Company results Nov 2–8, 2026: Apple, Saudi Arabian Oil, Berkshire Hathaway and 196 more
What Apple, Saudi Arabian Oil, Berkshire Hathaway, Advanced Micro Devices, Palantir Technologies, Toyota Motor reported: revenue, profit, cash flow, what the revenue consists of and what analysts did.
Put together automatically by hedger: figures from Yahoo Finance and filings, the revenue split from filings on SEC EDGAR, quotes from the analyst call's transcript (Alpha Vantage). Not investment advice.
| Company | Day | Revenue | On the year | FCF | EPS | Against estimate | Stock the day after |
|---|---|---|---|---|---|---|---|
| AAPL Apple | 2. 11. | USD 114.5bn | +11.7% | USD 25.9bn | 2.10 USD | +5.5% | −3.7% |
| 2222.SR Saudi Arabian Oil | 2. 11. | SAR 526.8bn | — | SAR 105.8bn | 0.49 SAR | +14.0% | +0.9% |
| BRK-B Berkshire Hathaway | 7. 11. | — | — | — | 5.94 USD | −3.3% | — |
| AMD Advanced Micro Devices | 3. 11. | USD 13.4bn | +44.7% | USD 554m | 2.09 USD | +7.2% | +4.7% |
| PLTR Palantir Technologies | 2. 11. | USD 2.3bn | +95.9% | USD 1.2bn | 0.44 USD | +7.3% | −4.7% |
| TM Toyota Motor | 4. 11. | USD 13,437.1bn | +8.6% | USD −162.4bn | 4.12 USD | +50.4% | +13.0% |
| AMGN Amgen | 3. 11. | USD 10.4bn | +8.5% | USD 3.7bn | 6.45 USD | +11.6% | +2.8% |
| ANET Arista Networks | 3. 11. | USD 3.7bn | +58.5% | USD 1.1bn | 1.20 USD | +11.1% | +8.7% |
| MCD McDonald's | 4. 11. | USD 7.2bn | +1.1% | USD 2.1bn | 3.57 USD | +5.6% | +5.7% |
| SHOP Shopify | 3. 11. | USD 3.7bn | +31.6% | USD 717m | 0.49 USD | +6.5% | −2.0% |
| ARM Arm Holdings | 4. 11. | USD 1.4bn | +27.1% | USD 130m | 0.52 USD | +8.3% | −17.7% |
| NVO Novo Nordisk A/S | 4. 11. | USD 79.2bn | +5.6% | USD 28.0bn | 5.79 USD | +25.3% | +0.3% |
| QCOM QUALCOMM | 4. 11. | USD 10.3bn | −8.4% | USD 1.8bn | 2.17 USD | +0.5% | −4.7% |
| PFE Pfizer | 3. 11. | USD 16.6bn | −0.4% | USD 4.8bn | 0.87 USD | +17.6% | +0.4% |
| COP ConocoPhillips | 5. 11. | USD 19.4bn | +29.3% | USD 4.1bn | 3.27 USD | +7.2% | −0.5% |
| SONY Sony Group | 5. 11. | USD 3,429.4bn | +10.3% | USD 318.6bn | 0.48 USD | +26.3% | +4.0% |
| D05.SI DBS Group Holdings | 5. 11. | SGD 5.8bn | — | — | — | — | −1.5% |
| UBER Uber Technologies | 4. 11. | USD 14.8bn | +9.6% | USD 2.5bn | 0.25 USD | −72.2% | +3.3% |
| DTE.DE Deutsche Telekom | 5. 11. | — | — | — | — | — | −3.2% |
| VRTX Vertex Pharmaceuticals | 2. 11. | USD 3.4bn | +11.8% | USD 546m | 4.76 USD | −0.4% | −5.0% |
| BHARTIARTL.NS Bharti Airtel | 5. 11. | INR 608.8bn | — | INR 147.9bn | 14.44 INR | −4.7% | +1.9% |
| ETN Eaton | 3. 11. | USD 8.9bn | +28.0% | USD 1.0bn | 3.68 USD | +3.7% | −3.5% |
| APP AppLovin | 4. 11. | USD 2.2bn | +55.5% | USD 1.4bn | 4.30 USD | +6.7% | +45.0% |
| MCK McKesson | 4. 11. | USD 111.0bn | +7.6% | USD 2.9bn | 11.68 USD | +8.7% | +7.2% |
| ISP.MI Intesa Sanpaolo S.p.A. | 3. 11. | — | — | — | 0.15 EUR | +0.0% | +5.5% |
| BKNG Booking Holdings | 3. 11. | USD 8.9bn | −1.3% | USD 1.1bn | 4.66 USD | +3.6% | +11.2% |
| 8058.T Mitsubishi | 4. 11. | — | — | — | — | — | +10.5% |
| PH Parker-Hannifin | 5. 11. | USD 6.0bn | +17.9% | USD 643m | 8.90 USD | +8.9% | +0.8% |
| ABNB Airbnb | 5. 11. | — | — | — | 3.16 USD | +10.9% | +7.7% |
| SO The Southern | 5. 11. | USD 8.8bn | +13.0% | USD 39m | 1.94 USD | +13.5% | −0.8% |
| CVS CVS Health | 4. 11. | USD 108.4bn | +5.4% | USD 3.9bn | 2.09 USD | +26.7% | −11.0% |
| MAR Marriott International | 2. 11. | USD 7.0bn | +8.0% | USD 1.3bn | 3.02 USD | +6.0% | +4.3% |
| ENB Enbridge | 6. 11. | — | — | — | 0.49 USD | +0.0% | — |
| MRNA Moderna | 6. 11. | — | — | — | 0.38 USD | −130.4% | — |
| SBIN.NS State Bank of India | 4. 11. | INR 706.0bn | +4.6% | — | — | — | +3.7% |
| 8001.T ITOCHU | 4. 11. | — | — | — | — | — | +5.5% |
| MPC Marathon Petroleum | 3. 11. | USD 56.0bn | +61.0% | USD 9.6bn | 26.93 USD | +3.6% | −8.8% |
| DUK Duke Energy | 5. 11. | USD 9.1bn | +6.6% | USD −709m | 1.99 USD | +7.0% | −1.4% |
| CNQ Canadian Natural Resources | 5. 11. | — | — | — | 1.65 USD | +10.7% | −2.2% |
| O39.SI Oversea-Chinese Banking | 5. 11. | — | — | — | 0.45 SGD | +2.3% | −0.4% |
Largest companies first.
In the last 6 weeks 579 followed companies reported with an estimate on record, 76% of them beat on EPS; 78% in the same weeks a year ago. Who reports this week →
Other companies that reported: NET, EMR, MNST, WBC.AX, NAB.AX, SPG, 8031.T, MSI, BAM, 9432.T, NGG, ANZ.AX, ITUB, WMB, SU, DASH, WBD, CI, MELI, EOG, RACE, DHL.DE, MFC, ENGI.PA, APO, APD, GWW, MQG.AX, KMB, TDG, 9433.T, ET, 7011.T, DDOG, TRP, COR, 7974.T, ALL, CAH, 0388.HK, WPM, MET, CMI, AFL, BAYN.DE, 1211.SR, EW, BDX, 373220.KS, GWO.TO, TRGP, MPLX, O, SHL.DE, SREN.SW, IDXX, CSU.TO, ETR, AME, MDLN, HUM, XYZ, SRE, VMRK, 8002.T, FANG, KDP, LITE, DVN, WAT, ED, YUM, VST, ROK, LYV, PRU, AIG, EL, COHR, SYY, MLM, PEG, TKO, MTD, FISV, ADM, ZTS, MCHP, IRM, AEE, EXPE, ATO, KHC, CPAY, DTE, ECHO, PPL, ES, VRSK, TPR, GPN, AXON, FOX, ON, STE, Q, EXPD, VTRS, RL, L, BR, PTC, CHTR, AMCR, IFF, EVRG, ZBH, SBAC, CDW, DD, SWKS, SMCI, TPL, NRG, CF, RVTY, BEN, BALL, HST, SWK, LDOS, CRL, NWS, SOLV, ZBRA, FICO, AIZ, APA, FIS, DOC, REG, UDR, PNW, TRMB, CLX, JKHY, IT, AKAM, ALB, TECH, AES, PODD, CPT, HSIC, WYNN, APTV, MOS, RHM.DE, GRAB.
AAPL – Apple (Mon Nov 2)
| Revenue | USD 114.5bn | +11.7% on the year | | Gross profit | USD 54.8bn | margin 47.9% (a year ago 47.2%) | | Operating profit | USD 35.6bn | margin 31.1% (a year ago 31.6%) | | Net profit | USD 30.7bn | a year ago USD 27.5bn | | Free cash flow | USD 25.9bn | a year ago USD 26.5bn | | Capital spending | USD 2.2bn | a year ago USD 3.2bn | | Research and development | USD 11.7bn | a year ago USD 8.9bn | | To shareholders | USD 28.2bn | buybacks USD 24.3bn, dividends USD 3.9bn | | Cash | USD 56.7bn | debt USD 80.1bn |
EPS 2.10 USD against 1.99 USD expected (+5.5%). The stock −3.7% the day after the results against the day before. For this quarter analysts expect revenue of USD 156.5bn (+8.8% on the year). EPS estimate: USD 2.92 for this quarter, USD 9.41 for this year.
What the revenue consists of
| iPhone | USD 254.1bn | 53.1% | +21.2% | | Service | USD 123.3bn | 25.8% | +13.0% | | Mac | USD 37.9bn | 7.9% | +12.5% | | Wearables Homeand Accessories | USD 35.6bn | 7.4% | −0.3% | | iPad | USD 27.9bn | 5.8% | −0.3% |
Where the revenue came from
| Other Countries | USD 228.7bn | 47.8% | +14.4% | | US | USD 167.7bn | 35.0% | +10.5% | | CN | USD 82.4bn | 17.2% | +28.0% |
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 114.5bn | USD 35.6bn | USD 25.9bn |
| 2Q 2026 | USD 109.4bn | USD 35.7bn | USD 31.9bn |
| 1Q 2026 | USD 111.2bn | USD 35.9bn | USD 26.7bn |
| 4Q 2025 | USD 143.8bn | USD 50.9bn | USD 51.6bn |
| 3Q 2025 | USD 102.5bn | USD 32.4bn | USD 26.5bn |
Analysts after the report
Since the report 11 analyst firms changed or repeated their view: 6 raised the price target, 3 cut it. The average target is USD 339 (range 250–405) with the price at USD 342. Ratings: 24 buy, 14 hold, 6 sell.
| Firm | Rating | Price target |
|---|---|---|
| Bernstein | Buy | 370 → 380 USD |
| JP Morgan | Overweight | 360 → 355 USD |
| UBS | Neutral | 296 → 340 USD |
| Argus Research | Buy | 375 → 400 USD |
| Barclays | Underweight | 245 → 261 USD |
| TD Cowen | Buy | 400 → 390 USD |
| DA Davidson | Neutral | 270 → 295 USD |
| Keybanc | Underweight | 250 USD |
Press release and results on SEC EDGAR ↗
2222.SR – Saudi Arabian Oil (Mon Nov 2)
| Revenue | SAR 526.8bn | — on the year | | Gross profit | SAR 246.3bn | margin 46.7% | | Operating profit | SAR 197.3bn | margin 37.5% | | Net profit | SAR 137.4bn | a year ago — | | Free cash flow | SAR 105.8bn | a year ago — | | Capital spending | SAR 39.5bn | a year ago — | | Research and development | SAR 1.2bn | a year ago — | | To shareholders | SAR 82.1bn | buybacks SAR 0m, dividends SAR 82.1bn | | Cash | SAR 247.1bn | debt SAR 360.0bn |
EPS 0.49 SAR against 0.43 SAR expected (+14.0%). The stock +0.9% the day after the results against the day before. For this quarter analysts expect revenue of SAR 478.1bn (+14.9% on the year). EPS estimate: SAR 0.51 for this quarter, SAR 2.00 for this year.
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | SAR 526.8bn | SAR 197.3bn | SAR 105.8bn |
| 2Q 2026 | SAR 521.8bn | SAR 216.8bn | SAR 46.0bn |
| 1Q 2026 | SAR 467.2bn | SAR 222.8bn | SAR 69.9bn |
| 4Q 2025 | SAR 416.3bn | SAR 187.3bn | SAR 103.0bn |
Analysts after the report
The average target is SAR 30.33 (range 27.00–35.00) with the price at SAR 26.16. Ratings: 10 buy, 8 hold, 0 sell.
BRK-B – Berkshire Hathaway (Sat Nov 7)
EPS 5.94 USD against 6.14 USD expected (−3.3%). The stock — the day after the results against the day before. For this quarter analysts expect revenue of USD 104.0bn (+10.4% on the year). EPS estimate: USD 5.12 for this quarter, USD 22.47 for this year.
What the revenue consists of
| Insurance Corporate And Other | USD 26.9bn | 25.4% | −1.4% | | Manufacturing Businesses | USD 24.0bn | 22.7% | +19.7% | | Pilot Travel Centers LLC | USD 16.1bn | 15.3% | +48.1% | | Mc Lane Company | USD 12.1bn | 11.5% | −6.4% | | Service And Retailing Businesses | USD 11.9bn | 11.3% | +13.0% | | Berkshire Hathaway Energy Company | USD 7.8bn | 7.4% | +6.5% | | Burlington Northern Santa Fe Corporation | USD 6.9bn | 6.5% | +14.2% |
Analysts after the report
The average target is USD 556 (range 510–628) with the price at USD 571. Ratings: 2 buy, 2 hold, 0 sell.
AMD – Advanced Micro Devices (Tue Nov 3)
| Revenue | USD 13.4bn | +44.7% on the year | | Gross profit | USD 7.2bn | margin 53.9% (a year ago 51.7%) | | Operating profit | USD 2.8bn | margin 21.2% (a year ago 13.7%) | | Net profit | USD 2.4bn | a year ago USD 1.2bn | | Free cash flow | USD 554m | a year ago USD 1.9bn | | Capital spending | USD 648m | a year ago USD 258m | | Research and development | USD 2.8bn | a year ago USD 2.1bn | | To shareholders | USD 1.5bn | buybacks USD 1.5bn, dividends USD 0m | | Cash | USD 15.8bn | debt USD 8.9bn |
EPS 2.09 USD against 1.95 USD expected (+7.2%). The stock +4.7% the day after the results against the day before. For this quarter analysts expect revenue of USD 17.1bn (+66.1% on the year). EPS estimate: USD 2.93 for this quarter, USD 8.09 for this year.
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 13.4bn | USD 2.8bn | USD 554m |
| 2Q 2026 | USD 11.5bn | USD 2.0bn | USD 1.6bn |
| 1Q 2026 | USD 10.3bn | USD 1.5bn | USD 2.6bn |
| 4Q 2025 | USD 10.3bn | USD 1.8bn | USD 2.4bn |
| 3Q 2025 | USD 9.2bn | USD 1.3bn | USD 1.9bn |
Analysts after the report
Since the report 17 analyst firms changed or repeated their view: 6 raised the price target, 4 cut it. The average target is USD 660 (range 540–1,250) with the price at USD 449. Ratings: 45 buy, 8 hold, 0 sell.
| Firm | Rating | Price target |
|---|---|---|
| Oppenheimer | Perform → Outperform | 600 USD |
| UBS | Buy | 730 → 700 USD |
| JP Morgan | Neutral | 550 → 575 USD |
| Morgan Stanley | Equal-Weight | 510 → 550 USD |
| Piper Sandler | Overweight | 600 → 650 USD |
| Wells Fargo | Overweight | 700 → 650 USD |
| RBC Capital | Sector Perform | 540 USD |
| Truist Securities | Buy | 594 → 605 USD |
Press release and results on SEC EDGAR ↗
PLTR – Palantir Technologies (Mon Nov 2)
| Revenue | USD 2.3bn | +95.9% on the year | | Gross profit | USD 1.9bn | margin 83.4% (a year ago 82.4%) | | Operating profit | USD 1.1bn | margin 46.9% (a year ago 33.3%) | | Net profit | USD 1.1bn | a year ago USD 476m | | Free cash flow | USD 1.2bn | a year ago USD 501m | | Capital spending | USD 8m | a year ago USD 7m | | Research and development | USD 220m | a year ago USD 144m | | Cash | USD 10.6bn | debt USD 225m |
EPS 0.44 USD against 0.41 USD expected (+7.3%). The stock −4.7% the day after the results against the day before. For this quarter analysts expect revenue of USD 2.7bn (+89.8% on the year). EPS estimate: USD 0.41 for this quarter, USD 1.70 for this year.
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 2.3bn | USD 1.1bn | USD 1.2bn |
| 2Q 2026 | USD 1.9bn | USD 912m | USD 1.2bn |
| 1Q 2026 | USD 1.6bn | USD 754m | USD 892m |
| 4Q 2025 | USD 1.4bn | USD 575m | USD 764m |
| 3Q 2025 | USD 1.2bn | USD 393m | USD 501m |
Analysts after the report
Since the report 10 analyst firms changed or repeated their view: 7 raised the price target, 0 cut it. The average target is USD 222 (range 80.00–273) with the price at USD 160. Ratings: 22 buy, 9 hold, 2 sell.
| Firm | Rating | Price target |
|---|---|---|
| Barclays | Overweight | 265 → 273 USD |
| Citigroup | Buy | 250 → 265 USD |
| Truist Securities | Buy | 223 → 250 USD |
| DA Davidson | Buy | 250 USD |
| RBC Capital | Underperform | 90.00 → 130 USD |
| Rosenblatt | Buy | 260 USD |
| Cantor Fitzgerald | Neutral | 207 USD |
| Morgan Stanley | Equal-Weight | 205 → 233 USD |
Press release and results on SEC EDGAR ↗
TM – Toyota Motor (Wed Nov 4)
| Revenue | JPY 13,437.1bn | +8.6% on the year | | Gross profit | JPY 2,232.2bn | margin 16.6% (a year ago 15.9%) | | Operating profit | JPY 1,127.7bn | margin 8.4% (a year ago 6.8%) | | Net profit | JPY 759.4bn | a year ago JPY 932.1bn | | Free cash flow | JPY −162.4bn | a year ago JPY −204.1bn | | Capital spending | JPY 1,229.8bn | a year ago JPY 1,272.2bn | | Cash | JPY 14,226.5bn | debt JPY 43,199.8bn |
EPS 4.12 USD against 2.74 USD expected (+50.4%). The stock +13.0% the day after the results against the day before. For this quarter analysts expect revenue of JPY 13,857.3bn (+3.0% on the year). EPS estimate: USD 3.23 for this quarter, USD 18.33 for this year.
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | JPY 13,437.1bn | JPY 1,127.7bn | JPY −162.4bn |
| 2Q 2026 | JPY 13,525.4bn | JPY 1,063.5bn | JPY −769.0bn |
| 1Q 2026 | JPY 12,597.3bn | JPY 569.5bn | JPY 239.0bn |
| 4Q 2025 | JPY 13,456.9bn | JPY 1,191.0bn | JPY −488.9bn |
| 3Q 2025 | JPY 12,377.4bn | JPY 839.6bn | JPY −204.1bn |
Analysts after the report
The average target is USD 238 (range 230–253) with the price at USD 216. Ratings: 3 buy, 1 hold, 0 sell.
Press release and results on SEC EDGAR ↗
AMGN – Amgen (Tue Nov 3)
| Revenue | USD 10.4bn | +8.5% on the year | | Gross profit | USD 7.6bn | margin 73.1% (a year ago 67.8%) | | Operating profit | USD 3.7bn | margin 35.8% (a year ago 26.4%) | | Net profit | USD 3.9bn | a year ago USD 3.2bn | | Free cash flow | USD 3.7bn | a year ago USD 4.2bn | | Capital spending | USD 587m | a year ago USD 436m | | Research and development | USD 2.1bn | a year ago USD 1.9bn | | To shareholders | USD 1.4bn | buybacks USD 0m, dividends USD 1.4bn | | Cash | USD 13.2bn | debt USD 54.0bn |
EPS 6.45 USD against 5.78 USD expected (+11.6%). The stock +2.8% the day after the results against the day before. For this quarter analysts expect revenue of USD 10.5bn (+6.1% on the year). EPS estimate: USD 5.64 for this quarter, USD 23.51 for this year.
What the revenue consists of
| Other Products | USD 1.7bn | 16.7% | +14.0% | | Repathaevolocumab | USD 1.1bn | 10.5% | +36.6% | | EVENITY | USD 751m | 7.2% | +38.8% | | Prolia | USD 632m | 6.1% | −44.5% | | Enbrel | USD 611m | 5.9% | +5.3% | | TEZSPIRE | USD 538m | 5.2% | +42.7% | | TEPEZZA | USD 526m | 5.1% | −6.1% | | BLINCYTO | USD 496m | 4.8% | +26.5% | | Product And Service Other | USD 482m | 4.7% | +14.8% | | Otezla | USD 481m | 4.6% | −17.8% | | Nplate | USD 472m | 4.6% | +3.3% | | UPLIZNA | USD 451m | 4.4% | +191.0% | | KRYSTEXXA | USD 419m | 4.0% | +30.9% | | IMDELLTRAIMDYLLTRA | USD 406m | 3.9% | +128.1% | | Vectibix | USD 335m | 3.2% | +18.0% | | Kyprolis | USD 330m | 3.2% | −8.1% | | Aranesp | USD 329m | 3.2% | −7.8% | | Xgeva | USD 288m | 2.8% | −46.6% |
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 10.4bn | USD 3.7bn | USD 3.7bn |
| 2Q 2026 | USD 10.1bn | USD 3.5bn | USD 3.5bn |
| 1Q 2026 | USD 8.6bn | USD 2.7bn | USD 1.5bn |
| 4Q 2025 | USD 9.9bn | USD 2.7bn | USD 961m |
| 3Q 2025 | USD 9.6bn | USD 2.5bn | USD 4.2bn |
Analysts after the report
Since the report 16 analyst firms changed or repeated their view: 16 raised the price target, 0 cut it. The average target is USD 430 (range 230–536) with the price at USD 460. Ratings: 11 buy, 18 hold, 5 sell.
| Firm | Rating | Price target |
|---|---|---|
| Freedom Broker | Buy → Hold | 450 → 470 USD |
| Leerink Partners | Market Perform | 395 → 464 USD |
| Guggenheim | Neutral | 378 → 435 USD |
| Canaccord Genuity | Hold | 384 → 440 USD |
| UBS | Buy | 470 → 530 USD |
| Scotiabank | Sector Outperform | 500 → 530 USD |
| Citigroup | Neutral | 405 → 465 USD |
| JP Morgan | Neutral | 350 → 425 USD |
Press release and results on SEC EDGAR ↗
ANET – Arista Networks (Tue Nov 3)
| Revenue | USD 3.7bn | +58.5% on the year | | Gross profit | USD 2.3bn | margin 63.6% (a year ago 64.6%) | | Operating profit | USD 1.6bn | margin 44.9% (a year ago 42.4%) | | Net profit | USD 1.6bn | a year ago USD 853m | | Free cash flow | USD 1.1bn | a year ago USD 1.2bn | | Capital spending | USD 101m | a year ago USD 30m | | Research and development | USD 487m | a year ago USD 326m | | Cash | USD 14.4bn | debt — |
EPS 1.20 USD against 1.08 USD expected (+11.1%). The stock +8.7% the day after the results against the day before. For this quarter analysts expect revenue of USD 4.0bn (+59.9% on the year). EPS estimate: USD 1.29 for this quarter, USD 4.38 for this year.
What the revenue consists of
| Product | USD 3.2bn | 87.2% | +66.9% | | Service | USD 468m | 12.8% | +17.9% |
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 3.7bn | USD 1.6bn | USD 1.1bn |
| 2Q 2026 | USD 3.0bn | USD 1.4bn | USD 1.1bn |
| 1Q 2026 | USD 2.7bn | USD 1.2bn | USD 1.6bn |
| 4Q 2025 | USD 2.5bn | USD 1.0bn | USD 1.2bn |
| 3Q 2025 | USD 2.3bn | USD 978m | USD 1.2bn |
Analysts after the report
Since the report 9 analyst firms changed or repeated their view: 5 raised the price target, 2 cut it. The average target is USD 249 (range 202–305) with the price at USD 171. Ratings: 29 buy, 0 hold, 0 sell.
| Firm | Rating | Price target |
|---|---|---|
| UBS | Buy | 259 → 291 USD |
| JP Morgan | Overweight | 250 → 270 USD |
| Piper Sandler | Overweight | 240 → 261 USD |
| Barclays | Overweight | 289 → 236 USD |
| Wells Fargo | Overweight | 255 → 245 USD |
| Truist Securities | Buy | 234 → 240 USD |
| Morgan Stanley | Overweight | 220 → 230 USD |
| Rosenblatt | Buy | 280 USD |
Press release and results on SEC EDGAR ↗
MCD – McDonald's (Wed Nov 4)
| Revenue | USD 7.2bn | +1.1% on the year | | Operating profit | USD 3.6bn | margin 50.2% (a year ago 46.9%) | | Net profit | USD 2.5bn | a year ago USD 2.3bn | | Free cash flow | USD 2.1bn | a year ago USD 2.4bn | | Capital spending | USD 884m | a year ago USD 1.0bn |
EPS 3.57 USD against 3.38 USD expected (+5.6%). The stock +5.7% the day after the results against the day before. For this quarter analysts expect revenue of USD 7.1bn (+1.0% on the year). EPS estimate: USD 3.18 for this quarter, USD 12.94 for this year.
What the revenue consists of
| International Operated Markets | USD 3.7bn | 51.2% | +0.1% | | USMarket | USD 2.8bn | 38.9% | +0.5% | | International Developmental Licensed Marketsand Corporate | USD 709m | 9.9% | +9.4% |
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 2Q 2026 | USD 7.1bn | USD 3.3bn | USD 2.0bn |
| 1Q 2026 | USD 6.5bn | USD 2.9bn | USD 1.7bn |
| 4Q 2025 | USD 7.0bn | USD 3.2bn | USD 1.6bn |
| 3Q 2025 | USD 7.1bn | USD 3.3bn | USD 2.4bn |
Analysts after the report
Since the report 10 analyst firms changed or repeated their view: 9 raised the price target, 1 cut it. The average target is USD 299 (range 230–390) with the price at USD 277. Ratings: 17 buy, 16 hold, 1 sell.
| Firm | Rating | Price target |
|---|---|---|
| Argus Research | Buy | 310 → 320 USD |
| Freedom Broker | Buy → Hold | 305 → 298 USD |
| JP Morgan | Overweight | 250 → 270 USD |
| Citigroup | Buy | 295 → 315 USD |
| RBC Capital | Sector Perform | 285 → 300 USD |
| Bernstein | Market Perform | 250 → 280 USD |
| Keybanc | Overweight | 280 → 307 USD |
| Wells Fargo | Overweight | 270 → 300 USD |
Press release and results on SEC EDGAR ↗
SHOP – Shopify (Tue Nov 3)
| Revenue | USD 3.7bn | +31.6% on the year | | Gross profit | USD 1.8bn | margin 47.6% (a year ago 48.9%) | | Operating profit | USD 688m | margin 18.4% (a year ago 17.3%) | | Net profit | USD 462m | a year ago USD 264m | | Free cash flow | USD 717m | a year ago USD 507m | | Capital spending | USD 101m | a year ago USD 6m | | Research and development | USD 497m | a year ago USD 375m | | To shareholders | USD 562m | buybacks USD 562m, dividends USD 0m | | Cash | USD 4.7bn | debt USD 188m |
EPS 0.49 USD against 0.46 USD expected (+6.5%). The stock −2.0% the day after the results against the day before. For this quarter analysts expect revenue of USD 4.8bn (+31.1% on the year). EPS estimate: USD 0.62 for this quarter, USD 1.90 for this year.
What the revenue consists of
| Service | USD 2.9bn | 77.7% | +35.5% | | Subscription And Circulation | USD 836m | 22.3% | +19.6% |
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 3.7bn | USD 688m | USD 717m |
| 2Q 2026 | USD 3.6bn | USD 629m | USD 654m |
| 1Q 2026 | USD 3.2bn | USD 498m | USD 476m |
| 4Q 2025 | USD 3.7bn | USD 745m | USD 715m |
| 3Q 2025 | USD 2.8bn | USD 491m | USD 507m |
Analysts after the report
Since the report 9 analyst firms changed or repeated their view: 2 raised the price target, 4 cut it. The average target is USD 177 (range 120–220) with the price at USD 149. Ratings: 42 buy, 12 hold, 1 sell.
| Firm | Rating | Price target |
|---|---|---|
| Argus Research | Buy | 180 USD |
| UBS | Neutral | 145 → 160 USD |
| RBC Capital | Outperform | 200 USD |
| Wells Fargo | Overweight | 208 → 205 USD |
| Wedbush | Outperform | 176 USD |
| DA Davidson | Buy | 200 → 180 USD |
| Rosenblatt | Buy | 186 → 180 USD |
| Cantor Fitzgerald | Neutral | 158 → 150 USD |
Press release and results on SEC EDGAR ↗
ARM – Arm Holdings (Wed Nov 4)
| Revenue | USD 1.4bn | +27.1% on the year | | Gross profit | USD 1.4bn | margin 97.1% (a year ago 97.4%) | | Operating profit | USD 201m | margin 13.9% (a year ago 14.4%) | | Net profit | USD 130m | a year ago USD 238m | | Free cash flow | USD 130m | a year ago USD 427m | | Capital spending | USD 77m | a year ago USD 140m | | Research and development | USD 857m | a year ago USD 691m | | Cash | USD 3.6bn | debt USD 500m |
EPS 0.52 USD against 0.48 USD expected (+8.3%). The stock −17.7% the day after the results against the day before. For this quarter analysts expect revenue of USD 1.5bn (+23.7% on the year). EPS estimate: USD 0.56 for this quarter, USD 2.26 for this year.
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | USD 1.4bn | USD 201m | USD 130m |
| 2Q 2026 | USD 1.3bn | USD 98m | USD 694m |
| 1Q 2026 | USD 1.5bn | USD 440m | USD 170m |
| 4Q 2025 | USD 1.2bn | USD 191m | USD 181m |
| 3Q 2025 | USD 1.1bn | USD 163m | USD 427m |
Analysts after the report
Since the report 7 analyst firms changed or repeated their view: 0 raised the price target, 7 cut it. The average target is USD 273 (range 125–500) with the price at USD 175. Ratings: 28 buy, 14 hold, 1 sell.
| Firm | Rating | Price target |
|---|---|---|
| UBS | Buy | 320 → 270 USD |
| JP Morgan | Overweight | 255 → 245 USD |
| TD Cowen | Buy | 350 → 250 USD |
| RBC Capital | Outperform | 340 → 300 USD |
| Barclays | Overweight | 360 → 325 USD |
| Wells Fargo | Overweight | 280 → 255 USD |
| Piper Sandler | Overweight | 320 → 270 USD |
Press release and results on SEC EDGAR ↗
NVO – Novo Nordisk A/S (Wed Nov 4)
| Revenue | DKK 79.2bn | +5.6% on the year | | Gross profit | DKK 61.0bn | margin 77.0% (a year ago 76.1%) | | Operating profit | DKK 23.0bn | margin 29.1% (a year ago 31.6%) | | Net profit | DKK 16.7bn | a year ago DKK 20.0bn | | Free cash flow | DKK 28.0bn | a year ago DKK 30.9bn | | Capital spending | DKK 13.7bn | a year ago DKK 15.4bn | | Research and development | DKK 19.9bn | a year ago DKK 15.4bn | | To shareholders | DKK 20.7bn | buybacks DKK 4.1bn, dividends DKK 16.6bn | | Cash | DKK 46.4bn | debt DKK 134.5bn |
EPS 5.79 USD against 4.62 USD expected (+25.3%). The stock +0.3% the day after the results against the day before. For this quarter analysts expect revenue of DKK 79.1bn (−0.1% on the year). EPS estimate: USD 4.31 for this quarter, USD 23.12 for this year.
The last quarters
| Quarter to | Revenue | Operating profit | FCF |
|---|---|---|---|
| 3Q 2026 | DKK 79.2bn | DKK 23.0bn | DKK 28.0bn |
| 2Q 2026 | DKK 78.5bn | DKK 27.1bn | DKK 42.4bn |
| 1Q 2026 | DKK 96.8bn | DKK 59.6bn | DKK 12.0bn |
| 4Q 2025 | DKK 79.1bn | DKK 31.7bn | DKK −37.5bn |
| 3Q 2025 | DKK 75.0bn | DKK 23.7bn | DKK 30.9bn |
Analysts after the report
The average target is USD 45.83 (range 39.74–61.78) with the price at USD 40.31. Ratings: 3 buy, 10 hold, 1 sell.
Press release and results on SEC EDGAR ↗
Quotes are picked by a rule: the CEO's and CFO's sentences on the outlook with a number, then on demand. They aren't every important sentence of the call. Free cash flow (FCF) is operating cash flow less capital spending.