Welcome to today's coverage of earnings season!
This is the time of year when publicly traded companies report their financial results, giving investors and analysts a glimpse into their performance and future outlook. We'll bring you real-time updates, analysis, and commentary on the latest earnings reports from major companies across various sectors. Stay tuned as we break down the numbers, highlight surprises, and provide insights into what these results mean for the market.
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Summary
- Disney beats on earnings per share, raises guidance
- McDonald's sales grow worldwide
- Uber trip numbers surge
- Honda profits crash amid tariffs
- Plus more to come
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8:51 am (AEST):
Good morning, everyone! Harlan Ockey here to walk you through today's earnings.
Starting off on the NYSE with Disney (DIS), the company beat expectations on earnings per share last quarter and has raised its full-year guidance, though it missed estimates on revenue.
Adjusted earnings per share were US$1.61, up from $1.39 year-over-year and beating LSEG estimates of $1.47. Revenue was $23.65 billion, rising 2% but under estimates of $23.73 billion.
Total operating income was up 8%, reaching US$4.6 billion.
Its Entertainment segment saw operating income fall by US$179 million to $1.0 billion, driven by a decline in Linear Networks and in Content Sales/Licensing. Disney+ and Hulu subscriptions were up 2.6 million from last quarter.
Its Sports segment posted a US$235 million increase in operating income to $1.0 billion, while Experiences operating income grew by $294 million to $2.5 billion.
“The company is taking major steps forward in streaming with the upcoming launch of ESPN’s direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition that harnesses the highest-caliber brands and franchises, general entertainment, family programming, news, and industry-leading sports content. And we have more expansions underway around the world in our parks and experiences than at any other time in our history," said CEO Bob Iger.
Disney's guidance for next quarter projects a quarterly increase of more than 10 million Disney+ and Hulu subscriptions. Across fiscal 2025, it expects adjusted earnings per share of US$5.85, compared with its May guidance of $5.75.
Garry West has the full story.
9:06 am (AEST):
At the NYSE again, McDonald's (MCD) surged past estimates, driven by an increase in sales worldwide.
Revenue was US$6.84 billion, up 5% year-over-year and above LSEG estimates of $6.7 billion. Earnings per diluted share were $3.14, rising 12%.
Operating income was US$3.23 billion, up 11%.
Global comparable sales increased by 3.8%, with 2.5% growth in the United States, 4.0% in International Operated Markets, and 5.6% in International Developmental Licensed Markets. All markets within these regions saw positive comparable sales, the company said.
Our 6% global Systemwide sales growth this quarter is a testament to the power of compelling value, standout marketing, and menu innovation — proving again that when we stay focused on executing what matters most to our customers, we grow,” said CEO Chris Kempczinski. “Our technology investments and ability to scale digital solutions at speed will continue to elevate the McDonald’s experience for customers, crew, and our global System.”
Read Mark Story's report here.
9:25 am (AEST):
And at the NYSE again, Uber (UBER) reported an 18% year-over-year rise in trips last quarter, with double digit percentage increases across both its Mobility and Delivery segments.
Uber trips reached US$3.3 billion, with gross bookings up 17% to $46.8 billion. Monthly active platform consumers grew by 15% to reach 180 million.
Revenue was US$12.65 billion, up 18% and beating LSEG estimates of $12.46 billion. Earnings per share were $0.63, in line with estimates.
Net income rose 33% to US$1.36 billion. Income from operations soared by 82% to $1.45 billion.
Its Mobility segment saw a 16% increase in gross bookings to US$23.76 billion, while Delivery gross bookings were up 20% to $21.73 billion. Freight gross bookings declined by 1% to $1.26 billion.
While the company did not disclose the percentage of trips in self-driving vehicles, it now operates robotaxi services in 12 cities in partnership with companies like Waymo.
“Our platform strategy is working, with record audience, frequency, and profitability across Mobility and Delivery,” said CEO Dara Khosrowshahi. “But we’re still only beginning to unlock the platform’s full potential, now with 20 autonomous partners around the world.”
Uber's guidance next quarter expects gross bookings of US$48.25-49.75 billion.
9:39 am (AEST):
Over to the NASDAQ, Airbnb (ABNB) saw double digit percentage growth in both revenue and income.
Revenue was US$3.1 billion, up 12% year-over-year. Net income grew by 16% to $642 million.
Nights and seats booked through Airbnb reached 134.4 million last quarter, rising by 7%. Gross booking value was up 11% to US$23.5 billion.
Adjusted EBITDA was up 17% to US$1.0 billion.
"Airbnb had a strong Q2, exceeding expectations across key metrics including bookings, revenue, and margins. Despite global economic uncertainty early in the quarter, travel demand picked up, and nights booked on Airbnb accelerated from April to July," the company wrote.
North America, its largest market, reported low single digit growth in nights and seats booked. While growth was seen across regions, Latin America led with an increase of nearly 20%, the company said.
Airbnb introduced Airbnb Services and Airbnb Experiences in May, allowing users to book services like meals and spa treatments and travel activities. It also redesigned its app, which the company said would “put experiences and services front and centre”.
The company's guidance next quarter expects revenue of US$4.02-4.10 billion.
9:56 am (AEST):
At the NASDAQ, Thomson Reuters (TRI) posted mixed results, surpassing estimates on adjusted earnings per share while revenue growth lagged.
The company delivered an adjusted earnings per share of US$0.87, beating analyst estimates of $0.83. Diluted earnings per share plummeted 63% to $0.69, which Thomson Reuters credited to currency losses.
The information giant's "Big Three" segments — Legal, Tax & Accounting, and Corporates — managed 9% organic revenue growth. These segments represent 82% of total revenues.
Total revenues only crept up 3% to US$1.79 billion, just meeting Wall Street's expectations.
“We saw good momentum continue in the second quarter, with revenue in-line and margins modestly ahead of our expectations”, said CEO Steve Hasker.
"We remain focused on delivering product innovation across our portfolio, as exemplified by the launch of CoCounsel Legal, including Deep Research on Westlaw and guided workflows, and CoCounsel for tax, audit and accounting. With these advanced agentic AI offerings, we continue to leverage our authoritative content and deep expertise to bring transformative professional-grade AI solutions to our markets.”
Thank you to Cameron Drummond for that write-up. Read the full report here.
10:16 am (AEST):
Over to the TYO, Honda Motor (7267) saw operating profit crash last quarter amid U.S. auto industry tariffs, although its revenue beat estimates.
Operating profit was JP¥244.17 billion, down 49.6% year-over-year and below LSEG estimates of ¥323.48 billion. Revenue was ¥5.34 trillion, dropping 1.2% but passing estimates of ¥5.25 trillion.
Earnings per share were JP¥46.80, a collapse from the ¥81.81 one year ago.
Its Automobile segment posted a loss of JP¥29.63 billion last quarter, compared with a profit of ¥222.84 billion one year ago.Its Motorcycle, Financial Services, and Power Products & Other segments all saw profits grow, though Power Products & Other continued to report a loss.
The company raised its full-year forecast, however, and now projects revenue of JP¥21.10 trillion and operating profit of ¥700 billion. Its previous guidance included revenue of ¥20.30 trillion and profit of ¥500 billion.
“As a result of analyzing the impact of tariffs and reassessing our foreign exchange assumptions in light of the latest conditions, the Company upwardly revises its forecast for operating profit, profit before income taxes, profit for the year, and profit for the year attributable to owners of the parent for the fiscal year ending March 31, 2026,” Honda wrote.
Honda plans to increase production volume in the U.S. to avoid the impact of tariffs, including potentially for its electric vehicles, executives said on an earnings call.
10:52 am (AEST):
Back at the NASDAQ, DoorDash (DASH) beat expectations on earnings and revenue, reaching new quarterly records.
Revenue was US$3.28 billion, up 25% year-over-year and above LSEG estimates of $3.16 billion. Earnings per share were $0.65, beating estimates of $0.44.
“In Q2 2025, we generated new quarterly records for Total Orders, Marketplace GOV, Revenue, and GAAP net income. In Q2 2025, we also celebrated passing 10 billion lifetime orders globally,” the company wrote. “Our progress reflects our team’s innovation, operational excellence, and hard work, and we intend to continue investing to expand the scale, scope, and capabilities of our business going forward.”
Total orders were 761 million, growing 20%. Marketplace gross order volume was US$24.2 billion, up 23%.
GAAP net income was US$285 million, rising from a loss of $157 million one year ago. Adjusted EBITDA was $655 million, compared with $430 million in 2024's second quarter.
Its guidance next quarter projects marketplace gross order volume of US$24.2-24.7 billion, with adjusted EBITDA or $680-780 million.
11:26 am (AEST):
Now to the CPH, Novo Nordisk (NOVO) saw double digit percentage growth in sales and profit last half, but has cut its guidance.
Net sales were DK154.94 billion kr (US$24.2 billion, A$37.2 billion), up 16% year-over-year. Its net profit was 55.54 billion kr, rising 22%.
Operating profit increased by 25% to DK72.24 billion kr. Diluted earnings per share were up 23% to 12.49 kr.
“While delivering 18% sales growth in the first half of 2025, we have lowered our full-year outlook due to lower growth expectations for our GLP-1 treatments in the second half of 2025. As a result, we are taking measures to sharpen our commercial execution further, and ensure efficiencies in our cost base while continuing to invest in future growth,” said CEO Lars Fruergaard Jørgensen.
The company announced last week that it would lower its full-year guidance, and now projects sales growth of 8-14%, down from 13-21%. Novo Nordisk credited this to lower growth expectations for the year's second half, driven by slow market expansion and competition for Ozempic and Wegovy in the weight loss drug market.
