The Earnings Debate

Bölümler

• 
  Birkenstock Holding plc (BIRK) Announced Q3 2026 Earnings on August 13, 2026, Reporting "third quarter revenues of EUR 720 million" 20.08.2026 20dk

  Birkenstock Holding plc reported its fiscal third quarter 2026 financial results, stating "We generated third quarter revenues of EUR 720 million, growth of 13% on a reported basis." For the quarter, "Growth in constant currency was 15%". The "Adjusted gross profit margin for the third quarter was 59.2%, down 130 basis points year-over-year". The company reported "Adjusted EBITDA in the third quarter of EUR 242 million", which was "up 11% year-over-year", with an adjusted EBITDA margin of 33.7%. "Adjusted net profit was EUR 134 million in the third quarter, up 15% year-over-year" and "Adjusted EPS for Q3 was EUR 0.74, up 19% from EUR 0.62 a year ago." Operating cash generated during the third quarter was EUR 247 million, compared to "EUR 261 million in the prior year".Chief Executive Officer Oliver Reichert stated, "We performed exceptionally well in Q3 and once again demonstrated the strength of our brands." He reported that "Closed-toe penetration was up 500 basis points". Within the channels, "DTC growth accelerated to 16% in constant currency" and "own retail revenue grew 50% in constant currency." The company added 13 new owned stores, "bringing our total to 124" and is "on track to meet our target of approximately 140 doors by the end of fiscal '26." Regionally, "Our Americas business was up 14% in constant currency", growth in EMEA was "15%", and APAC grew "23% in constant currency." Management also noted, "We returned capital to shareholders by repurchasing EUR 230 million in shares" and completed debt refinancing where "we repaid EUR 428.5 million of 5.25% senior notes due 2029 and issued EUR 900 million new senior notes due 2033 at 4.5%."For the full fiscal year 2026 outlook, management raised its guidance, stating "we raised our guidance for revenue growth to 15% in constant currency and adjusted EBITDA of at least EUR 710 million." For the full year, the company continues to expect "adjusted gross margin of 57% to 57.5% and adjusted EBITDA margin of 30.2% to 30.5%." Full-year adjusted EPS is expected to be "EUR 1.90 to EUR 2.05", and CapEx is projected to be "in the range of EUR 110 million to EUR 130 million." The net leverage target for the end of fiscal 2026 is "approximately 1.6 to 1.7x."In product updates, management highlighted innovation with its premium "1774 collection", introducing "new Raffia, Canvas and premium leather executions in Naples, Boston, Arizona and Gizeh." The company also "collaborated most recently with Song for the Mute, Ader Error and Repetto," which was "a very successful launch targeting the female-led and growing popularity of ballet flats." This was accompanied by "strong demand for the Mary Jane style, Santa Clarita". Among clog executions, "the Naples grew by more than 4x the units sold year-over-year", and shoe growth was led by "Utti, a lace-up moc-toe, which more than doubled in units sold year-over-year."
• 
  Company (WMT) Announced Q2 2027 Earnings on August 20, 2026, Reporting "Enterprise net sales growth in constant currency of 5%" 20.08.2026 19dk

  For the second quarter, Walmart reported "Enterprise net sales growth in constant currency of 5%". On a constant currency basis for the quarter, "adjusted operating income grew 17.4%" and "adjusted EPS increased over 19%". Operating income growth was positively impacted by "a net benefit of approximately 750 basis points related to tariff refunds received in Q2". For the digital business, "Our Walmart U.S. e-commerce business achieved double-digit incremental margins for the first half of the year". Additionally, e-commerce grew "23% globally" for the quarter, while "membership fee revenue was at an all-time high on growth of 17%".Key business updates highlighted Walmart's focus on price leadership, with the Walmart U.S. team delivering "more than 11,000 rollbacks during the quarter, up from 7,200 rollbacks at the end of the first quarter". During the second quarter, "Walmart U.S. e-commerce grew 24% in Q2" and marketplace saw "U.S. net sales up 52%". High-margin platforms scaled, as "global advertising, which increased 38%" was "driven by another strong quarter from Walmart Connect in the U.S. and Flipkart ads". Additionally, the physical store's role continues to evolve as stores serve as "the last mile fulfillment nodes for 80% of our e-commerce orders and 100% of our fast deliveries".In product and partnership developments, Walmart announced a "prepared food partnerships like the one we announced with Subway" to expand into "everyday food spending". Under the platform strategy during the quarter, they "expanded our U.S. marketplace platform capabilities into both Mexico and Canada" and "launched Walmart+ in Canada". They also "gave a boost to our advertising business with the acquisition of Vibe", which is expected to expand their reach with small- and medium-sized merchants. On the technology front, the AI-powered digital shopping assistant "Sparky" saw strong engagement, with the "number of customers using Sparky is up 70% from last year".For forward guidance, management raised its fiscal year sales and operating income targets.The company raised its "fiscal year sales guidance to 4% to 5% from 3.5% to 4.5% previously". Operating income guidance for the full year was raised "to 7% to 8.5% versus 6% to 8% previously". Full year EPS expectations were increased "to $2.80 to $2.87 from $2.75 to $2.85 previously". However, for the third quarter, "operating income growth on a constant currency basis is expected to grow 2% to 4%" due to the timing of tariff refund investments, with Q3 enterprise sales growth expected to be "between 3% and 3.75%" and Q3 EPS expected to be "$0.62 to $0.64". Additionally, the company is eligible for "approximately $2.9 billion of tariff refunds, amounting to about 0.5% of annual U.S. net sales", which was received during the fiscal year.
• 
  Alibaba Group Holding Limited (BABA) Announced Q1 2027 Earnings on August 20, 2026, Reporting total revenue increased 9% year-over-year to RMB 269 billion for the quarter. 20.08.2026 20dk

  Alibaba Group Holding Limited reported its financial results for the quarter ended June 30, 2026, which is the first quarter of fiscal year 2027.Toby Xu stated that "Total revenue increased 9% year-over-year to RMB 269 billion" for the quarter.The company reported that "Our GAAP net income was RMB 10.4 billion, a decrease of 75%" for the quarter, and "Total adjusted EBITDA decreased 30% to RMB 27.3 billion" for the quarter.Toby Xu reported that "Operating cash flow this quarter increased by 11% to RMB 22.9 billion compared to RMB 20.7 billion in the same quarter last year" and "Free cash flow was an outflow of RMB 44.7 billion compared to an outflow of RMB 18.8 billion in the same quarter last year", with the decrease primarily driven by investment in cloud infrastructure.Capital expenditure for the quarter was reported as "CapEx was RMB 67.7 billion this quarter".During the quarter, Alibaba implemented a strategic realignment of certain businesses in its financial reporting, presenting four segments: Alibaba e-commerce group, AI cloud and computer services, AI labs and applications, and all others.Management emphasized investments in its strategic priorities of AI plus cloud and consumption.Eddie Wu noted that "Alibaba Cloud's external revenue growth accelerated to 45%" for the quarter, while the segment's adjusted EBITDA margin reached "11.6%" for the quarter. AI-related product revenue achieved its "12th consecutive quarter of triple-digit growth" and accounted for "35%" of external cloud revenue for the quarter. In e-commerce, the Alibaba e-commerce group recorded quarterly revenue of RMB 205.9 billion, representing an increase of 4% for the quarter.Within this group, "Revenue from China quick commerce business was RMB 53.3 billion, an increase of 45%" for the quarter. On the technology front, the company launched its next-generation Zhenwu M890 AI processor at commercial scale, and management noted that Zhenwu chips have served more than 650 customers on Alibaba Cloud.Looking ahead, management outlined a target to achieve "goal of RMB 100 billion in external cloud revenue by 2030" with "good visibility into achieving gross margin of 20%". In the short term, Eddie Wu forecast that the annualized revenue run rate for AI products "will approach USD 10 billion" next quarter, up from the current run rate of RMB 49.5 billion.For the MaaS business, the company remains confident in achieving its year-end target of "RMB 30 billion ARR by the end of the year", up from the current ARR which "has surpassed RMB 16 billion" as of August. In e-commerce, management expects the quick commerce business to achieve "overall profitability in FY '29" and believes it has the potential to eventually contribute "30%" of the platform's total GMV. Notable product announcements during the quarter included the commercial release of Q1 Work, a new AI productivity product for enterprises, and Accio Work, an AI agent for cross-border B2B merchants that attracted over 50,000 paying merchants shortly after its launch.📊 I can compile a comparison table of Alibaba's segment revenues and EBITDA margins across the last three quarters so you can see how these strategic shifts and segment realignments are playing out visually.
• 
  Tencent Holdings Limited (TCEHY) Announced Q2 2026 Earnings on August 12, 2026, Reporting "total revenue was RMB 204.8 billion, up 11% year-on-year." 20.08.2026 18dk

  Tencent Holdings Limited reported its financial results for the second quarter of 2026.Chief Financial Officer John Lo announced that "total revenue was RMB 204.8 billion, up 11% year-on-year" and "Gross profit was RMB 118.4 billion, up 13% year-on-year" for the quarter. On a reported basis for the quarter, "operating profit was RMB 67.3 billion, up 12% year-on-year". On a non-IFRS basis, "operating profit was RMB 75.6 billion, up 9% year-on-year" and "Net profit attributable to equity holders was RMB 68.4 billion, up 9% year-on-year" for the quarter.Executives noted that "Overall gross margin was 56%, up 3 percentage points year-on-year". On cash flow, "Free cash flow was negative RMB 13.8 billion" for the quarter, though John Lo explained that "Excluding the prepayments for compute procurement, our free cash flow would have been RMB 37.6 billion".Discussing strategic initiatives, the company emphasized its efforts to build an AI-enabled ecosystem.Chief Executive Officer Pony Ma stated that "we are making substantial progress toward building a new AI-empowered Tencent in terms of intelligence, applications and infrastructure". At the application level, executives highlighted that "our WorkBuddy AI office productivity service and CodeBuddy AI coding tool are achieving user growth and are the clear leaders in the field in China today". Regarding infrastructure risk management, President Martin Lau noted that "The AI investments we're making are mostly in AI infrastructure" and "in the worst case... we can choose to rent that infrastructure out at cost recovery or even better prices via Tencent Cloud if needed".The company highlighted several business and product milestones across its divisions. In social networking, the "combined MAU of Weixin and WeChat grew year-on-year and quarter-on-quarter to 1.4 billion" and "video accounts total time spent grew over 20% in the second quarter". In digital content, management announced that "In May, we completed the acquisition of Ximalaya" which "strengthened our audio content and unlocked new synergies with the ecosystem IPs". In games, "new game Roco Kingdom World ranked first by average DAU and by gross receipts among all new games released in China industry-wide this year" and "Delta Force achieved lifetime high average DAU in the second quarter".Looking ahead, management outlined future model releases and dynamic capital allocation.Martin Lau shared that "we're training a larger parameter model, Hunyuan 4, which we expect to release later this year". On capital returns, Chief Strategy Officer James Mitchell noted that "if we identify that there's superior returns from capital expenditure... then we'll steer more cash toward the capital expenditures than we had in the past and therefore, potentially less cash towards buybacks".
• 
  Sea Limited (SE) Announced Q2 2026 Earnings on August 11, 2026, Reporting "Sea generated $7.8 billion in revenue, up 48% year-on-year" 19.08.2026 20dk

  For the second quarter of 2026, Sea Limited reported total GAAP revenue of 7.8 billion dollars, representing an increase of 48 percent year-on-year.Total adjusted EBITDA for the quarter was over 917 million dollars, which was up by 11 percent year-on-year.The company's net income rose by 11 percent year-on-year to 458 million dollars for the second quarter.Looking at individual segments, Shopee achieved second-quarter GAAP revenue of 5.6 billion dollars, including GAAP marketplace revenue of 4.9 billion dollars, up 49 percent year-on-year, and GAAP product revenue of 0.7 billion dollars.Within Shopee's marketplace revenue, core marketplace revenue rose 66 percent year-on-year to 4.3 billion dollars.Shopee's adjusted EBITDA was 255 million dollars, representing a 12 percent increase year-on-year. In the Monee segment, non-GAAP revenue increased by 59 percent year-on-year to 1.4 billion dollars, while adjusted EBITDA grew 13 percent year-on-year to 288 million dollars.Garena bookings grew 15 percent year-on-year to 764 million dollars, generating GAAP revenue of 747 million dollars and an adjusted EBITDA of 430 million dollars.Management detailed several operational developments during the quarter, emphasizing their focus on user acquisition, logistics, and credit capabilities. In e-commerce, Shopee's gross orders grew 27 percent year-on-year to 4.2 billion, while GMV increased 28 percent year-on-year to 38.3 billion dollars.Average monthly new active buyers grew more than 35 percent year-on-year.Shopee expanded its instant and same-day delivery options, with order volumes using instant delivery growing around 80 percent year-on-year in initial markets.Additionally, the ShopeeVIP program exceeded 15 million members by the end of June 2026, with VIP members contributing 24 percent of GMV in Asia during the quarter. In the Monee credit segment, consumer and SME loans principal outstanding reached 11.1 billion dollars, up 62 percent year-on-year, which consists of 10 billion dollars on book and 1.1 billion dollars off book loans.Underwriting enhancements utilizing transformer-based risk models helped raise loan approval rates by around 10 percent.Active credit users grew around 34 percent year-on-year to over 40 million at the end of the quarter.Regarding future outlook and product announcements, Sea Limited expressed optimism that Shopee will achieve the milestone of 1 billion dollars in adjusted EBITDA for the full year of 2026.The company also reiterated its full-year e-commerce GMV growth outlook of around 25 percent, while factoring in potential foreign exchange headwinds.Achieving the full-year EBITDA target implies that absolute adjusted EBITDA in the second half of the year will be higher than the first half.Garena's Free Fire maintained over 100 million average daily active users, and its World Cup campaign song Booyah Ole generated over 350 million social media views.Garena also announced two new upcoming mobile games based on globally recognized intellectual property, Palworld Online and Monster Hunter Outlanders, with a target launch time for Monster Hunter Outlanders this year.🎧 I can generate a comedic podcast episode based on these numbers where our hosts debate Sea Limited's strategy and financial milestones.
• 
  CAVA Group, Inc. (CAVA) Announced Q2 2026 Earnings on August 11, 2026, Reporting "CAVA revenue in the second quarter of 2026 grew 31.3% year-over-year to $365.4 million" 19.08.2026 13dk

  CAVA Group, Inc. reported second quarter 2026 revenue of $365.4 million, representing a 31.3 percent increase year-over-year.Same-restaurant sales increased by 9 percent, driven by traffic growth of 5.3 percent.The company reported net income of $23 million and diluted EPS of $0.19 for the second quarter.Adjusted EBITDA for the second quarter was $54.7 million, representing a 30 percent increase over the second quarter of 2025. CAVA restaurant-level profit in the second quarter was $93.8 million, or 25.7 percent of revenue.Food, beverage, and packaging costs were 30 percent of revenue, which was higher than the second quarter of 2025 by 50 basis points.The company opened 17 net new restaurants during the second quarter, ending the period with 476 total locations.Key strategic updates included the rollout of pre-marinated chicken, which will be launching in restaurants throughout the balance of this year and next year to simplify restaurant execution and reduce back-of-house workload. CAVA also highlighted the development of its team members through its Flavor Your Future platform and the expansion of the Assistant General Manager position, which is now rolled out to 70 percent of its fleet. On the culinary front, the company launched its Pomegranate Glazed Salmon nationwide and concluded a market test for roasted garlic shrimp, while also introducing seasonal items such as Harissa BBQ Pita Chips and a house-made strawberry ginger drink.For the full year 2026, CAVA reiterated its guidance of 75 to 77 net new CAVA restaurant openings, same-restaurant sales of 4.5 percent to 6.5 percent, and a CAVA restaurant-level profit margin between 23.7 percent to 24.3 percent.Full-year adjusted EBITDA is expected to be between $181 million and $191 million.The guidance incorporates near-term impacts from broad consumer concerns surrounding the industry-wide Cyclospora outbreak, which initially caused same-restaurant sales to dip to flat to positive before recovering to mid-single digits.
• 
  Lowe's Companies, Inc. (LOW) Announced Q2 2026 Earnings on August 19, 2026, Reporting "sales of $26 billion" 19.08.2026 11dk

  Lowe's Companies, Inc. reported sales of $26 billion for the second quarter of fiscal 2026, which was up 8.3% from the second quarter of last year.Comparable sales for the second quarter rose 0.2%.The company delivered GAAP diluted earnings per share of $4.27 for the second quarter, and adjusted diluted earnings per share of $4.40 for the second quarter.Gross margin for the second quarter was 33%, down 80 basis points versus prior year adjusted gross margin, and SG&A was 17.2% of sales.The adjusted operating margin rate was 14% for the second quarter, down 62 basis points versus prior year adjusted operating margin.The company also generated $3.1 billion in free cash flow for the second quarter.CEO Marvin Ellison stated that "performance in Pro, online and home services helped to offset persistent macro pressures, softer DIY discretionary spend and the challenging weather during Memorial Day weekend." The company drove another quarter of growth in Pro, led by small and medium-sized Pro customers. In digital channels, Lowe's achieved online sales growth of 15.7% for the second quarter, aided by its online AI agent, Mylow, which has supported over 25 million questions.The company's MyLowe's Rewards loyalty program grew to more than 30 million members.Additionally, Ellison noted that the company's "perpetual productivity improvement initiatives, or PPI, continue to advance", including the deployment of self-watering plant tables in more than 700 stores.CFO Brandon Sink announced that the company is "updating our full year outlook in line with the bottom end of the previous guidance range" to reflect first half results, consumer demand, and housing trends.For the full year of fiscal 2026, Lowe's expects sales of approximately $92 billion, roughly flat comparable sales, an adjusted operating margin of approximately 11.6%, and adjusted diluted earnings per share of approximately $12.25.The company continues to expect full year capital expenditures of up to $2.5 billion.For the third quarter of fiscal 2026, the company expects comparable sales to be in line with its full year outlook and adjusted diluted earnings per share to be approximately 7% below prior year adjusted diluted earnings per share.In merchandising and partnerships, Lowe's completed the rollout of Cree lighting products exclusively in the home center channel, which includes a new 6-way bulb.Executive Vice President of Merchandising Bill Boltz noted that the company is welcoming Trager to its "already strong drilling lineup" as one of the leading brands in outdoor grilling, with products rolling out nationwide in select stores and online later this year.The company is also expanding its premium appliance assortment online, featuring brands like Bosch, KitchenAid, and LG Signature Cafe. In addition, the hard surfaces rollout of "Dow Tile" is scheduled to be completed in "hard services" in the third quarter.I can help turn these show notes into a custom visual graphic or draft some alternative promotional descriptions if you would like to explore other formats.
• 
  AECOM (ACM) Announced Q3 2026 Earnings on August 11, 2026, Reporting "full year NSR of approximately $7.3 billion" 19.08.2026 12dk

  AECOM reported financial results for the third quarter of fiscal 2026.The results included a "$337 million pretax charge" during the quarter that was "primarily the result of a delay in delivering a large construction management project." This project-related charge impacted third quarter net service revenue (NSR) and EBITDA by "$337 million," third quarter EPS by "$1.99," and third quarter cash flow included a "$185 million use." Americas NSR declined "29%" for the third quarter, and the Americas adjusted operating margin was "negative 16.1%," which was "18%" when excluding the construction management impact. In the International segment, third quarter NSR increased "4%," and adjusted operating margin was "14.3%." Despite the headwinds, AECOM delivered positive third quarter free cash flow of "$55 million." Excluding the project charge, adjusted EBITDA and EPS for the third quarter improved year-over-year by "5%" and "11%" respectively.Chief Executive Officer Troy Rudd and Chief Financial and Operations Officer Gaurav Kapoor detailed how the company is managing its legacy risk.Rudd noted that they "decided many years ago to no longer pursue design-build work for P3 clients in the construction management business." This project is expected to be complete "near the end of the second quarter of fiscal 2027." Meanwhile, the company's backlog grew "13% to a new all-time high" on a "1.6 book-to-burn across the business" for the third quarter, which includes a "1.8x in the Americas." President Lara Poloni highlighted strong market demand, noting that the pipeline with the Department of War, their "largest single client," increased by "approximately 30% in the quarter." In Canada, defense pipeline opportunities are up, and the government committed to "more than doubling that share to 5% of GDP by 2035." Additionally, Poloni reported that the Australia backlog was up "more than 40% year-over-year" and the U.K. business is progressing on the "Great Grid upgrade project."During the third quarter, AECOM secured notable awards, including "two of our largest recompetes ever" in the environment business, won in their own right without a joint venture.Post-quarter wins included a "10-year program management role" for a Canadian highway and bus transit project, as well as a "large rail project in Saudi Arabia." For full year fiscal 2026 guidance, AECOM now expects full year NSR of "approximately $7.3 billion," full year adjusted EBITDA of "$950 million," and full year adjusted EPS of "$4.05" at the midpoint of the ranges.Adjusted for the charge, they expect full year NSR of "$7.65 billion to $7.7 billion," and full year adjusted EBITDA and EPS of "$1.29 billion" and "$6" at the midpoint, which includes a raised expectation for full year adjusted EBITDA margin of "17.4%." Full year free cash flow is expected to be "$300 million." Looking to fiscal 2027, the remaining project completions will have a cash flow impact of "about $0.5 billion" in the first two quarters and year-on-year interest expense is estimated to be "$30 million to $35 million" higher.
• 
  Target Corporation (TGT) Announced Q2 2027 Earnings on August 19, 2026, Reporting "net sales of $26.5 billion" for the quarter 19.08.2026 20dk

  Target Corporation reported financial results for the second quarter of 2026.For the quarter, net sales of $26.5 billion were 5.3% higher than last year, with comparable sales increasing 3.8% driven by a 3.6% increase in traffic.The company reported a second quarter gross margin rate of 33.7%, which was 4.7 percentage points higher than last year and included a $994 million pretax benefit from IEEPA tariff refunds.Target delivered second quarter GAAP and adjusted EPS of $4.11 compared with $2.05 last year, which includes a $1.65 benefit from the tariff refunds.Management highlighted a massive volume of in-store layout and space transformations during the quarter, including resetting nearly half of the center store grocery assortment, reimagining the Fun 101 floor pad, and replacing nearly three-quarters of decorative accessories in home.Target saw strong growth from digital initiatives as Target Plus marketplace GMV grew more than 40% and gross billings from Roundel grew nearly 20% during the quarter.Key partnership events included the Love Shack Fancy partnership, which was the largest limited-time collaboration in the company's history, alongside a successful Pokemon collaboration.Target also announced the appointment of its new Chief AI Officer, Chandu Nair, and plans to introduce Target Beauty Studio to more than 600 stores next month.For its full year outlook, Target raised its guidance for full year net sales growth to a range around 5%, which is 1 percentage point higher than its prior outlook.The company also raised its full year EPS guidance range to $9.90 to $10.90, up from the prior range of $7.50 to $8.50.Additionally, Target expects its full year operating margin rate, excluding tariff refunds, to be in a range around 0.5 percentage point higher than the prior year's adjusted rate of 4.6%.Management continues to plan for approximately $5 billion of capital expenditures for the full year and expects to have the capacity to resume share repurchases in the back half of the year.🎙️ We can now write a comedy debate script between Morgan Moonshot and Bobby Beatdown based on these Q2 2027 results if you are ready to begin the podcast episode.
• 
  Hims & Hers Health, Inc. (HIMS) Announced Q2 2026 Earnings on August 10, 2026, Reporting "In the second quarter, revenue grew nearly 40% year-over-year to more than $753 million." 18.08.2026 21dk

  Hims & Hers Health, Inc. reported that in the second quarter, "revenue grew nearly 40% year-over-year to more than $753 million". U.S. operations generated "$622 million of revenue", representing "domestic revenue growth" of "16% year-over-year", while international revenue increased over 17-fold year-over-year to "$131 million". Adjusted EBITDA for the second quarter was "$60 million, representing an 8% adjusted EBITDA margin". These financial results exclude approximately "$81 million of nonrecurring costs" incurred during the quarter. GAAP net income for the second quarter was a loss of "$86 million", impacted by nonrecurring acquisition, restructuring, and legal costs.Gross margins in the second quarter were "64%, down approximately 6 points quarter-over-quarter on an adjusted basis". During the quarter, operating cash flow was "negative $36 million" and free cash flow was "negative $68 million".The company ended the quarter with "nearly 3 million subscribers" on its platform, having added "300,000 net new subscribers" in the second quarter.Management emphasized the company's investment in artificial intelligence, highlighting the phased rollout of a new AI-native care experience for Hers weight loss customers that has reduced nonclinical tasks handled by support teams by "nearly 50%", with AI answering "80% of their questions" to support their treatment journey. To accelerate these efforts, the company plans to open an "AI R&D lab in Menlo Park". In other specialties, testosterone is scaling "faster than any other specialty outside of weight loss", with plans to expand into "injectable and oral TRT" before the end of the year.Additionally, Hims & Hers is developing a "best-in-class peptides experience" and plans to offer access to allowed peptides such as sermorelin, glutathione, and NAD+ "before the end of the year". The company also closed its acquisition of Eucalyptus in June, which contributed "approximately $40 million of revenue in the second quarter". On the regulatory side, the Federal Trade Commission filed a complaint against the company on July 29, which the company intends to "defend vigorously".Looking ahead, management raised its "2026 revenue outlook to $3.1 billion to $3.3 billion", representing a "year-over-year increase of 32% to 41%". The company expects full year 2026 adjusted EBITDA to be "between $275 million and $325 million", representing "an adjusted EBITDA margin of 9% at the midpoint of both ranges". For the third quarter, the company anticipates revenue in the range of "$880 million to $900 million", representing "a year-over-year increase of approximately 47% to 50%", and adjusted EBITDA of "$75 million to $95 million". Management also expects its international business to generate "at least $600 million of revenue in 2026", while continuing to operate "at or near breakeven on an adjusted EBITDA basis".
• 
  GoDaddy Inc. (GDDY) Announced Q2 2026 Earnings on July 30, 2026, Reporting "total revenue for the quarter grew 7% to $1.3 billion" 11.08.2026 20dk

  GoDaddy Inc. reported its second quarter 2026 financial results, where "total revenue for the quarter grew 7% to $1.3 billion" and "ARR grew 6% to $4.4 billion". Within its segments, the "Applications and Commerce segment grew revenue at 11% to $515 million" with a "Segment EBITDA margin" of "46.8%", and "Core Platform grew 4% to $783 million" with a "Segment EBITDA margin" of "33.4%". The company also reported "strong free cash flow of $443 million" for the quarter and "trailing 12-month free cash flow of $1.73 billion". Additionally, "ARPU increased 9% to $250" and the company reduced its "fully diluted shares outstanding by another 7% this year to 127 million shares" through share repurchasing.Management focused heavily on its "AI transformation" and highlighted its central initiative, "Airo", which has been positioned as "an agentic operating system for small businesses". The "annualized bookings run rate has increased 5x to $50 million, versus the $10 million we shared just 1 quarter ago" as customer adoption exceeded expectations. To support this shift, the company is "deemphasizing a few products as stand-alone offerings and bringing their capabilities into Airo". GoDaddy is also focused on "reinventing our own operations to be AI native to improve customer outcomes and increase the speed of innovation", noting that "the 24-hour repeat contact rate for customers served by our voicebot" dropped "by over 16 percentage points in Q2".In product and infrastructure developments, GoDaddy launched the "GoDaddy Developer Platform, a new generation of domain APIs", and enhanced the "Agent Name Service standard, launched it in production and this quarter announced our intent to contribute it to the Linux Foundation". GoDaddy also "codeveloped the Agentic Resource Discovery specification, or ARD" alongside other technology firms.For its financial outlook, the company is "narrowing our full year 2026 revenue guidance to a range of $5.215 billion to $5.255 billion" and targeting Q3 revenue "within a range of $1.315 billion to $1.335 billion". GoDaddy also reaffirmed its "full year free cash flow target of approximately $1.8 billion" and its "full year margin target of over 33%".
• 
  Mitsui & Co., Ltd. (MITSY) Announced Q1 2027 Earnings on August 4, 2026, Reporting Record Q1 Profit of JPY 294.1 Billion 11.08.2026 20dk

  Mitsui & Co., Ltd. reported that core operating cash flow, or COCF, increased by JPY 64.6 billion year-on-year to JPY 280.9 billion for the first three months of the fiscal year.Profit for the first three months of the fiscal year increased by JPY 102.5 billion year-on-year to JPY 294.1 billion, reaching a record high for Q1. Revenue and profit margins were not explicitly reported in the transcript.Balance sheet metrics at the end of the quarter showed that total assets decreased by JPY 0.1 trillion from the end of March 2026 to JPY 20.7 trillion, while net interest-bearing debt increased by JPY 0.3 trillion from the end of March 2026 to JPY 4.4 trillion.Shareholder equity increased by JPY 0.2 trillion compared with the end of March 2026 to JPY 9 trillion, resulting in a net debt-to-equity ratio of 0.49x.Key business priorities and strategic initiatives discussed by management focused on capital allocation and shareholder returns under their Medium-term Management Plan 2029, or MTMP2029. CFO Makoto Tanaka announced that the company decided on a "share repurchase of JPY 200 billion to be completed by the end of January 2027" in order to improve capital efficiency.Tanaka stated that "all shares acquired through this repurchase will be canceled" to enhance per share value.The company updated its "shareholder returns as a percentage of COCF target to over 50%" to demonstrate commitment to shareholder returns.The JPY 200 billion share repurchase will be funded from the base case management allocation of JPY 2.4 trillion.Management noted that through their "middle game initiatives", they will "further strengthen our COCF base and enhance asset value" and "accelerate asset recycling to expand management allocation". Additionally, the Waitsia natural gas project in Australia, which began commercial production in the fiscal year ending March 2026, started to contribute to earnings this quarter. A solar power generation project in the United States was completed within budget and is expected to begin contributing to earnings in the second quarter.Regarding forward guidance, management did not provide updated full-year figures but indicated plans to revise forecasts soon. CFO Makoto Tanaka stated, "While closely monitoring development in the Middle East, we'll be revising our full year earnings forecast at an appropriate time based on the high level of progress against our business plan and our forward outlook". He also noted, "we intend to review our capital allocation in the second quarter, as we have done in the past in conjunction with our full year earnings forecast update". For notable transaction announcements, the company highlighted a proposal announced on July 22 to acquire the free-float shares of Penske Automotive Group, stating they "will provide an update at an appropriate timing depending on our future developments" as it was not included in the capital allocation slide at this time.I can help you build a structured spreadsheet tracker of Mitsui's segment-by-segment performance next if you want to explore the underlying business drivers in more detail.
• 
  Apple Inc. (AAPL) Announced Q3 2026 Earnings on July 30, 2026, Reporting "$109.4 billion in revenue, up 16% from a year ago and a June quarter record" 11.08.2026 11dk

  Apple reported June quarter results for fiscal year 2026, with CEO Tim Cook stating, "Today, Apple is proud to report $109.4 billion in revenue, up 16% from a year ago and a June quarter record." CFO Kevan Parekh reported that products revenue was $78.7 billion, up 18% year-over-year, and services revenue was $30.7 billion, up 12% year-over-year.Parekh stated that "Company gross margin was 50.1%, up 80 basis points sequentially," which "included a benefit from tariff refunds, which had a favorable impact of approximately 2 percentage points." Net income for the quarter was $29.8 billion, operating cash flow was $34.4 billion, and "Diluted earnings per share was $2.02, up 29% year-over-year."During the call, Cook highlighted the company's major technology initiatives, noting they "unveil the all-new Siri AI, a completely reimagined version of Siri that is profoundly capable, deeply personal and integrated seamlessly across our platforms." Cook also discussed a new partnership, stating, "Apple announced a new agreement with Broadcom to design and produce custom silicon components and cutting-edge wireless connectivity technologies" that is "expected to exceed $30 billion" as part of Apple's American Manufacturing program.Additionally, Cook announced that this was his final earnings call before transitioning his responsibilities, stating, "The transition is going seamlessly, and I am beyond excited for John to step into his new role and lead Apple into its next era."For the September quarter, Parekh provided forward guidance, stating, "We expect our September quarter total company revenue to grow between 9% and 11% year-over-year." This outlook is impacted by sequential foreign exchange headwinds and supply constraints affecting iPhone, Mac, and iPad.Cook noted that the "constraints were primarily driven by the availability of the advanced nodes that our SoCs are produced on." For other September quarter metrics, Parekh stated, "We expect gross margin to be between 47% and 48%," which "includes an expected benefit of approximately 1 percentage point related to tariff refunds," and "We expect operating expenses to be between $19.1 billion and $19.4 billion."
• 
  ServiceNow, Inc. (NOW) Announced Q2 2026 Earnings on July 22, 2026, Reporting "Q2 subscription revenues were $3.877 billion" 11.08.2026 20dk

  During the Q2 2026 earnings call, President and Chief Financial Officer Gina Mastantuono reported that Q2 subscription revenues were $3.877 billion, representing 23% year-over-year growth in constant currency.Remaining performance obligations, or RPO, ended the quarter at approximately $29 billion, representing 22% year-over-year constant currency growth.Current RPO was $13.2 billion, representing 21.5% year-over-year constant currency growth.Mastantuono also stated that the non-GAAP operating margin was 29.5%, and the free cash flow margin was 16% for the quarter.The company's renewal rate was 98% in Q2, and ServiceNow AI ACV crossed over $1 billion.Chief Executive Officer Bill McDermott highlighted that ServiceNow is positioning itself as an enterprise and cybersecurity leader. McDermott noted that their risk and security business is a 10-figure cybersecurity business and is the fastest growing of the top 10 cyber companies in the enterprise. To strengthen this area, the company has integrated Armis, which tracks 7 billion devices in real time, and Veza, which maps access across human, machine and AI identities.Additionally, McDermott reported that 50% of net new business is already non-seat-based.The company also highlighted EmployeeWorks, which combines Moveworks conversational AI with ServiceNow workflows, noting that EmployeeWorks deal volume grew over 150% quarter-over-quarter.For the third quarter of 2026, the company expects subscription revenues between $3.975 billion and $3.980 billion, representing 20% year-over-year growth on a constant currency basis, with expected current RPO growth of 20% on a constant currency basis and an operating margin of 31%.For the full year 2026, Mastantuono raised subscription revenue guidance by $15 million at the midpoint to between $15.755 billion and $15.770 billion, representing 21% year-over-year growth on a constant currency basis.For the full year, the company expects a subscription gross margin of 81%, an operating margin of 31.5%, and a free cash flow margin of 35%.In product and partnership announcements, McDermott highlighted several developments, including the deeper integration of ServiceNow AI Control Tower and Microsoft Agent 365. He also noted extended Agentic AI governance from desktops to data centers with Project Arc, new agents secured by the NVIDIA OpenShell Runtime and governed by ServiceNow AI Control Tower, and enhanced collaboration between ServiceNow's AI native FDEs and industry-led Accenture FDEs. Furthermore, the company discussed an upcoming business model evolution featuring a conversational service desk experience with no tickets and AI-coded automation, which is currently in beta with several customers.
• 
  Alphabet Inc. (GOOGL) Announced Q2 2026 Earnings on July 22, 2026, Reporting "Consolidated revenues were $119.8 billion" 11.08.2026 19dk

  Alphabet Inc. reported its second quarter 2026 results, with executive Anat Ashkenazi stating that "Consolidated revenues were $119.8 billion" for the quarter, up 24 percent year-over-year.Operating income was $40.8 billion and the operating margin was 34 percent for the second quarter.Net income and earnings per share increased significantly, primarily due to 98 billion dollars in other income and expenses from unrealized gains in the company's equity securities portfolio.Within segments, Google Services revenues reached 94.5 billion dollars, driven by Search and subscriptions, while Google Cloud revenues rose 82 percent to 24.8 billion dollars for the quarter.The company reported a negative free cash flow of 5.9 billion dollars, impacted by 44.9 billion dollars in second-quarter capital expenditures.CEO Sundar Pichai highlighted momentum in artificial intelligence, stating that "our AI investments are redefining what's possible across every part of our business". In search, the company merged AI Overviews and AI Mode into a single experience, with AI Mode surpassing 1 billion monthly active users.The Gemini app reached 950 million monthly active users, and more than 1.7 billion unique viewers watched World Cup-related videos on YouTube.Google Cloud backlog expanded by over 50 billion dollars sequentially to 514 billion dollars, driven by strong enterprise demand for Gemini Enterprise, which is now used by nearly 90 percent of the Fortune 100.Additionally, Alphabet delivered TPU systems to customer data centers for the first time in the second quarter, and Waymo introduced its newest sixth-generation driver vehicle, Ojai, to public riders.In partnerships and ecosystem developments, Target and Steve Madden went live with the open-source universal commerce protocol, while Booking Holdings expanded its multiyear cloud commitment.For future expectations, management updated its full year 2026 capital expenditures guidance range to 195 billion to 205 billion dollars, up from the previous estimate of 180 billion to 190 billion dollars, to accelerate capacity delivery.Executive Anat Ashkenazi stated that the company expects capital expenditures to "increase significantly in 2027" compared to 2026.The company also anticipates a slight foreign exchange headwind to consolidated revenue in the third quarter. To bridge near-term capacity constraints, Google Cloud plans to utilize third-party capacity in the third quarter, which is expected to create modest margin pressure, alongside near-term integration headwinds from the Wiz acquisition.
• 
  Amazon.com, Inc. (AMZN) Announced Q2 2026 Earnings on July 30, 2026, Reporting $200.6 billion in revenue for the quarter. 11.08.2026 22dk

  Amazon.com, Inc. reported worldwide revenue of $200.6 billion for the second quarter of 2026, which represents a 20% increase year-over-year, or a 20% increase excluding the impact of foreign exchange.Worldwide operating income for the quarter was $27.5 billion. In the segment results, North America revenue was $116.2 billion, up 16% year-over-year, with an operating income of $9.1 billion and an operating margin of 7.9%.International segment revenue was $42.2 billion, up 15% year-over-year excluding the impact of foreign exchange, with an operating income of $1.7 billion and an operating margin of 4.1%.The AWS segment reported revenue of $42.2 billion, up 36.7% year-over-year, with AWS operating income reaching $16.6 billion for the quarter.Cash capital expenditures were $53.1 billion in the second quarter of 2026, primarily relating to AWS and generative AI.Management shared major progress on cloud performance and tech infrastructure, with CEO Andy Jassy noting that AWS is now a "$169 billion annualized revenue run rate business." Jassy also highlighted that Amazon's custom chips business has achieved an annual revenue run rate of over $25 billion, which matches the company's AI revenue run rate of over $25 billion. In physical retail operations, the number of monthly active perishables customers grew over 50% since the start of the year.For capital planning, the company plans to invest approximately $220 billion in cash capital expenditures in 2026, up from their prior estimate of about $200 billion due to the higher cost of memory.Additionally, the company stated that Amazon Leo is close to 400 satellites in orbit, which is enough to begin initial satellite internet service this year.Several new agentic AI products and updates were highlighted, including Bedrock AgentCore, AWS Continuum, and Amazon Quick. In terms of major infrastructure partnerships, Jassy confirmed that Anthropic and OpenAI have made multiyear, multi-gigawatt commitments to Trainium, and that Graviton is used by 98% of the top 1,000 EC2 customers.Looking forward to the third quarter of 2026, management expects net sales to be between $197 billion and $202 billion, and operating income is expected to be between $22.5 billion and $26.5 billion.
• 
  Spotify Technology S.A. (SPOT) Announced Q2 2026 Earnings on August 4, 2026, Reporting "Total revenue was EUR 4.8 billion" 11.08.2026 19dk

  Spotify Technology S.A. reported financial results for the second quarter of 2026.Management reported that "Total revenue was EUR 4.8 billion" for the quarter, growing 15% year-over-year.The company's "operating income of EUR 655 million" was EUR 25 million above guidance, delivering an "operating margin of 13.7%" for the quarter.Additionally, "free cash flow was EUR 797 million in the quarter" and "Gross margin hit a record of 33.4%". On the user side, the company ended the quarter with 777 million monthly active users and surpassed its subscriber guidance, adding 7 million net subscribers to reach 300 million subscribers for the first time.To turn monthly active user outperformance into revenue, management discussed a strategy of adjusting product optimization and ad load in select emerging markets, noting that this carefully increases friction in the free service to drive higher user conversion down the line. In addition, the company's automated sales channels represented nearly 40% of ad-supported revenue in the second quarter.The company announced a licensing agreement with Merlin, the digital licensing partner for independent labels, to make their catalogs available for its music remix and cover product.Furthermore, the company highlighted the success of its ticketing feature, Reserved, which launched in the United States with Live Nation and has supported multiple tours with nearly 100,000 tickets reserved through Spotify.Management emphasized their investments in AI-driven personalization, noting that AI-powered experiences like DJ are used by roughly 1/4 of active users.They discussed their Large Taste Model, which learns from 3.4 trillion daily user events and has improved retention metrics.Features like SongDNA have been used by more than 100 million subscribers, and the add-on Audiobooks+ passed $100 million in annual recurring revenue. On the engineering side, the company utilizes internal AI tools Honk and Chirp to increase developer productivity, with revenue per employee on track to double while headcount remains flat.For the third quarter of 2026, Spotify provided forward guidance forecasting monthly active users of 788 million and subscribers of 305 million, representing net additions of 5 million subscribers.The company is forecasting total revenue of approximately EUR 5 billion and guiding to operating income of EUR 670 million.Management anticipates a third quarter gross margin of 32.9%.While the company does not provide full year guidance for gross margin or operating margin, it expects both metrics to improve in 2026 on a full year basis, along with meaningful year-over-year growth in free cash flow.
• 
  Tesla, Inc. (TSLA) Announced Q2 2026 Earnings on July 22, 2026, Reporting net income was "positively impacted by a mark-to-market gain of $1 billion on our SpaceX holdings" for the quarter 11.08.2026 18dk

  During the second quarter of 2026, Tesla achieved record deliveries, with sequential growth across the Americas, APAC, and EMEA of 60%, 27%, and 12%, respectively.Automotive gross margins, excluding regulatory credits, declined sequentially from 19.2% to 16.3%, though management noted margins would have been approximately flat when controlling for a $230 million benefit from the prior quarter. In the energy storage business, Q2 deployments reached 13.5 gigawatt hours, representing a "53% sequential increase," while energy gross margins fell from 39.5% to 20.4% in the quarter.Free cash flow for the quarter was negative, driven by Capital Expenditures that more than doubled sequentially.Net income for the quarter was "positively impacted by a mark-to-market gain of $1 billion on our SpaceX holdings, which was offset by losses on FX of approximately $300 million and on Bitcoin of about $100 million."For its Full Self-Driving product, Tesla's attach rates continued to rise, reaching "nearly 1.5 million paid customers globally," consisting of "55% upfront purchases and the remaining 45% is subscriptions." The Tesla Robotaxi fleet expanded to a total of 7 markets in the United States, having driven "more than 380,000 miles of unsupervised robotaxi, now across 6 cities in 2 different states" with "0 notable incidents." Production has commenced for the Cybercab, while the Optimus production line is being built in Fremont "in place of what used to be the Model S, X production." CEO Elon Musk stated that "Optimus will follow the sort of normal S-curve of a manufacturing ramp, but the initial portion of the S-curve will be quite flat and long." Additionally, the company began production of the Tesla Semi truck and is preparing to begin production of "Megapack 3" and solar cells.Looking ahead, Tesla continues to expect Capital Expenditures for this year to be "more than $25 billion," with CapEx projected to grow for the next 2 or 3 years to expand the robotaxi fleet, Optimus production capacity, and other infrastructure. To accelerate these investments, Tesla is securing debt facilities to "borrow up to $30 billion." The company plans to announce a location for its "Terafab" chip initiative soon to support Optimus, which requires solving "memory, logic and packaging" to prevent AI chip constraints.Tesla is also deploying a "Megapod" design to scale AI compute using "disaggregated electricity production." On the semiconductor roadmap, Tesla expects an upgraded AI4 chip and the new AI5 chip to reach volume production "around the middle of next year," and is designing the "Tesla AI6 chip."📊 I can generate an updated financial summary table for Q2 2026 comparing these key metrics to Q1 2026, or create a visual chart showing the sequential trend of Tesla's automotive vs. energy margins.
• 
  Coupang, Inc. (CPNG) Announced Q2 2026 Earnings on August 4, 2026, Reporting "total net revenues of $8.9 billion" for the quarter. 11.08.2026 19dk

  Coupang, Inc. reported consolidated financial results for the second quarter of 2026.Total net revenues for the quarter were $8.9 billion, representing growth of 4 percent on a reported basis and 10 percent in constant currency.Consolidated gross profit for the quarter was $2.5 billion, with a gross profit margin of 28.2 percent, which contracted 188 basis points year-over-year but expanded 115 basis points quarter-over-quarter.Operating loss for the quarter was $556 million, which included $410 million in administrative fines recently imposed by Korean regulatory authorities.Excluding the fines, the adjusted operating loss for the quarter was approximately $146 million.Net loss attributable to Coupang's stockholders for the quarter was $570 million, or approximately $160 million excluding the fines, resulting in a diluted loss per share for the quarter of $0.32, or approximately $0.09 excluding the fines.Consolidated adjusted EBITDA for the quarter, which excludes the fines, was $163 million with an adjusted EBITDA margin of 1.8 percent. On a trailing 12-month basis, the company generated operating cash flow of $1.4 billion and free cash flow of $105 million.Additionally, Coupang repurchased an additional 23 million shares of its Class A common stock during the quarter for approximately $459 million.In terms of segment performance and business updates, Product Commerce net revenues reached $7.4 billion for the quarter, growing 1 percent on a reported basis and 8 percent in constant currency.Segment active customers for the quarter grew 3 percent year-over-year to 24.7 million.Management noted that total WOW membership has recovered and now "exceeds its levels before the incident" following the prior year's data disruption.Developing Offerings segment net revenue was $1.4 billion for the quarter, growing 20 percent on a reported basis and 24 percent in constant currency.This segment's adjusted EBITDA losses for the quarter were $219 million, showing an improvement of $110 million compared to the previous quarter. In Taiwan, Coupang continues to expand its end-to-end network, delivering the vast majority of shipments next-day and launching its Dawn Delivery experience in its first neighborhood.For on-demand delivery, the company's food delivery service Eats in Korea and Rocket Now in Japan are now "sustainable on a combined basis". Management also addressed a July fire at a fulfillment center in Korea, estimating the total carrying value of owned assets and seller obligations at "approximately $246 million" but stating that it has not had a significant impact on revenue or customer demand.Looking ahead, Coupang provided forward guidance for the third quarter of 2026 and the full year.The company expects consolidated constant currency revenue growth of 8% to 9% for the third quarter of 2026, with year-over-year comparisons pressured by the timing of the Chuseok holiday season in Korea. On margins, Coupang anticipates a consolidated year-over-year adjusted EBITDA margin contraction of 300 to 400 basis points in the third quarter of 2026 due to weather-related seasonality and holiday timing.Over the longer term, management expects Product Commerce adjusted EBITDA margins to return to pre-incident levels by mid-2027.For the Developing Offerings segment, Coupang continues to estimate full year adjusted EBITDA losses of between $950 million and $1 billion for 2026, primarily driven by long-term investments in Taiwan.🎧 We can turn these Q2 results into a polished audio overview debating Coupang's post-incident recovery efforts and the trajectory of their Taiwan investments.
• 
  Novo Nordisk A/S (NVO) Announced Q2 2026 Earnings on August 5, 2026, Reporting "adjusted sales increased by 7% at constant exchange rates, reaching DKK 78.5 billion" for the Quarter 10.08.2026 22dk

  Novo Nordisk A/S reported its financial results for the second quarter of 2026, with Chief Financial Officer Karsten Knudsen stating that "adjusted sales increased by 7% at constant exchange rates, reaching DKK 78.5 billion" for the quarter.Knudsen noted that the adjusted gross margin for the second quarter was realized at 78.2 percent, compared to 82.7 percent in the second quarter of 2025.This gross margin decline reflected "lower realized prices, onetime cost of around DKK 3 billion related to rightsizing of manufacturing capacity agreements as well as a negative currency impact." Adjusted operating profit "increased by 11% at constant exchange rates" for the quarter.Additionally, the company is ahead of schedule to deliver DKK 8 billion in savings from its company-wide transformation announced back in the third quarter of 2025, with its workforce decreasing by almost 12,000 employees over the past 12 months to around 66,700 full-time employees.Operationally, CEO Mike Doustdar highlighted that Novo Nordisk is "serving more than 46 million people living with obesity and diabetes" and "treating almost 70% more people living with obesity compared to just a year ago." The rollout of the oral Wegovy Pill has expanded, with Doustdar reporting that "we now have around 1.5 million people on the Wegovy Pill worldwide." In the United States, Jamey Millar noted that the Wegovy Pill "captured around 90% of the oral obesity medication market." In research and development, Martin Lange shared results from the Phase III ZEUS cardiovascular outcome trial of ziltivekimab, explaining that while the treatment "did not translate into MACE reductions with a hazard ratio of 0.99," the company remains committed to cardiovascular disease research.Lange also noted that in the REIMAGINE 4 trial, "CagriSema demonstrated non-inferiority versus tirzepatide for weight reduction but not for A1c reduction" at 68 weeks.For the full year 2026 guidance, Karsten Knudsen stated that "we have raised our guidance again." The company now expects adjusted sales growth to be "0% to minus 6% at constant exchange rates" for the full year 2026.This outlook reflects expectations for sales growth in International Operations and "expectations for sales decline within U.S. operations." Adjusted operating profit growth for the full year 2026 is also expected to be "0% to minus 6% at constant exchange rates," reflecting the improved sales outlook combined with targeted investments in research and development and commercial opportunities.🎙️ I can help you draft a funny and detailed podcast script with Morgan Moonshot and Bobby Beatdown based on these latest results if you want to move forward with the comedy show concept.