Welcome to our live blog 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 and provide insights into what these results mean for the market.
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Summary
- Nintendo reports strong Switch 2 sales
- Uber trips surge, though operating income falls short
- AMD beats estimates with Client and Gaming strength
- Spotify sees major growth in paying subscribers
- Ferrari revenue climbs despite drop in Americas shipments
- Plus Marriott, Pfizer, and more to come
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8:50 am (AEDT):
Good morning! Harlan Ockey here to walk you through the day's earnings.
Starting off on the TYO with Nintendo (7974), the company has raised its sales forecast for its Switch 2 console after it drove a major surge in revenue.
Nintendo's net sales for the six months ended 30 September were JP¥1.10 trillion, up 110.1% year-over-year, with ¥874.3 billion of this from outside Japan. Its profit per share was ¥170.87, up from ¥93.33.
Operating profit rose by 19.5% to ¥145.18 billion. Ordinary profit increased 60.5% to ¥236.04 billion.
Switch 2 sales reached 10.36 million units following its launch in June. Sales of Nintendo's Switch 2 software were 20.62 million units.
Nintendo expects to sell 19 million Switch 2 consoles by March 2026, up from its prior forecast of 15 million.
“For Nintendo Switch 2, following the release of Pokémon Legends: Z-A – Nintendo Switch 2 Edition, as well as a Nintendo Switch 2 hardware bundle that includes this title in October, we plan to release Kirby Air Riders in November and Metroid Prime 4: Beyond – Nintendo Switch 2 Edition in December. Other software publishers also plan to release a range of titles,” wrote Nintendo. “We will aim to keep the momentum of released titles and continuously introduce new titles to expand the platform's user base.”
It projects net sales will be ¥2.25 trillion across the fiscal year to March, with profit per share of ¥300.62.
Shares were down 0.77% yesterday, with trading set to open today at 11 am AEDT.
Frankie Reid has the full story.
9:15 am (AEDT):
Over to the NYSE, Uber (UBER) beat revenue estimates last quarter, though shares dropped 5.1% on weaker-than-expected operating income.
Revenue was US$13.47 billion, up 20% year-over-year and above LSEG estimates of $13.28 billion. Earnings per share were $3.11, up from $1.20.
Gross bookings rose 21% to $49.74 billion, also passing StreetAccount estimates of $48.95 billion.
Income from operations was up 5% to $1.11 billion, below VisibleAlpha estimates of $1.61 billion.
Trip numbers were up 22% to 3.5 billion. Monthly Active Platform Consumers increased by 17% to 189 million, and trips per monthly active user grew by 4%.
“Uber’s growth kicked into high gear in Q3, marking one of the largest trip-volume increases in the company’s history,” said CEO Dara Khosrowshahi. “We’re building on that momentum by investing in lifelong customer relationships, leaning into our local commerce strategy, and harnessing the transformative potential of AI and autonomy.”
The company expects gross bookings of $52.25-53.75 billion for the fourth quarter.
9:35 am (AEDT):
Moving to the NASDAQ, Advanced Micro Devices (AMD) surpassed earnings per share and revenue estimates after a major surge in its Client and Gaming segment.
Earnings per share were up 30% to US$1.20, above LSEG estimates of $1.16. Revenue increased 36% to $9.25 billion, beating estimates of $8.74 billion.
Client and Gaming segment revenue grew by 73% to $4 billion, which the company credited to greater sales of Ryzen processors and Radeon gaming GPUs. Client revenue was up 46% to a record $2.8 billion, while Gaming revenue rose 181% to $1.3 billion.
Data Center segment revenue increased by 22% to $4.3 billion on strong demand for fifth generation EPYC processors and Instinct MI350 Series GPUs. Embedded segment revenue dropped 8% to $857 million.
AMD will power OpenAI's next-generation artificial intelligence infrastructure with its Instinct GPUs, the companies said last month, which is set to begin in the second half of 2026.
AMD projects Q4 revenue will be $9.6 billion, plus or minus $300 million.
Shares fell 3.7% during the day, and a further 2.7% in after-hours trading.
9:47 am (AEDT):
At the LSE, BP (BP) posted better-than-expected profit last quarter, with high production balancing the period's lower oil prices.
Underlying replacement cost profit was US$2.21 billion, down from $2.27 billion one year ago but above LSEG estimates of $2.03 billion.
Earnings per share were $0.85, up from $0.83 and passing Zacks estimates of $0.72. Revenue was $49.3 billion, increasing from $48.3 billion but below Zacks estimates of $63 billion.
Total production was 1.556 million barrels of oil equivalent per day, rising from 1.488 million barrels one year ago. Prices were $59.58 per barrel, falling from $70.22.
"We continue to make good progress to cut costs, strengthen our balance sheet and increase cash flow and returns. We are looking to accelerate delivery of our plans, including undertaking a thorough review of our portfolio to drive simplification and targeting further improvements in cost performance and efficiency," said CEO Murray Auchincloss.
10:12 am (AEDT):
Back to the NYSE, Spotify (SPOT) beat estimates on revenue and earnings per share after strong paying subscriber growth.
Revenue was EU€4.27 billion, up from €3.99 billion year-over-year and passing Bloomberg estimates of €4.23 billion. Earnings per share were €3.28, rising from €1.45 and above estimates of €1.98.
Paying subscribers rose 12% to 281 million, with growth across all regions. Monthly active users were up 11% to 713 million.
Operating income increased 28% to €582 million.
"The business is healthy. We’re shipping faster than ever. And we have the tools we need – pricing, product innovation, operational leverage, and eventually the ads turnaround – to deliver both revenue growth and profit expansion," said outgoing CEO Daniel Ek. Ek will step down as CEO at the end of the year, but remain as executive chair.
Its fourth quarter outlook expects 745 million monthly active users with 289 million paying subscribers, and revenue of €4.5 billion.
Shares closed 2.3% lower.
Read Chloe Jaenicke's full story here.
10:48 am (AEDT):
And on the NASDAQ, Shopify (SHOP) reported major growth in revenue and gross merchandising volume last quarter.
Revenue was US$2.84 billion, up from $2.16 billion year-over-year. Gross profit was $1.39 billion, rising from $1.12 billion.
Merchant solutions revenue grew from $1.55 billion to $2.15 billion. Subscription solutions revenue increased from $610 million to $699 million.
Gross merchandising volume was $92.01 billion, growing from $69.72 billion.
Operating income was $343 million, increasing from $283 million. Operating expenses rose from $835 million to $1.05 billion.
"We build. We ship. We grow. That’s the model - and it’s running at full speed. From entrepreneurs making their very first sale on Shopify every 26 seconds, to global icons like Estée Lauder, we’re powering growth across the full spectrum of commerce," said president Harley Finkelstein.
For Q4, it projects revenue percentage growth in the mid to high twenties, and gross profit percentage growth in the low to mid twenties.
Shopify shares dropped 6.9% across the day.
11:12 am (AEDT):
Over to Milan, Ferrari (RACE) saw a 7.4% jump in revenue despite a decline in shipments in the Americas, with shares rising 3.2%.
Revenue was EU€1.77 billion. Net profit was up 2% to €382 million, beating LSEG estimates of €367.33 million.
Sponsorship, commercial, and brand revenue also rose 21% to €211 million.
EBITDA increased 5% to €670 million. Operating profit increased 7.6% to €503 million.
Total shipments were up 1% to 3,401 units, with Europe, the Middle East, and Africa shipments growing 2% to 1,449 units.
The Americas, its second-largest market, posted a 2% drop in shipments to 1,045 units. The U.S. agreed in September to lower tariffs on European Union-made automotives from 25% to 15%, effective retroactively from August.
Shipments to Mainland China, Hong Kong, and Taiwan fell by 12% to 248. APAC shipments were up 9% to 659.
“We continue to advance with conviction and strong visibility on our development path. At our Capital Markets Day, we have defined a clear trajectory in the long-term interests of our brand, setting the floor for sustainable growth toward 2030,” said CEO Benedetto Vigna.
Its full-year guidance expects at least €7.1 billion in revenue and at least €2.72 billion in EBITDA.
11:32 am (AEDT):
Back to the NASDAQ, Thomson Reuters (TRI) beat estimates on earnings per share and revenue, and a large increase in operating profit.
Earnings per share were US$0.85, up from $0.80 year-over-year and passing Zacks estimates of $0.81. Revenue grew 3% to $1.78 billion, above Zacks estimates by 0.76%.
Operating profit soared 43% to $593 million. The company credited this to a gain on the sale of its remaining stake in financial practice management business Elite, as well as higher revenues.
Adjusted EBITDA increased by 10% to $672 million.
Revenues from its Legal Professionals segment dropped 2% to $728 million. Corporates revenue rose 10% to $478 million, while Tax & Accounting Professionals were up 13% to $251 million.
Its full-year outlook expects revenue growth of 3.0-3.5%. Thomson Reuters shares dropped 5.8%.
11:41 am (AEDT):
In a U.S. futures trading update, Pinterest (NYSE: PINS) dropped 20.2% after missing earnings per share estimates. Super Micro Computer (NASDAQ: SMCI) also fell 9.0% after falling short of earnings expectations.
Arista Networks shares declined 11.3% on weaker-than-expected guidance.
Rivian Automotive (NASDAQ: RIVN) shares increased 3.5%, as losses were smaller than projected.
