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For the quarter ended September 2026, Eastman Chemical (EMN - Free Report) reported revenue of $2.39 billion, up 8.3% over the same period last year. EPS came in at $1.84, compared to $1.14 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.39 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of -4.17%, with the consensus EPS estimate being $1.92.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Eastman Chemical performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales- Chemical Intermediates: $580 million versus the five-analyst average estimate of $589.15 million. The reported number represents a year-over-year change of +16.2%.Net Sales- Fibers: $255 million compared to the $253.54 million average estimate based on five analysts. The reported number represents a change of +0.4% year over year.Net Sales- Advanced Materials: $762 million versus $779.26 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.Net Sales- Additives & Functional Products: $784 million compared to the $760.37 million average estimate based on five analysts. The reported number represents a change of +9.5% year over year.Net Sales- Other: $4 million versus the three-analyst average estimate of $3.33 million. The reported number represents a year-over-year change of -20%.Adjusted EBIT- Additives & Functional Products: $154 million compared to the $139.64 million average estimate based on five analysts.Adjusted EBIT- Advanced Materials: $103 million compared to the $117.48 million average estimate based on five analysts.Adjusted EBIT- Chemical Intermediates: $35 million versus the five-analyst average estimate of $35.25 million.Adjusted EBIT- Other: $-39 million compared to the $-34.47 million average estimate based on five analysts.Adjusted EBIT- Fibers: $52 million versus $56.1 million estimated by five analysts on average.View all Key Company Metrics for Eastman Chemical here>>>

Shares of Eastman Chemical have returned +2.8% over the past month versus the Zacks S&P 500 composite's +0.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

Sterling Infrastructure, Inc. ( STRL ) Q3 2026 Earnings Call October 29, 2026 9:00 AM EDT Company Participants Noelle Dilts - Vice President of Investor Relations & Corporate Strategy Joseph Cutillo - CEO, President & Director Daniel Govin - Chief Operating Officer Nicholas Grindstaff - Chief Financial Officer Conference Call Participants Manish Somaiya - Cantor Fitzgerald & Co., Research Division Brent Thielman - Oppenheimer & Co. Inc., Research Division Noah Levitz - William Blair & Company L.L.C., Research Division Kurt Yinger - D.A.

Bristol Myers Squibb's Cancer Breakthrough Could Have Implications Beyond Its Own StockExelixis NASDAQ: EXEL reported third-quarter 2026 revenue of approximately $659 million, supported by continued growth in its cabozantinib franchise and progress toward a potential launch of zanzalintinib in colorectal cancer.

Chief Executive Officer Mike Morrissey said the company is positioning zanzalintinib, also called zanza, as its second potential oncology franchise alongside CABOMETYX. He said CABOMETYX’s third-quarter performance reinforced management’s confidence in the product’s long-term growth trajectory, while zanza remains the company’s top research and development priority.

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Exelixis Reports Solid Earnings—Are New Highs Back on the Table?“Zanza is in the spotlight as our next potential franchise opportunity,” Morrissey said, pointing to ongoing pivotal trials and a planned second wave of potential pivotal studies across genitourinary, gastrointestinal and other tumor types.

Third-quarter financial results
Cabozantinib franchise U.S. net product revenue rose about 11% year over year to $605 million during the quarter. CABOMETYX net product revenue totaled $603 million and did not include clinical-trial sales. Chief Financial Officer Chris Senner said clinical-trial sales have historically varied between quarters and are expected to remain uneven.

3 Stocks to Buy for a Soft Landing, If There Is OneGlobal cabozantinib franchise net product revenue, including sales from Exelixis and its partners, increased approximately 11% year over year to $818 million. Total revenue also included about $52 million in royalties from partners Ipsen and Takeda on their cabozantinib sales.

Exelixis reported GAAP net income of approximately $218 million, or $0.85 per diluted share, for the third quarter. Non-GAAP net income was approximately $240 million, or $0.94 per diluted share, excluding about $22 million of stock-based compensation expense net of related tax effects.

Total operating expenses were approximately $390 million, up from $380 million in the second quarter. Senner attributed the sequential increase primarily to higher legal and advisory fees, marketing expenses and cost of goods sold, partially offset by lower license and collaboration costs.

The company ended the quarter with approximately $1.4 billion in cash and marketable securities. During the quarter, it repurchased roughly $250 million of common stock, retiring about 4.5 million shares at an average price of $55.77 per share. About $348 million remained available under the company’s $750 million share-repurchase authorization as of Sept. 30.

Senner said the company updated its full-year gross-to-net deduction estimate to approximately 30%. Third-quarter gross-to-net deductions were approximately 29%, lower than the prior quarter primarily because of lower 340B discounts.

Zanzalintinib development advances
Executive Vice President of Research and Development Dana Aftab said Exelixis has seven ongoing potentially label-enabling zanza trials, which it calls its Wave 1 program. The company is also planning Wave 2 studies designed to explore additional tumor types and combinations with immunotherapies, chemotherapy and other treatment approaches.

The company’s updated Prescription Drug User Fee Act action date for its zanza new drug application based on the STELLAR-303 trial in colorectal cancer is March 3, 2027.

Exelixis said sites are activated and enrolling patients in STELLAR-316, a Phase III study of zanza with and without subcutaneous pembrolizumab in patients with resected stage 2 or 3 colorectal cancer who test positive for molecular residual disease following definitive therapy but have no radiographic evidence of disease.

In kidney cancer, Exelixis expects top-line results from its STELLAR-304 Phase III study in non-clear cell renal cell carcinoma during the first quarter of 2027. The trial compares zanza plus nivolumab with sunitinib. Aftab said the company is approaching a clinical data cutoff, which is driving the timing expectation.

The company also highlighted continued enrollment in its STELLAR-311 trial in neuroendocrine tumors and STELLAR-201 trial in recurrent meningioma. Separately, it initiated enrollment in STELLAR-202, a Phase II study evaluating zanza plus pembrolizumab in squamous non-small cell lung cancer following induction treatment with pembrolizumab and chemotherapy.

Exelixis is also exploring zanza combinations in bladder cancer, including in patients previously treated with enfortumab vedotin and a PD-1 inhibitor, as well as a zanza-docetaxel combination in metastatic castration-resistant prostate cancer. The company said it has begun enrolling a cohort combining zanza with its XB628 bispecific immunotherapy in a Phase I trial.

Aftab additionally announced XL558, a selective somatostatin receptor 2 agonist, as a newly nominated development candidate. Exelixis plans to submit an investigational new drug application for XL558 later in 2026.

CABOMETYX demand remains strong
Executive Vice President of Commercial PJ Haley said CABOMETYX continued to gain demand in renal cell carcinoma and neuroendocrine tumors. In an oral TKI market basket that includes CABOMETYX, lenvatinib, axitinib, sunitinib and pazopanib, CABOMETYX’s total prescription share rose to 49% in the third quarter from 46% a year earlier. Its prescription volume increased 13%, compared with 6% growth for the market basket.

Haley said CABOMETYX remains the leading TKI-plus-immunotherapy combination in renal cell carcinoma through its combination with nivolumab, while it is also the leading oral therapy in the second-line-plus neuroendocrine tumor setting.

In neuroendocrine tumors, CABOMETYX’s second-line-plus new-patient oral market share exceeded 50%, according to Haley. He said the company expects refills to increase as more patients remain on treatment, while its expanded gastrointestinal sales team has activated more than 1,000 unique neuroendocrine tumor prescribers since launch.

Potential colorectal cancer opportunity
Pending regulatory approval, Exelixis sees zanza’s potential third-line-plus colorectal cancer launch as an opportunity to build on its commercial presence in community oncology. Haley estimated the U.S. third-line-plus colorectal cancer setting includes approximately 23,000 patients and represents an approximately $1.5 billion market opportunity using contemporary pricing.

He said roughly 70% of colorectal cancer prescribers overlap with CABOMETYX prescribers, with overlap rising to 90% when co-located addresses are included. Exelixis believes its established community-based commercial capabilities could support a potential zanza launch in the indication.

About Exelixis (NASDAQ:EXEL)Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company's research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis' lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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MasTec (MTZ - Free Report) came out with quarterly earnings of $2.96 per share, beating the Zacks Consensus Estimate of $2.94 per share. This compares to earnings of $2.48 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +0.68%. A quarter ago, it was expected that this utility contractor would post earnings of $2.19 per share when it actually produced earnings of $2.22, delivering a surprise of +1.37%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

MasTec, which belongs to the Zacks Building Products - Heavy Construction industry, posted revenues of $5.15 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 4.27%. This compares to year-ago revenues of $3.97 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

MasTec shares have lost about 16.7% since the beginning of the year versus the S&P 500's gain of 13.1%.

What's Next for MasTec?While MasTec has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for MasTec was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.69 on $5.03 billion in revenues for the coming quarter and $9.27 on $18.19 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Heavy Construction is currently in the bottom 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Primoris Services (PRIM - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on November 3.

This construction contractor is expected to post quarterly earnings of $0.75 per share in its upcoming report, which represents a year-over-year change of -60.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Primoris Services' revenues are expected to be $2.04 billion, down 6.5% from the year-ago quarter.

EUR/USD is gaining momentum as falling Treasury yields undermine the US dollar, despite stronger GDP growth and stubborn inflation. With record bearish positioning in euro futures and the Fed reluctant to signal further tightening, the short squeeze could have further to run.

New York, New York--(Newsfile Corp. - October 29, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Doximity, Inc. (NYSE: DOCS) between August 8, 2024 and May 13, 2026, both dates inclusive (the "Class Period"), of the important November 16, 2026 lead plaintiff deadline. SO WHAT: If you purchased Doximity common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

New York, New York--(Newsfile Corp. - October 29, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of AST SpaceMobile, Inc. (NASDAQ: ASTS) between March 4, 2025 and July 15, 2026, inclusive (the "Class Period"), of the important November 13, 2026 lead plaintiff deadline.

SO WHAT: If you purchased AST SpaceMobile securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the AST SpaceMobile class action, go to https://rosenlegal.com/cases/ast-spacemobile-inc-2026/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) AST SpaceMobile's increasing capital requirements were likely to increase AST SpaceMobile's debt load and share dilution with greater frequency and at greater scale than defendants had signaled to investors; (2) accordingly, defendants had overstated the sufficiency of AST SpaceMobile's capital and liquidity position to achieve AST SpaceMobile's strategic and business goals; (3) defendants likewise overstated the durability of AST SpaceMobile's competitive position in the satellite D2C market; (4) even following the EchoStar Transaction, defendants continued overstating AST SpaceMobile's competitive position in the satellite D2C market; (5) AST SpaceMobile was experiencing slow user adoption in the U.S. and Japan; (6) the foregoing was likely to have a significant negative impact on AST SpaceMobile's business and financial prospects; and (7) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the AST SpaceMobile class action, go to https://rosenlegal.com/cases/ast-spacemobile-inc-2026/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321709

Source: The Rosen Law Firm PA

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Injective is bringing together some of the biggest names in technology, tokenization, artificial intelligence, and global finance for its first ever Hacker House.

From December 1 to 10, 2026, 20 selected teams will live and build alongside the Injective core team, gaining direct access to industry leaders from Amazon Web Services (AWS), Animoca Brands, SMBC Nikko, Bittensor, Ninja Labs, and Gulf Labs. Co-organized with HackQuest, the 10 day program will focus on building the next generation of onchain applications spanning real world assets (RWAs), privacy, and agentic finance, with developers receiving hands-on technical mentorship, cloud infrastructure, potential grant funding, and support to bring their products to market.

Applications are open until November 10. Apply at injectivehackerhouse.com.

The Teams Behind the Hacker House

The Injective Hacker House brings together an impressive group of organizations spanning traditional finance, artificial intelligence, cloud infrastructure, and Web3. Participating teams will gain direct access to experts from AWS, Animoca Brands, SMBC Nikko, Bittensor and Gulf Labs, alongside Injective's core developers and HackQuest's global builder network.

AWS will provide cloud infrastructure support and credits for participating developers, while Animoca Brands brings its extensive experience investing in and supporting Web3 companies. SMBC Nikko, part of one of Japan's largest financial groups, contributes expertise in institutional capital markets, while Bittensor brings its knowledge of decentralized AI and machine intelligence.

Ninja Labs will provide opportunities for standout projects to receive milestone grants and continued incubation, while Gulf Labs will support the program through regional expertise and mentorship. HackQuest will co-organize the Hacker House, drawing on its network of more than 14,000 builders and experience running developer programs globally.

The program will also feature mentorship from Injective Co-founder and CEO Eric Chen, alongside representatives from participating organizations. Selected teams will have opportunities to engage directly with industry leaders, receive technical guidance, and develop relationships that extend beyond the 10 day program.

Building on Injective's Latest Financial PrimitivesThe Hacker House follows several major developments across Injective's financial infrastructure, creating new opportunities for developers building AI applications onchain.

Recent institutional milestones include Pineapple Financial bringing more than $1 billion in mortgage records onto Injective, the launch of Injective Mint for institutional tokenization, and Injective Institutional Services becoming an SEC registered transfer agent. Together, these advances expand the infrastructure available for building applications around tokenized assets and traditional financial markets.

Injective has also introduced two new financial primitives in consecutive days. The Super Intelligence Compute Index ($SICI) brings NVIDIA GPU rental prices onchain through a new perpetual market, while Injective's options primitive enables developers to create their own white label options exchanges, derivatives protocols, and customized financial products.

These developments give participating teams access to new markets and financial infrastructure that can be integrated directly into AI applications, from autonomous trading agents to financial products built around compute, derivatives, and tokenized assets.

Meet the MentorsThroughout the program, selected teams will work directly with Injective's core developers and receive guidance from executives, engineers, and industry experts representing the participating organizations.

The mentor lineup includes Eric Chen, Co-founder and CEO of Injective, alongside other members of Injective's leadership and developer ecosystem teams. Participants will also have access to representatives from organizations including Animoca Brands, SMBC Nikko, Gulf Labs, Bittensor, and HackQuest.

Mentorship will extend beyond technical development. Founders will have opportunities to discuss product strategy, institutional use cases, fundraising, and the challenges involved in bringing new financial applications to market. Developers will also be able to work directly with the Injective core team on protocol integrations, smart contract architecture, and the implementation of new financial primitives.

Additional mentors and industry participants will be announced leading up to the event, with the latest lineup available at injectivehackerhouse.com.

Ten Days of Building in BangkokThe Injective Hacker House will bring 20 teams together from December 1 to 10 for an intensive development program. Unlike traditional hackathons that center on a single weekend of development, the extended format gives teams time to work through technical challenges, receive ongoing feedback, and make meaningful progress toward launching their applications.

The program will be organized around four main stages:

Kickoff and Project Introductions

The Hacker House begins on December 1 with introductions, project presentations, and initial discussions with mentors. Each team will outline its development objectives for the 10 days, identify the challenges it hopes to address, and connect with the technical and industry experts most relevant to its project.

Direct Technical Mentorship

Teams will work alongside the Injective core team throughout the residency, with direct support for technical integrations, application architecture, and protocol development. Participants building around Injective's financial modules, tokenization infrastructure, or new options primitive will be able to discuss implementation directly with developers familiar with the underlying systems.

Workshops and Industry Office Hours

A series of workshops and office hours will bring together mentors from Injective and supporting organizations to cover technical development, AI infrastructure, financial products, and go to market strategy. These sessions will complement the time participants spend working on their projects, with opportunities for individual feedback and discussions around specific development challenges.

Demo Day

On December 9, the program will culminate in Demo Day, where participating teams will present their applications to Injective leadership, ecosystem partners, and invited industry experts. Projects demonstrating strong execution and long-term potential may qualify for Ninja Labs milestone grants, further technical resources, and continued incubation through the Injective ecosystem.

The program concludes on December 10, with selected teams able to continue working with Injective and its ecosystem partners after the residency.

What Selected Teams ReceiveThe Injective Hacker House is designed to remove many of the logistical and technical barriers that can slow down early development, allowing founders to dedicate their time in Bangkok to building.

Selected teams will receive accommodation and meals for the duration of the program, along with financial contributions toward travel. Each eligible participating entity will also receive AWS cloud credits, providing access to infrastructure resources that can support the development and deployment of AI applications.

Beyond these resources, the program offers something that is often considerably harder for early-stage founders to access: sustained time with the engineers building the underlying protocol and direct engagement with industry experts from major technology and financial organizations.

Participants will have opportunities to work with Injective's development team throughout the residency, receive feedback from mentors affiliated with participating organizations, and present their projects during Demo Day. Standout projects may also receive Ninja Labs milestone grants and continued ecosystem support, including additional assistance with development, integrations, and commercialization.

The objective is for teams to leave Bangkok with more than a prototype. By the end of the program, participants should have made meaningful progress on a working product, developed relationships with other builders and mentors, and established a clearer path for continuing development within the Injective ecosystem.

Who Should Apply?The program is open to AI founders and developers who are already building on Injective and are ready to make substantial progress on their applications.

Projects exploring autonomous trading agents, AI payment systems, RWAs, perpetuals, decentralized AI infrastructure, privacy, options and other applications using Injective's native financial modules are particularly relevant to the program. Teams working on new use cases beyond these categories are also encouraged to apply, provided their applications are focused on AI and actively being developed on Injective.

All participating teams must be able to communicate in English and commit to attending the full 10 day program in Bangkok. With only 20 teams selected, the program will prioritize founders who can demonstrate existing development progress, a clear product direction, and the ability to make effective use of the technical mentorship and resources available.

How to ApplyApplications are open now and will close on November 10, 2026.

Prospective participants can review the full program overview, eligibility requirements, and frequently asked questions at injectivehackerhouse.com, where applications can also be submitted.

Selected teams will be contacted by email or Telegram in mid-November and provided with further information about travel arrangements, accommodation, and program preparation. Participants will then arrive in Bangkok for the December 1 kickoff, with Demo Day scheduled for December 9 and the program concluding December 10.

Injective Hacker House does not charge application fees, deposits, or crypto payments. Any individual requesting payment on behalf of the program is not affiliated with the official event. Questions can be directed to [email protected].

Come Build With UsThe Injective Hacker House brings together developers, engineers, investors, and financial industry experts at a time when AI is beginning to take a more active role in global financial markets.

With the introduction of new infrastructure for institutional tokenization, AI compute markets, and onchain options, developers now have access to a broader range of financial primitives on Injective than ever before. The Bangkok program is an opportunity to put those capabilities to work, with direct support from the teams developing the infrastructure and from major organizations across AI, Web3, and traditional finance.

For founders already building on Injective, the next step is to apply.

Applications close November 10, 2026. Visit injectivehackerhouse.com to apply.

About Injective

Injective is the first blockchain purpose-built for finance, enabling users, institutions, and AI agents to trade, tokenize, and transact at scale. Proudly made in America, Injective provides foundational blockchain infrastructure for global markets, with embedded financial primitives spanning stablecoins, real-world assets, payments, and programmable perpetuals through a unified onchain engine. Injective is used by Fortune 500 companies, banks, fintechs, and governments to power an open economy where any asset can be accessed anytime, from anywhere. Builders can deploy across multiple virtual machines like WASM and EVM, connect to native financial modules, and launch markets with deep liquidity from day one. INJ is the native token powering the rapidly growing Injective ecosystem and the new internet economy.

Website | Telegram | Discord | Blog | Twitter | YouTube | Facebook | LinkedIn | Reddit | Instagram | Orbit Newsletter
 

About HackquestHackQuest is the world’s largest builder onboarding platform, with over 1 million users and a network of 14,000+ high-quality builders. We provide end-to-end ecosystem-building support, from developer education to hackathons, community events, accelerators and more, helping partners scale ecosystems and onboard high-quality, long-term projects. To date, we have raised $5M backed by leading investors.

Website | Telegram | Twitter

New York, New York--(Newsfile Corp. - October 29, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of D-Wave Quantum Inc. (NASDAQ: QBTS) between February 26, 2026 and August 25, 2026, both dates inclusive (the "Class Period"), of the important December 15, 2026 lead plaintiff deadline. SO WHAT: If you purchased D-Wave securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Eldorado Gold Corporation ( ELD:CA ) Q3 2026 Earnings Call October 29, 2026 9:00 AM EDT Company Participants Lynette Gould - Vice President of Investor Relations, Communications & External Affairs Christian Milau - President, CEO & Director Paul Ferneyhough - CFO & Executive VP of Strategy Simon Hille - Executive VP & COO Conference Call Participants Cosmos Chiu - CIBC Capital Markets, Research Division Tanya Jakusconek - Scotiabank Global Banking and Markets, Research Division Ralph Profiti - Stifel Nicolaus Canada Inc., Research Division Lawson Winder - BofA Securities, Research Division Harrison Reynolds - RBC Capital Markets, Research Division Presentation Operator Thank you for standing by. This is the conference operator.

OneSpan (OSPN - Free Report) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +59.09%. A quarter ago, it was expected that this internet security company would post earnings of $0.25 per share when it actually produced earnings of $0.3, delivering a surprise of +20%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

OneSpan, which belongs to the Zacks Internet - Software industry, posted revenues of $63.89 million for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 11.49%. This compares to year-ago revenues of $57.06 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

OneSpan shares have added about 56.4% since the beginning of the year versus the S&P 500's gain of 13.1%.

What's Next for OneSpan?While OneSpan has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for OneSpan was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.33 on $66.61 million in revenues for the coming quarter and $1.24 on $250.31 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Snap (SNAP - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on November 4.

This company behind Snapchat is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +166.7%. The consensus EPS estimate for the quarter has been revised 3.5% lower over the last 30 days to the current level.

Snap's revenues are expected to be $1.72 billion, up 14.3% from the year-ago quarter.

Copa Holdings (CPA - Free Report) ended the recent trading session at $131.26, demonstrating a +1.05% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.31%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 1.38%.

Shares of the holding company for Panama's national airline witnessed a loss of 1.48% over the previous month, trailing the performance of the Transportation sector with its gain of 2.76%, and the S&P 500's gain of 0.87%.

The upcoming earnings release of Copa Holdings will be of great interest to investors. The company's earnings report is expected on November 18, 2026. The company's upcoming EPS is projected at $4, signifying a 4.76% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.18 billion, indicating a 28.87% upward movement from the same quarter last year.

CPA's full-year Zacks Consensus Estimates are calling for earnings of $14.78 per share and revenue of $4.49 billion. These results would represent year-over-year changes of -9.21% and +24.2%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for Copa Holdings. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.9% lower. Copa Holdings presently features a Zacks Rank of #4 (Sell).

From a valuation perspective, Copa Holdings is currently exchanging hands at a Forward P/E ratio of 8.79. This indicates a discount in contrast to its industry's Forward P/E of 12.52.

Meanwhile, CPA's PEG ratio is currently 1.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Airline industry currently had an average PEG ratio of 1.09 as of yesterday's close.

The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 231, positioning it in the bottom 7% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

The Binance hack has been confirmed, and it is the largest cryptocurrency hack in history. Blockchain investigators traced up to $5.5 billion in suspicious transfers from the exchange’s hot wallets on Thursday.

Stablecoin issuers have already intervened. Tether confirmed freezing more than $1.567 billion in USDT, while Circle blocked more than $800 million in USDC. 

Ripple also reportedly froze approximately $200 million.

Tether froze more than 1.567B USDT related to a potential Binance exchange hack.

Protecting the industry and our partners is our main priority.

Stay safe everyone.

— Paolo Ardoino 🤖 (@paoloardoino) October 29, 2026 That brings the reported frozen amount to nearly $2.6 billion, although the total stolen remains unconfirmed. 

As of writing, both Binance exchange withdrawals and Binance Alpha trading remain suspended. 

The incident added pressure to an already falling crypto market. Bitcoin dropped below $79,000, while BNB fell sharply.

How Did the Binance Hack Happen? Security researchers suspect attackers exploited an Ethereum feature called EIP-7702 to gain control of a Binance hot wallet.

1. The Attacker Gained Control of Wallet Permissions EIP-7702 allows an ordinary Ethereum wallet to authorize a smart contract to act on its behalf.

Investigators found that Binance’s wallet appeared to have delegated control to an unverified contract. How the attacker obtained the required authorization remains unknown.

2. The Attacker Tried 50 Authorizations Researchers say the attacker submitted 50 signed authorizations with different transaction sequence numbers, known as nonces.

Binance’s wallet was processing transactions continuously. Only the authorization matching its current sequence number succeeded.

That allowed the malicious contract to become active.

The attacker didn't know Binance 14's live nonce.

So they sprayed 50 EIP-7702 auths (18914775-18914824) in one type-4 tx.

Only 1 of 50 was a hit.

A 7702 auth is valid only for the current nonce at inclusion. The hot wallet was still firing. One nonce in that window landed. https://t.co/ZjjayMIIHi pic.twitter.com/XFWqW6ezXw

— Blockaid (@blockaid_) October 29, 2026 3. The Contract Began Draining Funds The contract reportedly contained functions designed to withdraw ETH and other tokens.

Within minutes, approximately 167,464 ETH and 1.615 billion USDT were transferred from Binance 14, alongside dozens of other cryptocurrencies.

Funds subsequently moved through this receiving address.

4. The Threat Could Continue Researchers warned that the malicious delegation could remain active until replaced or revoked.

That means newly deposited funds could also be exposed if the affected wallet continued operating under attacker-controlled code.

Binance has not published a technical explanation confirming this attack mechanism.

As part of our ongoing security measures, Binance Alpha trading has been temporarily suspended – CEX Buy Token/Alpha instant/CEX purchase prediction marketing using fund in spot wallet.

Trading will resume once the security issue is resolved.

User funds remain safe. We’ll keep… pic.twitter.com/xk9FXB9Hac

— Binance (@binance) October 29, 2026 What Should Binance Users Do Right Now? Hot wallets are internet-connected exchange wallets used to process customer transactions. Their exposure does not automatically mean individual customer accounts have been compromised.

Users should take the following precautions:

Check official Binance updates. Monitor withdrawal availability through the Binance app or website. Avoid suspicious links. Ignore messages offering hack compensation, emergency withdrawals or account recovery. Enable two-factor authentication. Prefer an authenticator app or security key. Verify withdrawal addresses. Check the entire address before transferring funds. Address-poisoning scams can place lookalike addresses in transaction histories. Never share recovery phrases or private keys. Binance support will not need them. Binance says user funds remain safe. The final extent of the suspected breach, including any customer losses, is still under investigation.

Whale Closes $80.56M $ETH Position to Avoid Liquidation, Down $38M

The whale holding a 93,184 $ETH ($214M) long closed 36,517 $ETH ($80.56M) to avoid liquidation and still holds 56,667 $ETH ($125M).
New liquidation prices: $2,122.44 and $2,129.72.
The whale has lost over $38M in total.

2 minutes ago

Trader 'Maji' suffered 8 consecutive liquidations amid the price decline, with their Hyperliquid account balance now standing at just $1.5.

According to Lookonchain monitoring, crypto personality "Big Brother Ma Ji" Huang Lichang has been liquidated 8 times consecutively over the past six hours, with all his positions cleared, leaving his Hyperliquid account with a balance of just $1.50.

2 minutes ago

EIP-7702 developer: EIP-7702 itself has no vulnerabilities, but it accelerated the transfer of stolen assets from Binance's hot wallet.

ZeroDev founder and EIP-7702-related developer Derek Chiang stated in a post that EIP-7702 itself has no flaws, and users of wallets supporting the standard—including MetaMask, Uniswap, and Ambire—need not panic. The account abstraction proposal allows external accounts to insert smart contracts after signing an authorization, enabling batch transactions such as one-click authorization and swaps. However, this same functionality lets attackers transfer all tokens in a single transaction. In the Binance hot wallet breach, attackers exploited this to siphon ETH, USDT, and 62 other tokens in one transaction. Without EIP-7702, attackers would have had to initiate separate transactions for each token, potentially competing with the exchange’s normal withdrawals for nonce values, so EIP-7702 enabled attackers to steal funds faster and in larger volumes. Chiang noted that for attackers to use EIP-7702, they either need access to a private key or to trick Binance into signing an EIP-7702 authorization; the latter scenario is unlikely but cannot be ruled out ahead of the official post-mortem. His advice to wallet developers and hot wallet operators: never expose interfaces that request EIP-7702 authorization or sign raw messages to the public, and users should opt for well-known wallets.

2 minutes ago

South Korea's KOSPI index extended its decline to 5%, with SK Hynix falling nearly 9%.

According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5%, SK Hynix is down nearly 9%, and Samsung Electronics has fallen more than 5%.

2 minutes ago

Trader 0x8add shorts 22,047 $ETH & 620.7 $BTC post-Binance hack, gains $2.29M

Right after the Binance hack, trader 0x8add went short 22,047 $ETH ($48.89M) and 620.7 $BTC ($47.89M) with max leverage.
He's now sitting on $2.29M in unrealized profit.

2 minutes ago

Following Binance's hack, a trader took a fully leveraged short position on ETH and BTC, logging an unrealized profit of approximately $2.29 million.

According to Lookonchain’s monitoring, following the Binance hack incident, trader 0x8add opened a fully leveraged short position on 22,047 ETH (valued at $48.89 million) and 620.7 BTC (valued at $47.89 million), with an unrealized profit of approximately $2.29 million so far.

2 minutes ago

On Friday, the People's Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7138 compared to the previous day's fix of 6.7147 and 6.6548 Reuters estimate.

Hippo Holdings Inc. ( HIPO ) Q3 2026 Earnings Call October 29, 2026 8:00 AM EDT Company Participants Charles Sebaski - Head of Investor Relations Richard McCathron - President, CEO & Director Guy Zeltser - Chief Financial Officer Conference Call Participants Randy Binner - Texas Capital Securities Thomas Mcjoynt-Griffith - Keefe, Bruyette, & Woods, Inc., Research Division Sidney Schultz - Jefferies LLC, Research Division Presentation Operator Hello, everyone. Thank you for joining us, and welcome to the Hippo Holdings, Inc. Third Quarter 2026 Earnings Call.

CNX Resources Corporation (CNX) Q3 2026 Earnings Call October 29, 2026 10:00 AM EDT

Company Participants

Tyler Lewis - VP of Investor Relations
Alan Shepard - President, CEO & Director
Navneet Behl - Chief Operating Officer

Conference Call Participants

Gabe Daoud - Truist Securities, Inc., Research Division
Leo Mariani - ROTH Capital Partners, LLC, Research Division
Phillip Jungwirth - BMO Capital Markets Equity Research
Michael Scialla - Stephens Inc., Research Division
Wei Jiang - Barclays Bank PLC, Research Division

Presentation

Operator

Good day, and welcome to the CNX Resources Third Quarter 2026 Q&A Conference Call. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Tyler Lewis. Please go ahead.

Tyler Lewis
VP of Investor Relations

Thank you, and good morning, everybody. Welcome to CNX's Third Quarter Q&A Conference Call. Today, we will be answering questions related to our third quarter results. This morning, we posted to our Investor Relations website an updated slide presentation and detailed third quarter earnings release data such as quarterly E&P data, financial statements and non-GAAP reconciliations, which can be found in a document titled 3Q 2026 Earnings Results and Supplemental Information of CNX Resources.

Also, we posted to our Investor Relations website our prepared remarks for the quarter, which we hope everyone had a chance to read before the call, as the call today will be used exclusively for Q&A. With me today for Q&A are Alan Shepard, our President and Chief Executive Officer; Ravi Srivastava, our Chief Financial Officer; and Navneet Behl, our Chief Operating Officer. Please note that the company's remarks made during this call, including answers to questions, include forward-looking statements, which are subject to various risks and uncertainties.

These statements are not guarantees of future performance, and our actual results may differ materially as a result

Google parent Alphabet lost approximately $500 billion in market value Thursday after its shares plunged nearly 13% following disappointing quarterly earnings, marking the second-largest single-day market value loss in stock market history.

Alphabet's Class A shares closed at $283.82, down 12.64%, wiping approximately $499.8 billion from the company's market capitalization, according to The Wall Street Journal.

The sell-off followed Alphabet's third-quarter earnings report Wednesday, which showed revenue of $127.6 billion, up 25% from a year earlier but below Wall Street's expectations.

The results heightened investor concerns about the company's massive spending on artificial intelligence (AI) and slowing growth in its core search advertising business, which remains a major source of revenue.

ALPHABET, MICROSOFT EARNINGS REVEAL SURGING AI DEMAND AS SPENDING SOARS

Google CEO Sundar Pichai speaks during a Google I/O event. Alphabet shares plunged after disappointing quarterly earnings and concerns about the cost of expanding its AI operations. (David Paul Morris/Bloomberg via Getty Images, File / Getty Images)

Google Search revenue grew 12% from a year earlier, down from 17% growth in the previous quarter, adding to concerns about the company's ability to sustain growth as AI-powered search tools reshape the industry.

Alphabet spent approximately $51.4 billion on capital expenditures during the quarter, much of it directed toward data centers and computing infrastructure needed to support its expanding AI operations.

The company expects capital expenditures to reach between $195 billion and $205 billion this year, with spending projected to increase significantly in 2027, according to previous FOX Business reporting.

Despite the concerns, Alphabet's cloud computing business continued to grow rapidly. 

Google Cloud revenue more than doubled to $30.7 billion, an increase of 103% from a year earlier, exceeding analysts' expectations of $29.2 billion.

NELSON PELTZ-LED GROUP OFFERS TO BUY WENDY’S FOR $1.4B

Alphabet suffered a historic stock sell-off as investors raised concerns about its massive AI spending. (David Paul Morris/Bloomberg via Getty Images, File / Getty Images)

The growth reflects strong demand for AI services, but the costs of meeting that demand could put pressure on profitability.

Alphabet Chief Financial Officer Anat Ashkenazi warned that Google Cloud could face near-term pressure on profit margins as the company relies on outside computing capacity to meet demand, FOX Business previously reported.

Ticker Security Last Change Change % GOOGL NO DATA AVAILABLE - - - The results underscore a growing challenge for major technology companies as they pour billions into AI infrastructure while investors look for evidence that those investments will deliver sustainable profits.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Thursday's decline surpassed Alphabet's previous record single-day market value loss of approximately $275 billion in July, according to Forbes.

Nvidia holds the record for the largest single-day market value loss after shedding approximately $589 billion in January 2025.

Alphabet Inc. remains a Buy despite missing top- and bottom-line analyst expectations as underlying growth accelerates. Google Cloud revenues surged 103% YoY, driving company-wide growth and justifying heavy CapEx despite negative FCF concerns. TPUs could become a notable catalyst as OpenAI plans to purchase chips from Google. External TPU sales are a new market opportunity.

When headlines scream that a stock had its "worst day ever," it's often an exaggeration. But that wasn't the case for Google parent Alphabet (GOOG -12.29%) (GOOGL -12.64%) today.

Alphabet did, in fact, have its worst day ever today. It dropped over 13% after reporting Q3 results. That's its biggest share price drop – in both percentage and absolute dollars – since the company went public in 2004.

GOOG Alphabet$282.32-$39.57 (-12.29%)

NASDAQ · As of 4:00 PM ET 10/29/26

In terms of market capitalization, Alphabet is now worth $482 billion less than it was this morning. That's the second-largest one-day market cap drop in U.S. history. Nvidia's (NVDA -0.80%) $593 billion DeepSeek-related drop from January 2025 still holds the top spot.

Ouch.

So, how horrible were Alphabet's quarterly results to prompt this kind of sell-off?

That's the thing: they weren't that bad. Revenue and operating income soared. But there was one big number that overshadowed everything, and it's the one that mattered most to Wall Street.

Here's why the market just handed Google's parent its worst day ever, and why there might be more bad days to come for Alphabet investors.

Image source: The Motley Fool.

Record revenue meets record spendingAlphabet's quarterly revenue of $127.6 billion was a 25% increase from the prior-year quarter. This was primarily driven by a surge in Google Cloud revenues, which jumped 103% year-over-year, from $15.2 billion to $30.7 billion. According to the company, that massive increase was driven by "huge demand for... AI infrastructure and AI solutions."

Google search revenue – the company's largest revenue category – also grew, but by a lower-than-expected 12%, to $63.4 billion. That represented a slowdown from the 17% growth it saw in Q2.

That revenue gain translated to a 30% increase in operating income, thanks to an operating margin of 31.8%, up slightly from the prior year's 31%. In other words, Alphabet is making more money more efficiently.

But unfortunately for Alphabet, operating income isn't net income, and it was on the bottom line where the company ran into problems.

In Q3 2025, the company's operating income of $31.2 billion was boosted by $12.8 billion in "other income," resulting in $44 billion in earnings before taxes. This year, it was almost the reverse. Alphabet's $40.6 billion in operating income saw an $8.2 billion net decline from "other expenses," resulting in $32.4 billion of income before taxes.

That meant the bottom line was just $26.2 billion in net income, down 25% from the prior-year quarter. When you factor in the company's issuance of 36 million new shares of stock during the quarter, diluted earnings per share were just $2.12, down 26% from Q3 2025.

And you can probably guess what those "other expenses" were.

Image source: Getty Images.

It's all about AIIf you guessed AI spending, you're right!

Alphabet's capital expenditures jumped to a record $51.4 billion from $24 billion in the year-ago quarter. That was even more than the $44.9 billion it spent in Q2. As a result, it recorded its second consecutive quarter of negative free cash flow, at $9.1 billion.

The moral of the story is that AI is proving to be a double-edged sword for Google.

On the one hand, it's driving huge growth in both revenue and net income from Google Cloud, resulting in record revenue and strong growth in operating income.

On the other hand, it's costing a fortune, and right now the enormous upfront expenses are outweighing the gains. The slowing growth in Google Search revenue also raises concerns that AI agents are eroding Google Search's dominance, which could turn AI into a net negative revenue driver for the company if the trend continues.

Although rising capex, a decline in profits, and two consecutive quarters of negative cash flow aren't good, investors should remember that, at least as of now, this is still a short-term problem. If Alphabet can continue growing Google Cloud revenue and figure out how to monetize the growing number of AI searches on its platform, it could easily come out a winner.

But it's likely to take some time before that becomes clear, and in the meantime, nervous investors may not be willing to give the free-cash-flow-negative Alphabet the benefit of the doubt.

While another 13% one-day drop seems unlikely, there may be many more rough days in Alphabet's near-term future.

For the quarter ended September 2026, Amazon (AMZN - Free Report) reported revenue of $201.94 billion, up 12.1% over the same period last year. EPS came in at $1.89, compared to $1.95 in the year-ago quarter.

The reported revenue represents a surprise of -0.08% over the Zacks Consensus Estimate of $202.11 billion. With the consensus EPS estimate being $2.01, the EPS surprise was -5.97%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Amazon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Y/Y net sales growth - AWS: 39% versus the eight-analyst average estimate of 37.7%.Subscription services - Y/Y Change: 11% versus 9% estimated by six analysts on average.Advertising services - Y/Y Change: 11% versus 18.1% estimated by six analysts on average.Online stores - Y/Y Change: 2% versus 3.5% estimated by six analysts on average.Net Sales- AWS: $45.98 billion versus the 10-analyst average estimate of $45.42 billion. The reported number represents a year-over-year change of +39.3%.Net Sales- North America: $112.85 billion versus $113.39 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +6.2% change.Net Sales- International: $43.11 billion versus the eight-analyst average estimate of $43.21 billion. The reported number represents a year-over-year change of +5.4%.Net Sales- Advertising services: $19.64 billion versus the seven-analyst average estimate of $20.87 billion. The reported number represents a year-over-year change of +10.9%.Net Sales- Online stores: $68.47 billion versus $69.56 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +1.6% change.Net Sales- Subscription services: $14.01 billion compared to the $13.69 billion average estimate based on six analysts. The reported number represents a change of +11.4% year over year.Net Sales- Other: $1.65 billion versus $1.6 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +16.3% change.Net Sales- Third-party seller services: $46.49 billion versus the six-analyst average estimate of $44.83 billion. The reported number represents a year-over-year change of +9.4%.View all Key Company Metrics for Amazon here>>>

Shares of Amazon have returned +2.2% over the past month versus the Zacks S&P 500 composite's +0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Amazon.com, Inc. (AMZN) Q3 2026 Earnings Call October 29, 2026 5:00 PM EDT

Company Participants

Dave Fildes - Vice President of Investor Relations
Andrew Jassy - President, CEO & Director
Brian Olsavsky - Senior VP & CFO

Conference Call Participants

Justin Post - BofA Securities, Research Division
Brian Nowak - Morgan Stanley, Research Division
Mark Stephen Mahaney - Evercore ISI Institutional Equities, Research Division
Eric Sheridan - Goldman Sachs Group, Inc., Research Division
Douglas Anmuth - JPMorgan Chase & Co, Research Division
Ross Sandler - Barclays Bank PLC, Research Division

Presentation

Operator

Thank you for standing by. Good day, everyone, and welcome to the Amazon.com Q3 2026 Financial Results Teleconference.

[Operator Instructions]

Today's call is being recorded.

For opening remarks, I'll be turning the call over to the Vice President of Investor Relations, Mr. Dave Fildes. Thank you, sir. Please go ahead.

Dave Fildes
Vice President of Investor Relations

Hello, and welcome to our Q3 2026 financial results conference call. Joining us today to answer your questions is Andy Jassy, our CEO; and Brian Olsavsky, our CFO. As you listen to today's conference call, we encourage you to have our press release in front of you, which includes our financial results as well as metrics and commentary on the quarter. Please note, unless otherwise stated, all comparisons in this call will be against our results for the comparable period of 2025.

Our comments and responses to your questions reflect management's views as of today, October 29, 2026, only and will include forward-looking statements. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in today's press release and our filings with the SEC, including our most recent annual report on Form 10-K and subsequent filings.

During this call, we may discuss certain non-GAAP financial measures. In our press release, slides

Amazon (AMZN -4.25%) spent $77.3 billion on property and equipment in the third quarter, more than twice the $35.1 billion it spent a year earlier, according to the tech giant's latest earnings report released earlier today.

That spend helped Amazon Web Services (AWS), the company's cloud business, deliver its best growth in almost five years -- 39% year over year -- but investors are still weighing whether they're comfortable with the enormous scale of AI capital expenditures.

AMZN Amazon$243.79-$10.81 (-4.25%)

NASDAQ · As of 4:00 PM ET 10/29/26

Amazon earnings: free cash flow loss and rising debtCompanywide sales rose 12%, reaching $201.9 billion, while earnings per share (EPS) came in at $1.89, less than the $1.95 per share earned a year earlier. Both figures were below Wall Street's targets, though Amazon says shifting its massive "Prime Day" sale out of Q3 left about 4 percentage points of revenue growth on the table. And on the bottom line, the EPS hit was partly due to an unusually strong Q3 last year when the company recorded a $9.5 billion pretax gain on its stake in Anthropic, the maker of Claude.

The real concern, in my view, was cash flows. After accounting for its investments, the company was left with a free cash flow (FCF) loss of $42.4 billion over the past 12 months. A year prior, that was a $14.8 billion gain. The company still expects to spend about $220 billion on capital expenditures in 2026, so cash will still be flowing out of the door -- before any borrowing, which the company is doing quite a bit of.

The company raised $48.1 billion in long-term debt during the quarter. Its total long-term debt rose from $65.6 billion at the end of 2025 to $173.1 billion. Take a look at the chart below showing that growth.

Image source: Getty Images.

Amazon Web Services growth and the cloud spending raceWith some of that spending paying off, AWS was really the star, reaching $46.0 billion in revenue and delivering a $17.8 billion operating profit -- 63% of the company's total operating income. CEO Andy Jassy expects AWS to grow more than 40% in both 2027 and 2028 as capacity is still "largely sold out" for next year.

Amazon isn't alone in spending big to meet cloud demand. Microsoft (MSFT -0.16%) and Alphabet (GOOG -12.29%) (GOOGL -12.64%) both reported strong cloud growth yesterday, tempered by massive spending, with one key difference: Microsoft still has positive FCF, while Alphabet's FCF swung to a $9.1 billion outflow from a $24.5 billion inflow a year earlier.

AI cloud demand and Anthropic: why I'm still skepticalAWS is growing at a remarkable rate, and much of its capacity is already spoken for. So too are Microsoft's Azure and Alphabet's Google Cloud businesses. But I'm still skeptical that over time, the math will work out on these investments, and in the meantime, more debt is being introduced to the equation as spending outpaces cash generation.

And beyond this, I think investors need to consider where a lot of that demand is coming from. AI labs like Anthropic are driving a significant part of this growth and are the future demand that these companies are counting on. I'm not sure how reliable Anthropic and its rival OpenAI will be in the years to come given the enormity of their commitments.

If Anthropic's revenue growth keeps following an exponential path, that might not be a problem, but if that growth cools off -- which we are already seeing evidence of -- these hyperscalers may have a hard time collecting everything their spending plans are built on.

Microsoft Corporation remains a Buy, supported by prudent AI investments, robust cash flow, and a AAA balance sheet. Q1 2027 saw 19% revenue growth to $92.3B and 18% EPS growth to $4.89, despite a 27% drop in free cash flow. MSFT's AI-driven growth is resilient, but elevated rates and potential private-credit stress could constrain future AI funding and data center utilization.

Microsoft on Thursday announced plans to raise $25 billion in bonds, taking advantage of its healthy credit rating to support its infrastructure expansion.

The software maker holds a top-tier AAA rating with S&P, a credit agency. Management is targeting $170 billion in 2026 capital expenditures, as the company looks to meet heavy demand from artificial intelligence labs Anthropic and OpenAI, as well as other clients.

"Microsoft intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of capital stock, acquisitions, and repayment of existing debt," according to a statement. The offerings should close on Nov. 4, the company said.

Amazon and Alphabet have engaged the bond market to support infrastructure projects this year, and AI-focused cloud CoreWeave has also relied on the debt market to broaden its data center footprint. Investors have turned more skittish on companies with tall debt piles as central bankers raise interest rates to fight inflation.

Microsoft will access additional funding sources to complement its own cash flow generation when conditions are attractive, Amy Hood, its finance chief, said on the company's earnings call on Wednesday.

"There's a form of financing called leasing, and we've been using that one as a vehicle," she said. "We're fortunate to have access in the debt markets, given where our ratings are, and we haven't yet tapped that."

Microsoft reported positive free cash flow on Wednesday, differentiating itself from Alphabet, whose cash flow was negative for the second quarter in a row. Last week Meta said it had negative free cash flow, and on Thursday Amazon reported negative free cash flow.

Also on Wednesday, Oracle unveiled plans to raise $10 billion in new debt and said it anticipates a return to positive free cash flow in the second half of its 2028 fiscal year.

watch now