This week was a rollercoaster ride for the market, with several major companies reporting their quarterly earnings.
From Palantir Technologies posting an ‘otherworldly’ Q2 to SpaceX reporting its first quarterly earnings since its public debut, the week was filled with surprises. Advanced Micro Devices also delivered a double beat in Q2, while Warner Bros. Discovery hinted at a strong HBO year.
Meanwhile, Paramount CEO David Ellison expressed confidence in the Warner Bros. deal, and Walt Disney found its magic again with a streaming surge and theme park strength.
Palantir’s ‘Otherworldly’ Q2
Palantir reported a second-quarter revenue of $1.94 billion, surpassing analyst estimates of $1.80 billion. The AI software company’s adjusted earnings were 41 cents per share for the quarter, beating estimates of 35 cents per share. U.S. Commercial revenue increased 149% year-over-year to $764 million, and U.S. Government revenue jumped 90% year-over-year to $809 million.
SpaceX Revenue Surges 92% as Backlog Hits $47.5 Billion
Space giant SpaceX reported its first quarterly financial results as a public company. The company’s revenue was up 92%, and its backlog hit $47.5 billion.
AMD’s Double Beat in Q2
AMD reported second-quarter revenue of $11.54 billion, beating analyst estimates of $11.28 billion. The chipmaker reported adjusted earnings of $1.66 per share for the quarter, beating estimates of $1.61 per share.
Warner Bros. Discovery’s Strong HBO Year
Warner Bros. Discovery reported second-quarter revenue of $8.72 billion, down 12% year over year. However, earnings came in at 6 cents per share, beating expectations for a loss of 13 cents per share.
Paramount’s Antitrust Lawsuit
Paramount CEO David Ellison expressed confidence in the Warner Bros. deal, stating that the antitrust lawsuit is not about market share but about trust.
Disney’s Streaming Surge
Walt Disney reported adjusted earnings of $2.06 per share, beating the analyst consensus estimate of $1.86. Revenue rose 7% year over year to $25.25 billion. Direct-to-consumer streaming revenue climbed 11% to $5.53 billion.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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