike fuels refining margins
Investing.com reports:
ExxonMobil (XOM) reported third-quarter income that topped expectations on Friday, as the oil major was bolstered by a jump in refining margins triggered by ongoing wars in the Middle East and Ukraine.
Adjusted earnings per share stood at $4.23 for the period, topping Bloomberg consensus estimates of $4.13.
Twin conflicts — the U.S.-Israeli war on Iran and Russia’s invasion of Ukraine — have disrupted activity at critical fuel-producing facilities, causing prices to spike.
In preliminary earnings earlier this month, ExxonMobil said higher refining margins would add around $4.5 billion to its overall results, following a boost of $4.1 billion in the preceding quarter. The returns echoed similarly solid profits at other Western oil groups, such as Shell and TotalEnergies.
Exxon Mobil’s Billings Refinery in Billings, Mont. (AP Photo/Matthew Brown, File) · ASSOCIATED PRESS -
Chevron beats estimates as refining margins lift earnings
Investing.com reports:
Chevron Corporation (CVX) shares are up in premarket trading after the company reported third-quarter earnings that topped expectations.
Adjusted earnings were $5.28 per share, surpassing analyst estimates of $4.88, as the energy giant benefited from stronger refining margins and higher crude oil prices. Revenue reached $67.8 billion, exceeding the $60.55 billion consensus estimate and up 36% from $49.7 billion in the same quarter last year.
Chevron stock rose 1% before the bell on Friday.
The company posted adjusted earnings of $10.4 billion for the quarter, compared to $3.6 billion in the prior-year period. U.S. refineries achieved record crude throughput of 1.09 million barrels per day with utilization rates near 98%, while downstream operations delivered significantly higher margins on refined product sales. Shares rose 2.2% following the results.
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Reddit stock tumbles on soft US daily users, weak Q4 outlook
Reddit (RDDT) stock plunged 17% after hours. The company reported better-than-expected third quarter earnings and revenue, but investors were disappointed by softer-than-expected US daily active users and a subdued fourth quarter outlook.
Here’s what Reddit reported in the third quarter, compared to analyst estimates compiled by S&P Global Market Intelligence:
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Revenue: up 53% year over year to $895 million, beating estimates of $875 million
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Global daily active users (DAUs): increased 12% year over year to 130.3 million
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US daily active users: decreased 2% year over year to 50.7 million
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International daily active users: increased 24% year over year to 79.6 million
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Earnings per share: $1.40, versus $1.33 expected
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Q4 revenue guidance: $1 billion to $1.03 billion, lighter than the $1.04 billion forecast by Wall Street
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Q4 adjusted EBITDA guidance: $480 million to $510 million, with a midpoint below the $509 million expected
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Amazon Q3 earnings miss sends stock lower
Amazon (AMZN) reported third quarter results Thursday, missing on the top and bottom lines, sending the stock falling.
Follow live updates from the report and earnings call here >
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Starbucks stock falls as revenue misses expectations but earnings beat
Starbucks (SBUX) earnings beat expectations on Thursday, as the company looked to move beyond its turnaround plan to accelerate growth.
For the fifth consecutive quarter, the coffee giant posted better-than-expected same-store sales growth, up 7.2%, compared to Wall Street’s expectations of 6.2%. That was driven by US sales, which were up 7.7%, with roughly a 5% increase in ticket sizes as customers spent more at Starbucks and roughly a 2% increase in transactions.
“We have a clear plan. We’ve been working the plan. And the plan is working,” CEO Brian Niccol said in prepared remarks. He added that the company is “operating with greater consistency” and that more customers are going to Starbucks.
Adjusted earnings came in at $0.80, more than the $0.71 Wall Street forecast. Revenue fell short, at $9.1 billion, compared with the $9.2 billion the Street was looking for, reflecting the sale of Starbucks China business.
International sales fell short of Wall Street’s expectations, rising just 0.9% compared to the roughly 3% growth the Street was looking for.
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Intel tops Q3 earnings estimates, but falls short of Q4 outlook on sluggish PC sales as stock plunges 20%
Intel (INTC) reported better-than-anticipated third-quarter earnings after the bell Thursday, but Q4 revenue outlook fell short of Wall Street’s expectations on declining PC sales.
Intel stock fell more than 20% on the news.
In the fourth quarter, Intel is projecting revenue of $15 billion to $16 billion, well below the $17 billion analysts expected.
Intel says the shortfall is a result of a worse-than-anticipated drop in PC revenue. The industry is contending with two overlapping factors at the moment: difficult comparisons to last year, when Microsoft ended support for Windows 10, forcing enterprises around the world to purchase newer Windows 11 systems, and the steady increase in PC prices, which is eating into demand.
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Rivian reports upbeat Q3 results, boosts full-year guidance as R2 sales ramp up
Rivian (RIVN) reported upbeat third quarter results after the bell on Thursday and boosted its guidance, citing strong R2 sales.
Rivian reported Q3 revenue of $2.155 billion vs. $2.02 billion per Bloomberg consensus, up 38% from a year ago. Rivian posted an adjusted loss per share of $0.48 vs. $0.61, and an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $435 million vs. $575.9 million, narrower than the $602 million loss from last year.
Rivian also reported a gross profit of $176 million, up $152 million from a quarter ago, though the automotive segment remained negative.
Rivian stock gained on the news.
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Sandisk posts solid earnings results, announces 8-for-1 stock split
Sandisk (SNDK) stock climbed in extended trading after solid across-the-board earnings and guidance beats.
Notably, Sandisk announced it will enact an eight-for-one stock split, effective Nov. 19.
Here’s what Sandisk reported, compared to analyst estimates compiled by S&P Global Market Intelligence:
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Revenue: $11 billion, versus $10.7 billion expected
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Earnings per share: $52.60, versus $47.15 expected
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Fiscal second quarter revenue guidance: $12.2 billion to $12.6 billion, with a midpoint above the $12.23 billion forecast by Wall Street analysts
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Fiscal second quarter adjusted earnings guidance: $55.00 to $57.00 (on a pre-split basis), with a midpoint above the Street’s $53.30 forecast
The NAND flash memory maker has been a key beneficiary of the AI data center boom.
“We have started fiscal year 2027 with another quarter of strong performance, with robust and growing demand for our products driving outpaced growth in our data center business,” CEO David Goeckeler said in a press release.
The stock has soared in 2026, but it’s had a rocky few months as of late. Year to date, shares are up over 460%, but the stock has largely treaded water since July.
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Crocs stock soars 25% as HeyDude sales return to growth
Crocs (CROX) stock soared 25% on Thursday to its highest price in over two years as investors cheered on a return to growth for the footwear company’s HeyDude loafer brand and a brighter outlook for 2026 sales.
In the third quarter, HeyDude revenue increased 6.1% over the previous year to $170 million, marking the first sales increase in six quarters for the struggling shoe brand.
HeyDude returns to growth after six straight quarterly declines Crocs bought HeyDude for $2.5 billion in 2022, its largest acquisition ever. But the brand struggled amid excess inventory and discounting, causing investors to become fed up with lagging sales.
HeyDude makes up roughly 16% of Crocs’ total revenue, while the flagship Crocs brand accounts for the remaining 84% of sales.
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Caterpillar stock falls despite earnings beat. Wall Street wanted more.
Caterpillar (CAT) reported and a record order backlog of $78.1 billion in the third quarter, but the stock fell 11% in premarket trading as Wall Street set a high bar and AI-related stocks broadly got hit.
The company has become a growing industrial AI play as its power generation business, which makes and services turbines, has gotten a boost amid booming data center construction.
Here’s what Caterpillar reported, versus analyst estimates compiled by S&P Global Market Intelligence:
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Revenue: increased 17% to $20.7 billion, in line with Wall Street estimates.
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Adjusted earnings per share: $7.20, versus estimates of $7.03 per share.
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Guidance: Maintained full-year outlook for sales to grow in the mid-to-high teens
Analysts may be down on the stock as they were hoping for raised guidance and a wider sales beat.
“Our third-quarter results reflect the durability of our end markets, with strong order rates and a record backlog,” Caterpillar CEO Joe Creed said in the release. “Our team continues to execute our strategic priorities in a dynamic environment, positioning us for a strong year while delivering long-term value for our customers and shareholders.”
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Eli Lilly stock pops on strong demand demand for GLP-1 drugs
Eli Lilly (LLY) shares jumped 4% in premarket trading as strong demand for the company’s GLP-1 drugs Mounjaro and Zepbound boosted the company’s third quarter results.
Here’s what Eli Lilly reported, versus analyst estimates compiled by S&P Global Market Intelligence:
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Revenue: up 39% year over year to $24.4 billion, versus estimates of $22.6 billion
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Adjusted earnings per share: up 7% to $7.48, versus estimates of $6.35
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Guidance: Increased full-year revenue guidance to a new range of $91 billion to $92 billion
“Revenue growth was driven by broad global consumer demand for Mounjaro and Zepbound, the global launches of Foundayo, expanded U.S. coverage for obesity care and a doubling in our newest products in oncology, immunology and neuroscience,” Lilly CEO David Ricks said in the earnings release.
Mounjaro sales rose 65% year over year to $10.7 billion, while Zepbound sales were up 49% to $5.35 billion.
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Alphabet’s stakes in SpaceX and Anthropic cost it this quarter
Alphabet (GOOGL, GOOG) profit took a hit from an unusual place: its stakes in other companies.
Those holdings include about 14% of Anthropic (ANTH.PVT) and a piece of SpaceX (SPCX). They supplied about $6 of Alphabet’s $9.11 in per-share profit in the second quarter. In the third quarter, a nearly $9 billion loss on them cut earnings by $0.55 a share, to $2.12.
Earnings per share by quarter, US dollars · Alphabet, Yahoo Finance The filing that shows which stakes fell isn’t out yet, but SpaceX stock dropped about 12% during the quarter.
Watch Anthropic’s IPO, which could start trading as soon as Nov. 16. Once it’s public, Alphabet will value that stake at the market price every quarter.
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Chipotle stock pops on sustained sales momentum in Q3
Chipotle (CMG) reported third quarter earnings on Wednesday after market close that were better than the Street expected as the restaurant chain sustained sales momentum following slower sales growth since the first quarter of 2025.
Chipotle posted a 2.1% gain in same-store sales, higher than the 1.5% gain Wall Street expected. It posted adjusted earnings of $0.27 per share, slightly below the $0.29 per share expected.
“Three consecutive quarters of positive comparable transaction growth demonstrates that our Recipe for Growth strategy is working,” CEO Scott Boatwright wrote in the release, adding that the company saw traction around its menu and digital innovation, high-efficiency equipment rollout and global expansion.
The stock rose 2%. Year to date, shares are down 20%.
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ServiceNow stock plunges on earnings miss
ServiceNow (NOW) stock plunged 15% after the company missed earnings expectations.
Here’s what the enterprise software company reported in Q3, versus analyst estimates compiled by S&P Global Market Intelligence:
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Revenue: $4.1 billion, versus estimates of $4.09 billion
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Earnings per share: $0.27, versus estimates of $0.35 per share
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Current remaining performance obligations (cRPO): $13.65 billion, representing 20.5% year-over-year growth
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Guidance: ServiceNow raised its forecast for 2026 subscription revenues to $15.78 billion to $15.79 billion.
“This was more than another beat-and-raise quarter for ServiceNow, this was the inflection point for ServiceNow as the Super Intelligence Control Tower,” CEO Bill McDermott said in the earnings release. “Our customers have validated our strategic relevance as the single harness for enterprise intelligence and security.”
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Google Q3 sales fall short of expectations, stock plunges
Yahoo Finance’s Daniel Howley reports:
Google (GOOG, GOOGL) reported its third quarter earnings after the bell on Wednesday, missing revenue projections on lower-than-anticipated advertising sales.
Google saw earnings per share (EPS) of $2.12 on revenue of 127.58 billion. Analysts were looking for EPS of $3.01 on revenue of $127.93 billion. Revenue excluding traffic acquisition costs came in at $111.21 billion. Wall Street was anticipating $111.29 billion.
Google’s advertising segment saw sales of $82.01 billion versus expectations of $83.5 billion, while its cloud unit brought in $30.71 billion. Analysts were projecting revenue of $29.1 billion.
The results come just hours after the company debuted its latest frontier AI model.
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Ford reports Q3 earnings beat, tightens lower end of profit forecast but sees $4 billion in EV losses for year
Yahoo Finance’s Pras Subramanian reports:
Ford (F) reported third quarter earnings that topped estimates and upped the lower end of its profit guidance. The company still sees EV losses piling up by the end of the year.
For the quarter, Ford reported automotive revenue of $46.1 billion vs. $46.2 billion, per Bloomberg consensus, with adjusted EPS of $0.49 vs. $0.41, and adjusted EBIT (earnings before interest and taxes) of $2.66 billion vs. $2.38 billion.
Ford tightened the low end of its full-year adjusted EBIT guidance to between $10.5 billion and $11 billion (from $10 billion to $11 billion seen prior); analysts projected full-year adjusted EBIT of $10.52 billion. Ford’s adjusted free cash flow guidance remained at $6 billion to $7 billion.
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Vertiv stock soars as company’s role in AI boom expands
Vertiv (VRT) stock surged 15% in premarket trading as the data center infrastructure player showed it continues to benefit from the massive capex spending from the likes of Google (GOOG) and Microsoft (MSFT).
“We are in the middle of the largest infrastructure buildout and it’s accelerating,” Vertiv’s CEO Giordano Albertazzi said. “The demands on data center infrastructure are evolving faster than ever, and Vertiv’s role in that buildout keeps expanding.”
Vertiv makes power and cooling hardware for data centers and enterprise networks. As AI fuels demand for this infrastructure, Vertiv said its orders have doubled year over year. The company counts Alphabet, Microsoft, Nvidia (NVDA), and Amazon (AMZN) among its customers, per S&P Global Market Intelligence.
That demand, plus strong third quarter results, have given Vertiv the confidence to raise its full-year outlook. In 2026, the company expects net sales of $14.45 billion to $14.85 billion, up from $13.8 billion to $14.2 billion.
Adjusted diluted earnings per share are expected to be $7.10-$7.20 for the year, representing earnings growth of 69%-71%. The midpoint of that range is above the $6.73 per share forecast Wall Street analysts penciled in.
In the third quarter, Vertiv reported net sales of $4.31 billion, beating Wall Street’s expectations of $3.76 billion. Adjusted diluted earnings per share of $2.21 grew 78% year over year, also beating estimates of $1.82 per share.
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Robinhood stock falls 7% after earnings miss despite record trading volumes
Robinhood (HOOD) reported a weaker-than-expected third quarter profit on Tuesday as declining interest income and rising expenses weighed on the online brokerage despite record trading activity in stocks, options, and prediction markets.
The company reported net income of $476 million, down 14% from a year earlier, while diluted earnings per share fell 16% to $0.51. Revenue rose 12% to $1.42 billion. Analysts had expected earnings of $0.57 per share and revenue of $1.43 billion, according to data compiled by Bloomberg.
Robinhood stock fell 8% in premarket trading on Wednesday. The stock has slumped more than 15% since the start of 2026 through Tuesday’s close, putting it on pace for its worst annual performance since 2022.
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SK Hynix profit jumps 632%, memory chipmaker sees shortage lasting to 2030
US-listed shares of SK Hynix (SKHY) rose 8% in premarket trading on Wednesday, after the memory maker’s record profit and revenue quelled recent investor worries over the AI trade.
South Korean SK Hynix shares (000660.KS) jumped 10% while peer Samsung Electronics (005930.KS) gained 5%. US-based Micron (MU) also rose 2%.
The South Korea-based company reported a 328% jump in quarterly revenue to roughly $78.7 billion, while operating profit surged 632% to about $62.7 billion, delivering an 80% operating margin. Revenue and operating profit increased by 32% and 38%, respectively, from the previous quarter.
Growth was driven by surging AI data center demand, higher memory prices, and early shipments of HBM4, which SK Hynix expects to replace HBM3E as its mainstream product.
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UPS stock jumps on quarterly results, CEO says ‘outlook for holiday demand is strong’
United Parcel Service (UPS) stock rose 2% on Tuesday after the courier posted third quarter results and raised its full-year guidance, signaling solid demand during the upcoming holiday season.
Revenue is expected to come in at $92.6 billion this year, up from a prior forecast of $91.2 billion. UPS also increased its adjusted earnings guidance.
Despite inflation pressures and high diesel costs, UPS is optimistic heading into the last few months of the year.
“US consumers remain resilient and the outlook for holiday demand is strong,” CEO Carol Tomé said on the company’s earnings call.
The company is in the middle of a multiyear turnaround plan aimed at cost-cutting and reconfiguring its delivery network.
