The Earnings Debate

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We turn quarterly earnings calls into a fast-paced financial comedic debate. Our AI hosts (one skeptic and one optimist) agree on almost nothing. We cut through jargon, pressure-test claims, and spotlight the questions that matter. Rigorous analysis. Actual laughs. On the beat so you don't miss a beat.

  1. 2h ago

    Workday, Inc. (WDAY) Announced Q2 2027 Earnings on August 27, 2026, Reporting "Subscription revenue in Q2 was $2.471 billion, up 14%"

    Workday, Inc. reported its second quarter fiscal year 2027 results. Subscription revenue in Q2 was $2.471 billion, up 14%. Professional services revenue was $178 million, resulting in total revenue of $2.649 billion, growth of 13%. Non-GAAP operating income was $824 million for the quarter, representing a non-GAAP operating margin of 31.1%. Operating cash flow totaled $520 million in the quarter, and free cash flow was $460 million. The company's 12-month subscription revenue backlog, or cRPO, ended the quarter at $9.03 billion, up 14.2%. Total subscription revenue backlog ended Q2 at $27.4 billion, up 8% from a year ago. Gross revenue retention was 97% for the quarter. The company also completed its $5 billion share repurchase plan six months ahead of target by repurchasing $1.3 billion of shares in Q2, and the board approved a new $4 billion open-ended share repurchase program. Chief Executive Officer Aneel Bhusri highlighted that AI products alone drove more than $100 million of new ACV, which accounted for more than 25% of all new ACV closed in the quarter. Management emphasized rapid customer adoption, noting that "more than 5,500 customers are using one or more of our organic agents," representing an increase of "more than 35% from last quarter." Furthermore, Gerrit Kazmaier stated that the company achieved "nearly $600 million in ARR from our AI SKUs," which is up more than 200% year-over-year and up over 20% from last quarter. Management focused heavily on driving adoption and transition to the "Flex credit consumption model." In medium enterprise, Rob Enslin noted that customer volume increased "more than 5x over Q1."For forward guidance, Workday increased its FY 27 subscription revenue outlook to a range of $9.94 billion to $9.95 billion, representing a growth of 13%. For the third quarter of fiscal year 2027, the company expects subscription revenue of approximately $2.515 billion, growth of 12%, and third quarter cRPO growth of 11% to 12%. Workday increased its full-year FY 27 non-GAAP operating margin guidance to 31%, with Q3 non-GAAP operating margin expected to be approximately 30%. The company expects FY 27 capital expenditures of approximately $270 million, resulting in full-year FY 27 free cash flow of $3.18 billion. Additionally, management expects the non-GAAP operating margin to expand by "at least 2 percentage points next year."During the quarter, Workday announced that Adaptive Decision Intelligence entered general availability on July 31, with 170 customers having already purchased it. The company launched Sana Enterprise and combined Sana Learn with its core learning management system, which more than tripled the overall learning business quarter-over-quarter. Workday also introduced Sana Agent Builder, which allows users to create custom agents in natural language. In partnerships, Cisco joined as a launch partner for Agent Passport, bringing Cisco AI Defense to protect agents in production. The company formed new relationships with KPMG U.S., Danske Bank, BWX Technologies, and Guidehouse.

    Workday, Inc. (WDAY) Announced Q2 2027 Earnings on August 27, 2026, Reporting "Subscription revenue in Q2 was $2.471 billion, up 14%"

  2. 9h ago

    Dollar General Corporation (DG) Announced Q2 2026 Earnings on August 27, 2026, Reporting "Net sales for the quarter increased 5.2% to $11.3 billion"

    For the second quarter of 2026, Dollar General reported that "Net sales for the quarter increased 5.2% to $11.3 billion" compared to net sales of "$10.7 billion in last year's second quarter". Management stated that "Same-store sales increased 3.5% during the quarter" which was driven by customer traffic growth of "2%" and average basket growth of "1.5%". "For Q2, gross profit as a percentage of sales was 32.6%, an increase of 127 basis points", and "Operating profit for the second quarter increased 29.2% to $769 million". Net interest expense was "$42.9 million" and the effective tax rate was "24.2%". Finally, "EPS for the quarter increased 33% to $2.48". The company also reported that year-to-date they "generated significant cash flow from operations of $1.5 billion".Management highlighted progress on their four strategic growth pillars: "enhancing the customer experience, elevating our brand, driving greater enterprise-wide efficiencies and extending our reach". To elevate their brand, the company made significant progress on store remodels, completing "1,324 Project Renovate remodels and 1,422 Project Elevate remodels through the end of Q2" toward full-year goals of executing 2,000 and 2,250 of these remodels, respectively. On the digital front, executives noted that collective delivery offerings have generated "a strong sales incrementality rate of approximately 80%". Within their store footprint, they expanded their dollar off-shelf display presence in "more than 9,000 stores" and noted that the "Value Valley offering once again significantly outperformed the chain average in Q2 with comp sales increases of more than 16%".Due to strong performance, Dollar General raised its full-year outlook. For fiscal 2026, the company now expects "net sales growth in the range of 4% to 4.3%", "same-store sales growth in the range of 2.5% to 2.9%", and "EPS in the range of $7.80 to $8". This updated EPS range includes "the approximate $0.25 Q2 benefit from tariff refunds after related reinvestments" and contemplates "up to $700 million of share repurchases in the back half of the year", which they plan to resume in the third quarter. They also expect "modest SG&A deleverage in 2026" as they continue to invest in key initiatives.In product and partnership updates, Emily Taylor discussed the expansion of their Retail Media Network, noting they had "approximately $170 million in annual volume" at the end of last year and plan to pilot "subscription and loyalty" at the end of this year with a full rollout in 2027. Todd Vasos highlighted that the $1 price point consists of "over 2,000 items across the store at or below the $1 price point", including the rotating "Value Valley offering" of "more than 600 rotating items". The company expanded its delivery reach "through multiple avenues, including our myDG Delivery offering as well as through third-party partnerships of DoorDash and Uber Eats". Additionally, the company opened "1 Mi Super Dollar General in Q2, bringing us to a total of 22 stores in Mexico".

    Dollar General Corporation (DG) Announced Q2 2026 Earnings on August 27, 2026, Reporting "Net sales for the quarter increased 5.2% to $11.3 billion"

  3. 12h ago

    NVIDIA Corporation (NVDA) Announced Q2 2027 Earnings on August 26, 2026, Reporting "Total revenue of $96 billion more than doubled year-over-year as growth accelerated for the fourth consecutive quarter"

    NVIDIA Corporation reported financial results for the second quarter of fiscal year 2027. Executive Vice President and Chief Financial Officer Colette Kress announced "record revenue, operating income and EPS". Total revenue for the second quarter was reported as "$96 billion," which "more than doubled year-over-year as growth accelerated for the fourth consecutive quarter". The Data Center segment generated quarterly revenue of "$89 billion," which "increased 18% quarter-over-quarter". Within Data Center, hyperscale quarterly revenue was "$49 billion," which "grew 13% sequentially". AC I&E quarterly revenue was "$40 billion," representing an increase of "25% sequentially and 138% year-over-year". For the second quarter, both GAAP and non-GAAP gross margins were reported at "75%". GAAP and non-GAAP operating expenses for the second quarter were "up 10% and 11% sequentially". On the balance sheet, inventory increased to "$32 billion," and days of sales outstanding was reported as "60 days". During the second quarter, the company returned a record "$26 billion to shareholders," consisting of "$20 billion through share repurchases and $6 billion through our quarterly dividend of $0.25 per share".In terms of key business updates, management highlighted significant expansion in partnerships and product development. The company announced an expanded partnership with AWS, which is deploying "an additional 2 million GPUs starting this quarter through the second quarter of fiscal '29 along with Vera, CPUs, some integrated with Ruben, other standalone" and AWS will adopt NVIDIA's "full physical AI stack, Omniverse, Cosmos, Isaac, and Jason to power its fleet of warehouse robots". Furthermore, to support the build-outs of Frontier AI labs, NVIDIA announced partnerships with "6 of the world's leading infrastructure capital providers, Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish financing platforms that will raise over $500 billion of third-party capital". The company also secured land power shell capacity through a partnership with SoftBank Energy to exclusively host NVIDIA compute at their Portsmouth Campus, with the initial deployment "expected to support 4.25 gigawatts of AI factory capacity" to be utilized by OpenAI. In hardware, production shipments of "vera ruben" commenced "earlier this month". Additionally, NVIDIA announced that "Grok 3 LPX, our first rack scale LPU system is in full production" and expects to ship them "in volume later this quarter". Standalone production of the next-generation "Vero CPU" is also underway, and Grace CPU revenue exceeded "$5 billion" on a trailing 12-month basis. For the third quarter of fiscal year 2027, NVIDIA expects total revenue to be "$108 billion, plus and minus 2%". Sequential growth is expected to be driven primarily by "ACI and E," and management projects that "verarubin" will account for "about 20% of data center revenue in Q3". GAAP and non-GAAP gross margins for the third quarter are expected to be "74% plus or minus 50 basis points". Management expects gross margins to "bottom in Q4 in the 71% to 72% range before settling at 72% to 73% in fiscal year '28, as executed price increases take effect in Q1". For the full fiscal year 2027, GAAP and non-GAAP tax rates are expected to be "between 16% and 18%". In terms of preliminary outlook for the full fiscal year 2028, the company expects revenue to grow "approximately 70% year-over-year" under a supply-constrained outlook where supply is expected to "remain a bottleneck, at least through the end of fiscal year '28".I can also draft other podcast variants if you want to focus on a different thematic angle.

    NVIDIA Corporation (NVDA) Announced Q2 2027 Earnings on August 26, 2026, Reporting "Total revenue of $96 billion more than doubled year-over-year as growth accelerated for the fourth consecutive quarter"

  4. 13h ago

    Salesforce, Inc. (CRM) Announced Q2 2027 Earnings on August 26, 2026, Reporting "Q2 revenue came in at $11.35 billion"

    Salesforce delivered record second-quarter financial results. Q2 revenue came in at "$11.35 billion", which was up 11% year-over-year. Subscription and support revenue was "$10.82 billion", up 12% year-over-year in nominal and 11% in constant currency. Current remaining performance obligation ended the quarter at "$33.5 billion", up 14% in constant currency. The company achieved a Q2 non-GAAP operating margin of "34.1%" and a GAAP operating margin of "20.5%". Free cash flow for the quarter was "$1.1 billion", representing an increase of 81% year-over-year. Additionally, the company continues its "$25 billion accelerated share repurchase" program, expecting to repurchase at least 14% of shares outstanding through this program thus far at an average price of "$176 per share".Management highlighted strong AI and product momentum, particularly with Agentforce, as "Agentforce ARR reached $1.5 billion". This growth was driven by Slack bot and Headless launches, alongside continued AI demand. In Q2 alone, customers drove "3.2 billion AW use", representing a 97% quarter-over-quarter increase in Agentic Work Units. Additionally, the company announced "Claudeforce", a combination product developed with Anthropic that brings together Anthropic's Claude model with Salesforce's data and workflows. Premium Slack upgrades have tripled since the launch of Slack bot, which is driving "8.1 million hours of annualized productivity gains" for Salesforce's own employees.CEO Marc Benioff refuted concerns over the "SaaSpocalypse", stating that net new annualized contract value (AOV) growth is "the strongest in 4 years". He noted that seats across Agentforce, sales, service, and Slack grew year-over-year, while attrition was "near its lowest level ever". The company completed a multibillion-dollar agreement contract expansion with the U.S. Army Human Resources Command, which expects to drive "up to 55 million Agentforce conversations every single month". On the organizational front, management announced that Miguel Milano was promoted to "Chief Operating Officer" during the quarter. Looking ahead, Salesforce expects third-quarter revenue to be between "$11.42 billion to $11.5 billion", representing approximately 11% to 12% growth in constant currency, with Q3 CRPO growth expected to be approximately 14% year-over-year in constant currency. For the full fiscal year 2027, the company raised its revenue guidance to "$46.1 billion to $46.4 billion", reflecting a 100 million dollar organic performance raise and a 200 million dollar expected contribution from the anticipated closings of Contentful and Fin, partially offset by a 100 million dollar FX headwind. Full-year non-GAAP operating margin guidance is held at approximately "34.3%", and GAAP operating margin is updated to approximately "20.1%", while operating and free cash flow growth is expected to be approximately "4% to 5% year-over-year".

    Salesforce, Inc. (CRM) Announced Q2 2027 Earnings on August 26, 2026, Reporting "Q2 revenue came in at $11.35 billion"

  5. 1d ago

    Veeva Systems Inc. (VEEV) Announced Q2 2027 Earnings on August 26, 2026, Reporting "Total revenue in the quarter was $928 million"

    Veeva Systems Inc. reported fiscal 2027 second quarter financial results, which delivered results ahead of guidance. For the quarter, management stated that "Total revenue in the quarter was $928 million, with non-GAAP operating income of $416 million." Management also highlighted that the quarter represented their best CRM quarter ever. In commercial subscriptions, revenue grew about 13 percent year-over-year, which was in the double digits even when backing out the Crossix business. During the call, management focused heavily on the rapid acceleration of their artificial intelligence initiatives, particularly with Veeva Falcon. Described as providing "agentic labor," Veeva Falcon represents a new business model that delivers digital labor rather than traditional software, with interest from customers described as very high. Management also discussed Aspen, a rapid start-up initiative within Veeva targeting horizontal CRM in a new way built on modern technology with simple, predictable pricing of 50 dollars per user per month. Additionally, Vault CRM showed strong performance with over 180 customers live, including major wins like Biogen and Regeneron, as the company prepares for CRM win backs ahead of the end of the 2029 backstop date.In other key business updates, the company highlighted the one-year anniversary of its partnership and settlement with IQVIA, with management expressing high satisfaction with the collaboration's progress. In R&D, management noted a "changing of the guard" as they transition from older products like eTMF and CTMS to newer growth areas like EDC and safety applications. The Data Cloud segment added 14 customers, showing steady progress. Looking ahead, management raised its fiscal 2027 full-year guidance, noting that all updated expectations have been factored into the full-year targets. Management also reiterated confidence in its long-term trajectory, remaining on track for its 2030 goals.

    Veeva Systems Inc. (VEEV) Announced Q2 2027 Earnings on August 26, 2026, Reporting "Total revenue in the quarter was $928 million"

  6. 1d ago

    CrowdStrike Holdings, Inc. (CRWD) Announced Q2 2027 Earnings on August 26, 2026, Reporting "total revenue growth accelerated for the fifth consecutive quarter, reaching $1.47 billion, up 26% year-over-year"

    CrowdStrike Holdings, Inc. reported total revenue of $1.47 billion for the fiscal second quarter of 2027, representing 26% growth year-over-year, with second quarter subscription revenue reaching $1.40 billion, up 27% year-over-year. The company delivered a record second quarter with net new ARR of $333 million, representing 51% growth year-over-year, which brought ending ARR to $5.84 billion at the end of the quarter. Second quarter non-GAAP operating income was a record $372 million, or 25% of revenue, growing 46% year-over-year, while second quarter non-GAAP net income attributable to CrowdStrike reached a record $323 million, or $0.31 per diluted share. Additionally, GAAP net income attributable to CrowdStrike was $5 million for the second quarter, and the company generated record second quarter free cash flow of $377 million, or 26% of revenue. Management highlighted the strong momentum of their Flex First strategy, noting that ending ARR from accounts that have adopted the Falcon Flex subscription model surpassed $2.29 billion at the end of the second quarter, growing 101% year-over-year. Customers converting from standard subscriptions to Flex delivered an average ending ARR uplift of more than 40%. Chief Executive Officer George Kurtz highlighted endpoint as the epicenter for AI adoption, noting that the endpoint business accelerated for the fourth consecutive quarter. In addition, the AI detection and response offering, AIDR, grew rapidly with ending ARR nearly tripling compared to the first quarter of fiscal 2027. Next-gen SIEM ending ARR surpassed $695 million at the end of the second quarter, growing 60% year-over-year, and identity ending ARR grew 34% year-over-year to more than $585 million at the end of the second quarter.On the partnership and ecosystem front, the company's Project QuoteWerks has united more than 25 partners, collaborating on nearly $400 million of total contract value pipeline. CrowdStrike's GSI business grew nearly 50% year-over-year, and the company transacted more than $600 million in second quarter deal value through cloud marketplaces, representing over 30% year-over-year growth, including early wins on the Microsoft marketplace. Notable product updates included the upcoming sell-out Fal. Con conference in Las Vegas and the announcement of the acquisition of XM Cyber's technology assets, which is expected to close in the second half of fiscal year 2027. For the fiscal third quarter of 2027, CrowdStrike expects total revenue to be in the range of $1.523 billion to $1.529 billion, third quarter non-GAAP income from operations in the range of $373 million to $376 million, and diluted third quarter non-GAAP net income per share attributable to CrowdStrike of approximately $0.31. For the full fiscal year 2027, the company raised its net new ARR outlook to $1.355 billion at the midpoint, representing expected growth of approximately 34% year-over-year. Full year total revenue is expected to be in the range of $5.991 billion to $6.011 billion, with full year non-GAAP income from operations expected to be between $1.497 billion and $1.508 billion, and full year diluted non-GAAP net income per share in the range of $1.25 to $1.26.

    CrowdStrike Holdings, Inc. (CRWD) Announced Q2 2027 Earnings on August 26, 2026, Reporting "total revenue growth accelerated for the fifth consecutive quarter, reaching $1.47 billion, up 26% year-over-year"

  7. 2d ago

    Intuit Inc. (INTU) Announced Q4 2026 Earnings on August 25, 2026, Reporting "revenue of $4.4 billion, up 14%"

    Intuit Inc. reported solid financial results for the fourth quarter and full fiscal year 2026. For the fourth quarter, total company revenue was 4.4 billion dollars, representing an increase of 14 percent year-over-year. GAAP operating income for the quarter was 475 million dollars compared to 339 million dollars in the prior year period, and non-GAAP operating income was 1.4 billion dollars, up 43 percent. GAAP diluted earnings per share was 1.34 dollars, down slightly from 1.35 dollars last year, while non-GAAP diluted earnings per share grew 47 percent to 4.03 dollars. For the full fiscal year 2026, total company revenue grew 14 percent, with both GAAP and non-GAAP diluted earnings per share expanding by 20 percent. Within its business segments, Global Business Solutions revenue grew 16 percent for the year, and Consumer segment revenue grew 11 percent, driven by a 37 percent full-year increase in TurboTax Live revenue. Credit Karma full-year revenue increased 20 percent, while Mailchimp revenue for the fourth quarter was down slightly year-over-year.In terms of strategic direction, CEO Sasan Goodarzi highlighted that while the company's big bets of assisted tax, money, and mid-market collectively grew 34 percent to represent 30 percent of total revenue, there is an urgent need to accelerate customer acquisition. Total online paying customers grew 3 percent year-over-year, which represents a deceleration. In response, Intuit is shifting its execution and investments to focus on direct new-to-the-franchise customer growth. To address the consumer tax segment, where Intuit lost quality do-it-yourself (DIY) customers to low-cost alternatives, the company is deliberately adjusting its DIY pricing strategy and accepting lower initial DIY average revenue per customer to rebuild its funnel. Operationally, Intuit is making two major reporting changes effective August 1, 2026: Mailchimp will be managed as a separate reportable segment, and share-based compensation expenses will no longer be excluded from non-GAAP financial measures. Management pointed to several product and platform milestones. Widening the front door, the recently introduced QuickBooks Free offering has already reached more than 20,000 customers who are active or have converted to paid versions. Intuit Enterprise Suite annualized revenue surpassed 145 million dollars in the fourth quarter, showing a four-fold increase from the prior year, with mid-market new-to-the-franchise customer additions growing over 30 percent. The industry-specific Construction Edition drove 19 points of growth in QuickBooks Online Advanced customer additions within the construction vertical. Additionally, Intuit launched the AI-native Intuit Accountant Suite this month, which brings together practice management, bookkeeping, and tax workflows. Looking forward, Intuit provided guidance for fiscal year 2027, expecting total company revenue to range between 23.279 billion dollars and 23.512 billion dollars, representing growth of 9 to 10 percent. Deceleration in revenue growth is primarily driven by desktop ecosystem, TurboTax, and Credit Karma. Global Business Solutions segment revenue is projected to grow 13 to 14 percent, while Consumer segment revenue growth is expected to be 4 to 6 percent, with TurboTax growing 2 to 3 percent due to lower initial DIY pricing. For the full year, GAAP diluted earnings per share is expected to be 20.12 dollars to 20.36 dollars (growth of 22 to 24 percent), and non-GAAP diluted earnings per share is expected to be 22.88 dollars to 23.12 dollars (growth of 23 to 24 percent). Over the longer term, Intuit aims to return to a double-digit revenue growth rate, with segment target three-year compound annual growth rates of 10 to 15 percent for Global Business Solutions and 4 to 8 percent for the Consumer segment. Since Mailchimp is transitioning into a separate reportable segment starting next year, I could chart its standalone revenue trends versus QuickBooks Online to highlight their relative performance scales before the formal segment separation.

    Intuit Inc. (INTU) Announced Q4 2026 Earnings on August 25, 2026, Reporting "revenue of $4.4 billion, up 14%"

  8. 2d ago

    Zoom Communications, Inc. (ZM) Announced Q2 2027 Earnings on August 25, 2026, Reporting "total revenue grew 4.9% year-over-year to $1.28 billion"

    Zoom Communications, Inc. reported its second quarter fiscal year 2027 financial results, noting that "total revenue grew 4.9% year-over-year to $1.28 billion" or "4.7% in constant currency." The enterprise business led this expansion with "enterprise revenue growing 7.8% year-over-year," which represented 62% of Zoom's total revenue. Non-GAAP gross margin for the quarter was 79.1%, while non-GAAP income from operations grew 1% year-over-year to $510 million, yielding a non-GAAP operating margin of 40%. Non-GAAP diluted earnings per share for Q2 was $1.55 on approximately 300 million diluted shares. Zoom generated Q2 operating cash flow of $495 million and free cash flow of $472 million, ending the period with $7.2 billion in cash, cash equivalents, and marketable securities. The company also repurchased 3.7 million shares in Q2 for approximately $352 million. Founder and CEO Eric Yuan highlighted that the "enterprise acceleration was driven by our focused execution against our 3 priorities of elevating workplace with AI, scaling AI first customer experience and driving growth in new AI products." In Workplace, licensed monthly active users of AI features grew 125% year-over-year. In customer experience, "Zoom CX ARR continued to grow at a high double-digit year-over-year rate" and marked "a record for the number of 7-figure ARR deals," with paid AI included in nine of the top ten Zoom CX deals. Zoom Virtual Agent customer count grew more than 250% year-over-year, and Zoom Phone annual recurring revenue continued to grow in the teens. Workvivo also reached a significant milestone, surpassing $100 million in ARR.Product developments featured the June release of Zoom Mate, which brings "productivity tools, agentic search and agentic workflows" to users. Zoom also expanded its sales orchestration offering with the mid-July acquisition of Common Room, which was noted as "Zoom's largest acquisition to date," adding buyer intelligence alongside Zoom Revenue Accelerator, which grew its paid customer count by 41% year-over-year. To optimize cash flow, Chief Financial Officer Michelle Chang explained that the company chose to "simply extend in 1 of our data centers, the useful life of the asset by 2 years," which reduced capital expenditures for the year and supported an upgraded free cash flow outlook. For the third quarter of fiscal year 2027, Zoom expects revenue in the range of $1.275 billion to $1.28 billion, non-GAAP operating income between $510 million and $515 million, and non-GAAP earnings per share of $1.46 to $1.48. For the full fiscal year 2027, the company raised its guidance, expecting total revenue in the range of $5.085 billion to $5.095 billion and non-GAAP earnings per share of $6.08 to $6.12. Full-year non-GAAP operating income is guided to be in the range of $2.065 billion to $2.075 billion, and full-year free cash flow guidance was raised to a range of $1.78 billion to $1.82 billion.

    Zoom Communications, Inc. (ZM) Announced Q2 2027 Earnings on August 25, 2026, Reporting "total revenue grew 4.9% year-over-year to $1.28 billion"
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We turn quarterly earnings calls into a fast-paced financial comedic debate. Our AI hosts (one skeptic and one optimist) agree on almost nothing. We cut through jargon, pressure-test claims, and spotlight the questions that matter. Rigorous analysis. Actual laughs. On the beat so you don't miss a beat.

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