Meta Platforms Climbs on Expected Advertising Revenue Strength
January 29, 2026
Image Source: TradingView By Brian Nelson, CFA On January 28, Meta Platforms (META) reported fourth quarter results that showed a beat on both the top and bottom lines. Revenue increased 24% year-over-year in the quarter (up 23% on a constant currency basis), to $59.9 billion, beating consensus expectations for growth of about 21%, while income from operations advanced 6% year-over-year. Its operating margin contracted roughly 7 percentage points in the period, though net income and diluted earnings per share increased 9% and 11%, respectively. Diluted earnings per share was $8.88, up from $8.02 in the year ago period. Family daily active people (DAP) was 3.58 billion on average for December 2025, an increase of 7% year-over-year. Ad impressions increased 18%
Microsoft’s In-Line Cloud Growth and Elevated Capex Weigh on Shares
January 29, 2026
Image Source: TradingView By Brian Nelson, CFA On January 28, Microsoft (MSFT) reported strong second quarter fiscal 2026 results (ended December 31, 2025) with both revenue and non-GAAP earnings per share exceeding the consensus forecast. Revenue of $81.3 billion beat consensus of $80.3 billion and increased 17% year-over-year (up 15% in constant currency), while operating income of $38.3 billion increased 21% year-over-year (up 19% in constant currency). Non-GAAP net income was $30.9 billion in the quarter, increasing 23% year-over-year (up 21% in constant currency). Non-GAAP diluted earnings per share came in at $4.14, increasing 24% (up 21% in constant currency) and exceeding the consensus forecast of $3.92. Management had the following to say about the results: We are only at
UnitedHealth Group Forecasts First Annual Revenue Decline in Decades
January 27, 2026
Image Source: TradingView By Brian Nelson, CFA On January 27, UnitedHealth Group (UNH) reported mixed results for its fourth quarter of 2025 with non-GAAP earnings per share coming in-line with expectations, but revenue missing the mark. Consolidated revenues for 2025 were $447.6 billion, representing 12% year-over-year growth. For 2025, earnings from operations were $19 billion, and the company posted a net margin of 2.7%, while cash flow from operations was $19.7 billion, or 1.5x net income. For 2025, UnitedHealthcare expanded revenues 16%, while Optum expanded revenues 7% on the year. Full year adjusted net earnings were $16.35 per share. Management had the following to say about the results: We confronted challenges directly and finished 2025 as a much stronger company,
Kinder Morgan Delivers Highest Ever Fourth Quarter Net Income
January 22, 2026
Image Source: TradingView By Brian Nelson, CFA On January 21, Kinder Morgan (KMI) reported better than expected fourth quarter results. Fourth quarter net income attributable to KMI came in at $996 million versus $667 million in the fourth quarter of 2024. Adjusted net income was 22% higher than the same period a year ago. Adjusted EBITDA was up 10%, to $2.27 billion, while earnings per share of $0.45 was up 50% versus the fourth quarter of 2024. Adjusted earnings per share was $0.39, up 22% versus the same period a year ago. Management had the following to say about the results: Led by record-setting performance in our Natural Gas Pipelines business segment, the company delivered its highest ever fourth quarter
Procter & Gamble Points to Challenging Consumer and Geopolitical Environment
January 22, 2026
Image Source: TradingView By Brian Nelson, CFA On January 22, Procter & Gamble (PG) reported results for the second quarter of fiscal 2026 that were mixed. The company missed estimates on the top line but beat expectations on the bottom line. Net sales increased 1%, but organic sales were unchanged versus the prior year. Core earnings per share came in at $1.88, in-line versus the prior year. Operating cash flow was $5.0 billion, while net earnings were $4.3 billion for the quarter. Adjusted free cash flow productivity, as measured by operating cash flow less capital spending as a percentage of net earnings, was 88%. P&G returned $4.8 billion to shareholders, split between $2.5 billion in dividend payments and $2.3 billion
Netflix Continues Its Bid for Warner Bros. Discovery
January 21, 2026
Image Source: Netflix By Brian Nelson, CFA On January 20, Netflix (NFLX) reported fourth quarter results that came in better than expected on both the top and bottom lines. In the period, revenue increased 17.6% year-over-year, while the firm crossed the 325 million paid membership milestone. Operating income increased 30% year-over-year, with its operating margin increasing roughly 230 basis points. Net income came in at $2.4 billion versus $1.9 billion in the year-ago period and diluted earnings per share came in at $0.56 versus $0.43 in the year-ago period. Free cash flow was $1.9 billion in the quarter, up from $1.4 billion in last year’s period. The results were driven by membership growth, higher pricing, and increased ad revenue. Management
Key Comments from the Banks This Earnings Season
January 20, 2026
Image Source: TradingView By Valuentum Analysts JPMorgan’s (JPM) CEO Jamie Dimon: The Firm concluded the year with a strong fourth quarter, generating net income of $14.7 billion excluding a significant item. Each line of business performed well. In the CIB, revenue rose 10%. Markets continued to benefit from demand for financing and robust client activity, pushing revenue up 17%. Additionally, Payments revenue reached a record $5.1 billion due to ongoing deposit and fee growth. In CCB, revenue rose 6%, and the franchise continued to acquire new customers at a robust pace. This year, we opened 1.7 million net new checking accounts and 10.4 million new credit card accounts, and we also grew wealth management households to over 3 million. Looking
Oracle Has Turned Into a Net Debt Heavy, Free Cash Flow Burning Enterprise
December 12, 2025
Image Source: TradingView By Brian Nelson, CFA On December 10, Oracle (ORCL) reported second quarter fiscal 2026 results that were mixed, with revenue missing the consensus forecast, but non-GAAP earnings per share exceeding expectations. Total quarterly revenues were up 14% in USD, and up 13% in constant currency. Second quarter remaining performance obligations (RPO) were $523 billion, up 438% in USD. Cloud revenue (IaaS plus SaaS) was up 34% in USD and 33% in constant currency. Cloud Infrastructure (IaaS) revenue was up 68% in USD and 66% in constant currency, while Cloud Application (SaaS) revenue was up 11% in both USD and constant currency. Non-GAAP earnings per share was up 54%, to $2.26. Management had the following to say about the
The TJX Companies Raises Fiscal 2026 Outlook
December 8, 2025
Image Source: TradingView By Brian Nelson, CFA The TJX Companies (TJX) recently reported third quarter fiscal 2026 results that beat on both the top and bottom lines. The off-price apparel and home fashions retailer posted net sales for the third quarter of $15.1 billion, an increase of 7% versus the same period of fiscal 2025. Third quarter consolidated comparable sales increased 5%, well above the company’s plan and above consensus of 3.6%. Also above the company’s plan were third quarter pretax profit margin and diluted earnings per share of $1.28, up 12%. Management had the following to say about the results: I am extremely pleased with our third quarter performance and the excellent execution of our off-price business model by
Macy’s Raises Outlook for 2025
December 8, 2025
Image Source: TradingView By Brian Nelson, CFA Macy’s (M) recently reported third quarter results that came in better than expected on both the top and bottom lines. The retailer achieved net sales of $4.7 billion, exceeding the company’s guidance range. Macy’s reported comparable sales were up 2.5% on an owned basis and up 3.2% on a comparable owned-plus-licensed-plus marketplace (O+L+M) basis, also exceeding the company’s guidance range. Adjusted diluted earnings per share was $0.09, above its prior guidance range thanks to better-than-expected net sales, gross margin, and overhead costs. Bloomingdale’s comparable store sales were up 8.8% on an owned basis and up 9.0% on an O+L+M basis, the highest in 13 quarters. Management had the following to say about the results:
