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. Adobe Inc. (ADBE) Announced Q2 2026 Earnings on June 11, 2026, Reporting "$6.62 billion in revenue in Q2"

    3d ago

    Adobe Inc. (ADBE) Announced Q2 2026 Earnings on June 11, 2026, Reporting "$6.62 billion in revenue in Q2"

    For the second quarter of fiscal 2026, CEO Shantanu Narayen stated that Adobe achieved "$6.62 billion in revenue in Q2". GAAP earnings per share for the quarter was $4.25, and non-GAAP earnings per share was $5.96. Senior Vice President Steve Day noted that cash flows from operations in the quarter were $2.17 billion, and total Adobe ending ARR reached $27.1 billion, which included approximately $480 million from the acquisition of Semrush. Management emphasized a strategic shift to capture a broader audience. Shantanu Narayen highlighted the opportunity to "accelerate new user acquisition and lifetime value through a freemium offering" for both Acrobat and Express, as well as a plan to "attract hundreds of millions of additional creators through a freemium funnel based on the early success of Firefly." To prioritize this user acquisition, Adobe made the decision to defer previously planned Creative Cloud second half line optimizations. Adobe also announced the departure of CFO Dan Durn, with Steve Day stepping in as interim CFO.Product and partnership announcements focused heavily on new AI capabilities. President of Creativity and Productivity David Wadhwani introduced the Adobe productivity agent for Acrobat and the Adobe Creative Agent beta. President of Customer Experience Orchestration Anil Chakravarthy highlighted native integrations with Microsoft CoPilot, Anthropic, OpenAI, and Google Gemini, alongside an NVIDIA partnership that brings CX enterprise coworker capabilities into the Nemo Claw enterprise agent platform. The company provided guidance for the third quarter of fiscal 2026, targeting total Adobe revenue of $6.67 billion to $6.72 billion. For the third quarter, GAAP EPS is targeted at $4.40 to $4.45, and non-GAAP EPS is targeted at $6.05 to $6.10. For the full fiscal year 2026, management set a total Adobe ARR growth target of 10.2 percent.

    21 min
  2. Oracle Corporation (ORCL) Announced Q4 2026 Earnings on June 10, 2026, Reporting "Revenue was $19.2 billion"

    3d ago

    Oracle Corporation (ORCL) Announced Q4 2026 Earnings on June 10, 2026, Reporting "Revenue was $19.2 billion"

    Oracle Corporation reported its fourth quarter and full fiscal year 2026 results. For the quarter, management stated that revenue was $19.2 billion. Cloud infrastructure revenue grew 93 percent, and net operating income increased 22 percent in U.S. dollars to $8.6 billion. For the full year, the company reported surpassing revenues of $67 million for the first time, generating a non-GAAP operating income of $29 billion, and achieving cash flow from operations of $32 million. The remaining performance obligations finished at $638 million. Key business updates centered on artificial intelligence and cloud infrastructure. Management highlighted the delivery of more than 1,000 AI agents across their application suites. In the AI infrastructure business, the company signed $67 billion in contracts this quarter, increasing the total combination of bring your own hardware or prepaid customer contracts to $75 billion. The company also announced a move toward outcome based commercial pricing models and the limited rollout of token bundles for accessing advanced reasoning AI capabilities. Over the fiscal year 2026, the company delivered more than 1.2 gigawatts of capacity to customers. Notable business wins included an agency-wide award for Fusion HCM from the United States Office of Personnel Management. The company also continued its deployment at the United States Department of Veterans Affairs, adding medical centers in Michigan and Ohio. Additional highlighted customers included Claro, which chose OCI and field services applications to automate customer service, and Vodafone, which selected an OCI dedicated region to consolidate operations. For forward guidance, management expects fiscal year 2027 total revenues to grow 34 percent in constant currency. The net cash outlay for capital expenditures in fiscal year 2027 is expected to be around $70 million, which excludes customer prepayments and timing impacts expected at around $20 billion to $25 billion. For the first quarter of fiscal year 2027, total revenues are expected to grow between 27 percent and 29 percent in U.S. dollars, with cloud revenues growing between 58 percent and 64 percent. Management guided first quarter non-GAAP EPS to be between $1.72 and $1.76.

    12 min
  3. lululemon athletica inc. (LULU) Announced Q1 2026 Earnings on June 4, 2026, Reporting "total net revenue rose 4% or 2% in constant currency to $2.5 billion"

    Jun 6

    lululemon athletica inc. (LULU) Announced Q1 2026 Earnings on June 4, 2026, Reporting "total net revenue rose 4% or 2% in constant currency to $2.5 billion"

    For the first quarter, Interim Co-CEO and CFO Meghan Frank reported "total net revenue rose 4% or 2% in constant currency to $2.5 billion". Gross profit for the first quarter was $1.34 billion or 54.2% of net revenue. Operating income for the quarter was $277 million, or 11.2% of net revenue. Net income for the quarter was $195 million, or $1.69 per diluted share. Inventory at the end of the first quarter was $1.7 billion. Management stated their priorities are to strengthen performance in North America while continuing to expand their global growth engine. The company noted that recent sales trends were impacted by spikes of negative commentary regarding the brand and some product launches not meeting expectations. In response, management is focusing on a three-pillar action plan including product creation, product activation, and enterprise enablement. The company is leaning into faster chase times, chasing 20% more volume this year relative to last year, and reducing their mainline product development process. In North America store channels, the company is featuring 15% fewer SKUs to better highlight new styles and innovation. The company noted good guest response to updates in key run franchises including Fast and Free, Swiftly, and Metal Vent, as well as the Day drift and Define styles. The brand held a yoga experience on The Great Wall of China and announced the return of the SeaWheeze half marathon event in Vancouver. Upcoming product launches will include warm weather styles across run, tennis, golf, and lifestyle offerings, as well as new lounge fabrics in the second half of the year. For the second quarter, management expects revenue in the range of $2.45 billion to $2.475 billion. They expect earnings per share in the second quarter to be in the range of $1.76 to $1.81. For the full year 2026, the company expects revenue to be in the range of $11 billion to $11.15 billion. For the fiscal year 2026, the company expects diluted earnings per share in the range of $10.95 to $11.15. Capital expenditures for the full year are expected to be approximately $700 million to $720 million.

    20 min
  4. ServiceTitan, Inc. Announced Q1 2027 Earnings on June 4, 2026, Reporting "Q1 total revenue of $268.8 million grew 25% year-over-year."

    Jun 6

    ServiceTitan, Inc. Announced Q1 2027 Earnings on June 4, 2026, Reporting "Q1 total revenue of $268.8 million grew 25% year-over-year."

    ServiceTitan, Inc. reported its fiscal first quarter 2027 results. For the quarter, management stated, "Q1 total revenue of $268.8 million grew 25% year-over-year." The company reported "Subscription revenue of $202 million" and "Usage revenue grew 29% year-over-year to $58.5 million." Furthermore, management noted "Q1 operating income of $40.8 million resulted in operating margin of 15.2%" and "Q1 platform gross margin was 81.3%." The company's "Q1 free cash flow was negative $9.6 million."Key business updates highlighted the company's multiyear growth vectors to build the "agentic operating system to the trades." ServiceTitan emphasized its progress in the enterprise, commercial, and roofing segments. During the quarter, the company surpassed "2,000 total customers with annualized billings greater than $100,000." Management also discussed the rapid adoption of its Max platform, noting they "more than doubled the number of locations on Max" during the first quarter and expect to "again double the number of locations on Max during Q2."In product announcements, ServiceTitan noted significant enhancements within the commercial segment, including the launch of "invoicing agents, equipment systems and enhanced CRM capabilities." For its AI and agentic workflows, the company introduced "inbound call booking automation, auto inventory replenishment and invoice protection." Additionally, the company expanded its virtual agents product line with "outbound calling and receptionist capabilities."Management provided forward guidance for the second fiscal quarter and full fiscal year 2027. For the second quarter, the company stated, "we expect total revenue in the range of $284 million to $286 million" and "operating income in the range of $38 million to $39 million." For the full fiscal year 2027, ServiceTitan expects "total revenue in the range of $1.13 billion to $1.14 billion" and "operating income in the range of $142 million to $147 million." Management also noted they now expect "incremental operating margins for the full fiscal year 2027 to be higher than our initial target of 25%."

    16 min
  5. Veeva Systems Inc. (VEEV) Announced Q1 2027 Earnings on June 3, 2026, Reporting "Total revenue in the quarter was $883 million"

    Jun 4

    Veeva Systems Inc. (VEEV) Announced Q1 2027 Earnings on June 3, 2026, Reporting "Total revenue in the quarter was $883 million"

    Veeva Systems Inc. reported fiscal 2027 first quarter financial results. For the quarter, management stated that "Total revenue in the quarter was $883 million with non-GAAP operating income of $395 million." Management also noted that the first quarter EBIT margin arrived at 45 percent. During the call, management introduced Veeva Falcon, describing it as the next chapter of their industry cloud that provides "agentic labor." This technology is designed to fully replace standard jobs within life sciences, initially focusing on the high-volume processing of clinical trial documentation and safety cases. Management also detailed the recent acquisition of Ostro, a brand engagement platform designed to help biopharma companies interact with health care professionals and patients. Furthermore, the company provided updates on its Vault CRM product, highlighting that over 150 customers are now live and over 40 migrations have been completed, including recent global wins with Teva and Merck KGaA.Looking ahead, management provided guidance for the full year, including an expected 44 percent EBIT margin. The company expects the Ostro acquisition to contribute about $10 million in the remaining three quarters, representing about two-thirds of the $15 million increase in commercial subscriptions overall for the year. Management also reiterated confidence in its trajectory for 2030, noting they are on track for their $6 billion of revenue target.

    21 min
  6. Broadcom Inc. (AVGO) Announced Q2 2026 Earnings on June 3, 2026, Reporting "total revenue reached a record $22.2 billion"

    Jun 4

    Broadcom Inc. (AVGO) Announced Q2 2026 Earnings on June 3, 2026, Reporting "total revenue reached a record $22.2 billion"

    In Q2 2026, Broadcom reported total revenue reached a record $22.2 billion, up 48 percent year-on-year. Q2 operating margin was a record 67 percent, and adjusted EBITDA was 69 percent of revenue, or $15.2 billion. Free cash flow in the quarter was a record $10.3 billion, representing 46 percent of revenue. The Semiconductor Solutions segment generated a record $15 billion in Q2 revenue, driven by AI semiconductor revenue at a record $10.8 billion. Infrastructure software revenue in Q2 was $7.2 billion. During the quarter, management noted bookings for AI semiconductors were over $30 billion. Broadcom detailed several long-term customer agreements, including an April announcement with Google to develop and supply multiple generations of TPUs and AI networking. For Anthropic, Broadcom entered an agreement to enable access to another 5 gigawatts of next-generation TPU-based compute beginning in 2027. With Meta, the company announced a partnership to deliver multiple generations of MTIA XPUs. Additionally, Broadcom is creating the AI XPU platform with Apollo and Blackstone to deploy more than 20 gigawatts of compute capacity through 2028. In software, the company released VMware Cloud Foundation 9.1 to support enterprise AI inferencing workloads. For Q3 2026, Broadcom issued guidance for consolidated revenue of $29.4 billion, up 84 percent year-on-year. Q3 semiconductor revenue is forecast at approximately $20.5 billion, with Q3 AI semiconductor revenue expected to be $16 billion. Q3 infrastructure software revenue is expected to be approximately $8.9 billion, and Q3 operating margin is expected to be 67 percent. For the full year 2026, management expects to achieve AI semiconductor revenue of $56 billion. Looking ahead, Broadcom reiterated their AI semiconductor revenue guidance to be in excess of $100 billion for fiscal year 2027.

    20 min
  7. CrowdStrike Holdings, Inc. (CRWD) Announced Q1 2027 Earnings on June 3, 2026, Reporting "total revenue of $1.39 billion"

    Jun 3

    CrowdStrike Holdings, Inc. (CRWD) Announced Q1 2027 Earnings on June 3, 2026, Reporting "total revenue of $1.39 billion"

    CrowdStrike Holdings, Inc. reported first quarter fiscal 2027 total revenue of $1.39 billion, an increase of 26% over the first quarter of last year. First quarter non-GAAP operating income was $325.7 million, representing a non-GAAP operating margin of 24%. The company generated record free cash flow of $468.5 million, or 34% of revenue, for the quarter. CrowdStrike achieved record first quarter net new ARR of $255.8 million, bringing ending ARR to $5.51 billion. Non-GAAP net income attributable to CrowdStrike was a first quarter record of $283.4 million, or $1.10 on a diluted per share basis. Management emphasized the company's position as critical AI infrastructure, highlighting a surge in demand following the release of new frontier AI models. The company highlighted its AIDR, or AI detection and response offering, which achieved ending ARR growth of more than 250% sequentially. CrowdStrike also announced it closed the acquisitions of Signal and Surafic during the quarter. Additionally, the company announced a 4-for-1 forward stock split to make ownership more accessible to investors. On the partnership front, CrowdStrike highlighted its collaboration with Anthropic and OpenAI, as well as the formation of a coalition with partners such as Accenture, EY, and IBM to unite the industry around AI readiness. For the second quarter of fiscal 2027, CrowdStrike expects total revenue in the range of $1.436 billion to $1.442 billion and non-GAAP income from operations between $346 million and $349 million. The company expects second quarter diluted non-GAAP net income per share to be approximately $1.16 to $1.17. For the full fiscal year 2027, management expects total revenue between $5.915 billion and $5.959 billion. Full year non-GAAP income from operations is expected to be between $1.452 billion and $1.480 billion, with full year net new ARR growth expected to accelerate over fiscal year 2026.

    20 min
  8. Medtronic plc (MDT) Announced Q4 2026 Earnings on June 3, 2026, Reporting "$9.8 billion in revenue" for the fourth quarter

    Jun 3

    Medtronic plc (MDT) Announced Q4 2026 Earnings on June 3, 2026, Reporting "$9.8 billion in revenue" for the fourth quarter

    Medtronic reported "$9.8 billion in revenue" for the fourth quarter of fiscal 2026, up "9.9% on a reported basis and 6.6% organically." For the full fiscal year, the company "delivered 36.4billioninrevenue."MedtronicreportedfourthquarteradjustedEPSof"1.55" and full fiscal year 2026 adjusted EPS of "$5.53." The company also reported an "adjusted gross margin was 65.4%" for the quarter and an "adjusted operating margin of 25.5%." "Free cash flow was $5.4 billion in fiscal year '26."Management highlighted strong execution across the business, noting that within Cardiac Ablation Solutions, "PFA saw exceptional global growth of 145% with Sphere-9." The company also highlighted its Symplicity Spyral therapy, noting it is "annualizing at $100 million." During the quarter, Medtronic "completed the MiniMed IPO, establishing it as a stand-alone publicly traded company."In product and M&A news, the company "submitted to the FDA for 510(k) clearance for general surgery and gynecologic indications, as well as for our LigaSure RAS vessel sealer" for the Hugo surgical robotic system. Medtronic also "closed on the Cath works transaction" and "announced plans to acquire Scientia, an SPR Therapeutics as well as investments in Beluga Medical and CardioACC."For forward guidance, Medtronic is guiding "fiscal year '27 organic revenue growth of 6.75% to 7.25%, including approximately 11.5% to 12% organic growth in the first quarter." The company is "guiding '27 EPS of $5.90 to $6." For the first quarter, management expects "EPS in the range of $1.38 to $1.40." Overall, the company expects "fiscal '27 operating margin to be up 60 basis points."

    19 min
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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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