Key facts
- Mastercard's third-quarter profit increased by 18% to $3.9 billion.
- Mastercard's net revenue rose 17% to $8.6 billion.
- Bombardier's revenue grew 6% to $2.15 billion in its second quarter.
- Bombardier reported positive free cash flow of $228 million.
- KKR attracted $34 billion in new capital.
- Rivian raised its full-year delivery forecast.
- Starbucks shares rose 5.6% in premarket trading.
- Reddit expects third-quarter revenue to exceed Wall Street estimates.
- Corteva reported $2.30 per share in its second quarter, beating estimates of $2.22 per share.
- Hershey's net sales increased 6.6% to $2.79 billion.
- Apple's stock dropped 7% after its earnings report.
- Apple's services revenue was $30.74 billion for its fiscal third quarter.
Mastercard reported a significant 18% increase in third-quarter profit, reaching $3.9 billion and surpassing analyst expectations. This growth was fueled by resilient consumer spending and a notable 15% rise in cross-border transaction volumes, contributing to a 17% increase in net revenue to $8.6 billion.
Bombardier exceeded second-quarter profit estimates with revenue climbing 6% to $2.15 billion. The company achieved positive free cash flow of $228 million, largely due to strong demand for private jets. Despite these positive financial indicators, Bombardier's shares declined because of a decrease in aircraft deliveries.
KKR's second-quarter profit surged past market expectations, propelled by a 25.5% rise in asset management fees and successful investment divestments. The firm achieved its strongest quarter for converting investments into cash and attracted $34 billion in new capital.
Rivian Automotive reported quarterly revenue that surpassed estimates and revised its full-year delivery forecast upward. This optimism stems from strong customer interest in its new R2 SUV and expansion in its software and services business.
Starbucks shares experienced a 5.6% increase in premarket trading following the announcement of its fourth consecutive quarter of comparable sales growth. The company also raised its annual targets, indicating progress in CEO Brian Niccol's turnaround strategy.
Reddit anticipates its third-quarter revenue will surpass Wall Street estimates, attributing this projection to the success of its AI-powered advertising tools which are drawing in new advertisers. The social media platform reported robust second-quarter revenue growth and expects strong adjusted EBITDA.
Corteva surpassed Wall Street's second-quarter profit expectations, reporting $2.30 per share. This performance was driven by strong sales in its seeds and crop protection segments, exceeding the average analyst estimate of $2.22 per share.
Hershey exceeded second-quarter sales and profit expectations, with net sales increasing by 6.6% to $2.79 billion. This growth was attributed to higher prices and consistent demand for its confectionery products. The company reaffirmed its full-year 2026 financial outlook.
Laboratory operator Labcorp raised its annual profit forecast and reported better-than-expected second-quarter results. This positive performance is attributed to steady demand for diagnostic testing and growth in its drug-development services business. However, Labcorp shares fell approximately 6% in premarket trading.
Apple reported record quarterly revenue and profits that exceeded expectations, with strong iPhone and Mac sales. However, the company's forecast for the current quarter fell short of analyst estimates, causing its share price to drop. Specifically, Apple's stock fell 7% after hours due to lower-than-expected revenue from China, its services division, and iPad sales. Apple's services revenue for its fiscal third quarter was $30.74 billion, missing analyst expectations, with a slowdown in mobile gaming, App Store changes, and foreign exchange headwinds cited as contributing factors.
Sony raised its full-year earnings forecast following a 40% jump in first-quarter profit, primarily driven by its gaming and image sensor businesses. Favorable exchange rates and increased sales of its image sensors also contributed to the improved outlook.
Blue Owl reported an increase in second-quarter profit, with assets under management reaching $319 billion, driven by fee-related earnings. The alternative asset manager did experience outflows from its credit business, but growth in areas such as data centers helped to offset these losses.