Henry Nakamura
Henry covers quarterly results as they land, reporting on revenue, margins, and the operating details behind the headline numbers.
Articles by Henry Nakamura
Scalare Partners (ASX: SCP) Just Posted 360% Revenue Growth. Read the Filing Before the Market Does.
Lodged with the ASX on 27 February 2026. Most of the market still hasn't opened it. The investor brief has.
Adobe Lifted Its Annual Revenue and EPS Targets. It Left the ARR Growth Target Alone.
The fiscal third-quarter release raised Adobe's FY2026 revenue and earnings ranges against the targets it published in June, while the total ending ARR growth target and the non-GAAP operating margin target stayed exactly where they were. All of those figures are targets, not results.
Macy's adjusted second-quarter EPS of $0.63 includes a $0.23 net tariff refund benefit
Macy's, Inc. reported GAAP diluted earnings of $0.62 a share and adjusted diluted earnings of $0.63 for the second quarter of 2026, and said adjusted EPS was up 14% excluding the net tariff refund benefit. The company raised all four lines of its full-year outlook from the ranges it set on June 3.
GameStop's GAAP profit runs 85% above its adjusted profit, and the raised outlook tracks neither
Second-quarter net income of $298.7 million included $238.4 million of pre-tax gains the company strips out of its adjusted figures. GameStop lifted its fiscal 2026 outlook to Adjusted EBITDA above $650 million, a measure it says in the release it cannot reconcile to GAAP net income.
UNFI guides fiscal 2027 adjusted EPS growth at close to three times its adjusted EBITDA growth
Full-year GAAP diluted EPS was $1.34 against adjusted EPS of $2.65. The new outlook puts adjusted EBITDA up about 7.7% at the midpoint and adjusted EPS up about 22.6% - a gap that sits below the operating line.
Samsara's GAAP Operating Income Was $4.9 Million and Its Adjusted Operating Income Was $106.0 Million. Stock Compensation of $101.1 Million Is Almost the Whole Gap.
Fiscal second-quarter revenue of $508.4 million landed $24.4 million above the top of the range the company guided in June. GAAP earnings per share fell sequentially to $0.03 while non-GAAP earnings per share rose to $0.20.
Ciena Revenue Climbs 37% on AI Network Spending; CFO Sketches Fiscal 2027 Above $8.3 Billion
The optical networking maker posted adjusted earnings of $2.11 a share against GAAP earnings of $1.83, lifted its fiscal 2026 revenue outlook to $6.42 billion, and told analysts hyperscalers now account for roughly half its business. Premarket quotes swung from a gain to a steep loss.
Toro's GAAP Earnings Rose 50% and Its Adjusted Earnings Rose 7%: Reading a Quarter With Two Answers
The lawn and turf equipment maker posted fiscal third-quarter net sales of $1.226 billion, up 8.4%, and narrowed its full-year sales growth range upward. The distance between its two earnings presentations is the most instructive number in the release.
Medtronic grew 13.7% in a quarter that had a 53rd week in it
Medtronic reported fiscal first-quarter results before Tuesday's open, raised its full-year outlook and posted non-GAAP diluted earnings of $1.45 a share against a GAAP figure of $1.14. Buried in the release is the reason the top-line number looks the way it does: fiscal 2027 is a 53-week year, and the extra week landed in the quarter just reported.
SAIC Raised Its Full-Year Adjusted EPS Guide to $10.65-$10.75. It Earned $10.75 on That Measure Last Year.
The government-services contractor reported fiscal second-quarter results before Monday's open and lifted its fiscal 2027 outlook for the second time this year. Read the raised range against last year's actual and the ceiling is exactly flat; read it against the first half already banked and it requires a smaller second half.
Nvidia's GAAP EPS of $2.46 Came In Above Its Non-GAAP $2.22. A $7.77 Billion Equity Gain Explains the Inversion.
Nvidia posted fiscal second-quarter revenue of $96.2 billion after Wednesday's close. The rarer number is the earnings pair: GAAP earnings per share landed above the adjusted figure, not below it.
Intuit Reports Fiscal Q4 Non-GAAP EPS of $4.03 Against Its Own $3.56-$3.62 Guide, and Redefines Non-GAAP for Fiscal 2027
The quarter ended July 31 came in above every line of the guidance Intuit issued in May. Buried in the same release: effective Aug. 1, 2026, share-based compensation is no longer excluded from Intuit's non-GAAP measures, which makes the fiscal 2027 non-GAAP outlook non-comparable to the fiscal 2026 non-GAAP result printed a few paragraphs above it.
Semtech Posts Fiscal Q2 Net Sales of $341.9 Million Against a $328.0 Million Guide, With GAAP EPS of $1.59 Running Above Non-GAAP EPS of $0.71
The chipmaker cleared the top of its own revenue range by $8.9 million and guided the October quarter to $410.0 million. The rarer detail is the direction of the GAAP-to-non-GAAP gap: reported GAAP earnings per share came in more than twice the adjusted figure, the opposite of the usual arrangement.
DICK'S Reported $3.50 GAAP and $3.53 Non-GAAP. Three Cents Apart Is the Strange Part.
DICK'S Sporting Goods' second quarter carried $29.3 million of Foot Locker acquisition costs and a $38.1 million tariff refund that very nearly cancel each other out in the reconciliation. Run the same exercise over six months and the two measures swap places.
PDD Holdings' Q2 operating profit rose 8% while net income fell 12%: the whole gap sits below the operating line
PDD Holdings reported second-quarter revenue of RMB112.4 billion on Aug. 24, up 8% year over year, and operating profit of RMB27.8 billion, also up 8%. Net income attributable to ordinary shareholders nonetheless fell 12% to RMB27.2 billion, and non-GAAP net income fell 13% to RMB28.5 billion. Revenue undershot the LSEG-compiled consensus of RMB116.35 billion cited by Reuters, yet the shares rose 4.6% in New York premarket trading.
Walmart's GAAP earnings per share fell 9% in fiscal Q2 while its adjusted number rose 19%. Almost the entire divergence sits in last year's comparison base, not in this year's quarter.
Walmart reported GAAP diluted EPS of $0.80 for the quarter ended July 31, 2026, down from $0.88, and adjusted EPS of $0.81, up from $0.68. The current quarter carried a net $0.01 of adjustments; the year-ago quarter carried a net $0.20. Walmart U.S. comparable sales excluding fuel rose 2.6% against an LSEG consensus of 3.8%, and the shares closed Thursday at $103.84.
Target's Q2 EPS Doubles to $4.11, but $994 Million of Tariff Refunds Supplied $1.65 of It
Target recognized $994 million of IEEPA tariff refunds as a reduction of cost of sales in the quarter ended August 1, 2026, and says those gains added $1.65 per share to the $4.11 GAAP diluted result. Excluding the refunds, the company says GAAP and adjusted EPS still grew 20 percent.
Analog Devices Posts Fiscal Q3 Revenue of $4.02 Billion, GAAP EPS of $2.74 Against Adjusted $3.45
Revenue rose 40 percent from the year-ago quarter, with communications up 84 percent and industrial up 53 percent. The GAAP and adjusted per-share figures sit 71 cents apart; separately, the company reported $397.0 million of pre-tax adjustments to operating income, most of it acquisition-related.
Baidu Revenue Falls 4% in Q2 as Legacy Ad Business Shrinks and AI Cloud Jumps 50%
The Chinese search-and-AI company reported RMB 31.3 billion in second-quarter revenue on Tuesday, missing Wall Street estimates as a slide in online marketing overwhelmed rapid growth in its AI cloud infrastructure unit.
Home Depot's Adjusted EPS Was $4.92 and Its GAAP EPS $4.79. Yahoo Finance Compared the $4.73 Consensus With $4.79 and Called It Adjusted.
Home Depot reported second-quarter fiscal 2026 sales of $47.9 billion and comparable sales up 1.7% before Tuesday's open, and left every line of its fiscal 2026 guidance exactly as it has stood since February. Comparable transactions fell for a second consecutive quarter, by 1.0%, with the entire comp gain coming from a 2.8% rise in average ticket.
BitFuFu's Adjusted EBITDA Was Negative $18.4 Million. Its Digital-Asset Fair-Value Loss, Which the Measure Does Not Exclude, Was $18.8 Million.
Revenue fell 62.9% year over year to $42.8 million in the quarter, and managed hashrate at June 30 was 57.7% below the year-earlier date. The company's published definition of Adjusted EBITDA adds back tax, interest and depreciation — it never claimed to exclude bitcoin marks, in either direction.
Prairie Operating Posts $109.0 Million Net Income; a Series F Remeasurement Lifts the Common-Stockholder Subtotal to $193.8 Million
Prairie Operating Co. reported second-quarter revenue of $98.9 million and net income of $109.0 million on Monday. Three Series F preferred-stock lines, including an $87.2 million remeasurement, carry the subtotal attributable to common stockholders to $193.8 million — a presentation that ran the same way a year earlier and the opposite way in last year's first half. Adjusted EBITDA, a non-GAAP measure, fell about 12 percent on a 45 percent revenue increase.
InspireMD's U.S. Revenue Line Reads $(351,000). The Parentheses Are Doing Real Work.
A $734,000 block of recall-related customer credits pushed the Nasdaq-quoted stent maker's domestic revenue below zero for the June quarter, and a share count two-thirds larger than a year ago turned a bigger net loss into a smaller loss per share.
AMC Robotics' Gross Margin Went From 19% to 80% as a Related-Party Line Grew to 83% of Sales
Revenue fell 33% in the June quarter. The Kami Vision revenue-sharing line rose 54% and now supplies more than four-fifths of what the Nasdaq-listed robotics company sells, while its product lines took in less than the quarter's total cost of revenues. The metric the release labels EBITDA adds back no depreciation and equals the pretax loss.
Teamshares' First Nasdaq Quarter Shows $9.5 Million of Net Income. One Non-Cash Line Inside It Is $24.9 Million.
The small-business acquirer, listed since June 23, reported the only positive net income figure among the four periods in its Aug. 14 release. Remove the fair-value change on a liability its own balance sheet shows at nil in December, and the quarter was a pretax loss, by our calculation.
Arcos Dorados Posted A 42.9% Comp In South America. Its CFO Put The Region's Inflation At 46-47%.
The McDonald's Latin America franchisee's headline metric, systemwide comparable sales, rose 15.3% in the second quarter on the strength of a 42.9% print in its South Latin America division. On the same morning's call, CFO Mariano Tannenbaum put weighted average inflation in that division at 46% to 47% and said sales were "slightly below" it - adding, in the same breath, "I would say in line with inflation." The company's own definition of the metric makes clear it is a nominal, constant-currency figure, not an inflation-adjusted one.
Bally's Reported $792.2 Million in Q2 Revenue Friday Night. It Did Not Report a Bottom Line.
Bally's Corporation (NYSE: BALY) disclosed second-quarter 2026 revenue of $792.2 million, up 20.5% from $657.5 million a year earlier, with no GAAP net income or loss figure and no consolidated income statement. The company filed a Rule 12b-25 late-filing notification on August 10 for the June 30 quarter, its third consecutive periodic report to arrive behind schedule. The single largest driver of the growth is the consolidation of Intralot, which closed in October 2025, though the prior-year figures on the two Intralot segment lines are a recast of Bally's former International Interactive business rather than acquired revenue.
Quanterix's 34% Revenue Growth Is Measured Against A Quarter That Did Not Contain Akoya
The same August 10 release that reported 34% growth wrote off all remaining goodwill from the Akoya acquisition and cut full-year revenue guidance by $26.5 million at the midpoint. On the company's own pro forma basis, revenue fell 23%.
Accelerant's Q2 Ran Backwards: GAAP Beat Adjusted, and Two Reference Prices Explain the $20.25 Deal
The specialty-insurance marketplace reported GAAP net income above its non-GAAP figure — a reversal traceable to a disclosed definition change — on the same morning it agreed to a Thoma Bravo take-private priced 49% over one date's close and 3.6% under its IPO price.
Outlook Therapeutics put an approval in the headline and $11.2 million of cash in the table
The FDA cleared LYTENAVA on Friday, July 24. Outlook Therapeutics reported its June quarter three weeks later, on Friday, August 14, under a headline that led with the approval — the same morning a $55.0 million share-and-warrant offering priced at $0.99 was due to close. The quarter itself showed $9,000 of net revenue, a $20.3 million GAAP net loss, $11.2 million of cash at June 30 and a $10.4 million stockholders' deficit.
Nu Holdings Cleared $1 Billion. Almost Every Growth Rate in the Release Is FX-Neutral
Nubank's first billion-dollar quarter is a reported IFRS number, not an adjusted one. But the 49% and 39% growth rates attached to it are currency-adjusted, and the reported-dollar arithmetic against last year's release is larger. The stock closed up 9.33%, not the double-digit figures quoted while the session was still running.
Eton's Quarter Produced Three Different EPS Numbers. Wall Street Compared the Biggest One.
Eton Pharmaceuticals nearly doubled revenue and raised full-year guidance again, but the $0.43 everyone quoted is one of three earnings-per-share figures in the release.
Thursday Night's Big Print: Applied Materials Guided to $10.25 Billion and Shares Still Fell After the Bell
Applied Materials reported record fiscal third-quarter results at 4:01 p.m. ET Thursday and guided the current quarter roughly $700 million above consensus. The stock fell about 5% in extended trading, with the flat gross margin outlook the sticking point.
EnerSys Beat Came With Four Different EPS Numbers. Only One Of Them Is Clean.
EnerSys reported fiscal first-quarter results after Wednesday's close and shares jumped double digits in extended trading, though Thursday's session has so far given back most of that. The complication is that the battery and power-systems maker published its bottom line on four separate bases, and the gap between the biggest and the smallest is more than $1.80 a share.
Cerebras cloud revenue nearly quadruples, but shrinking hardware sales knock the stock after hours
The wafer-scale chipmaker's inference cloud grew 281% year over year and management raised full-year guidance. Shares still fell double digits in extended trading after hardware revenue went backwards and the headline revenue line came in short.
Cisco closes fiscal 2026 with $17.3 billion quarter and guides fiscal 2027 revenue far above Wall Street
Fourth-quarter revenue rose 18% and non-GAAP earnings came in at $1.22 a share, both above consensus. The bigger number was the fiscal 2027 revenue range of $72.2 billion to $73.4 billion, well ahead of the $68.69 billion analysts had modelled.
Nebius quintuples AI cloud revenue and says it could sell out 2027 capacity today
Revenue of $582.3 million rose 454% and annualized run-rate hit $3 billion, but the line that moved the stock was management's claim that next year's capacity is effectively spoken for.
Cardinal Health Caps Fiscal 2026 With a 20% Earnings Beat and a $5 Billion Buyback
The drug distributor earned $2.91 per share against a $2.42 consensus and guided fiscal 2027 profit above expectations, sending shares up about 7% even as revenue fell short.
Monday.com Grows 22% and Doubles AI Revenue, but Guidance Keeps the Stock Under Pressure
The work-management software maker posted $365 million in second-quarter revenue and rapid enterprise gains, yet a forecast for slowing growth sent shares down nearly 8% to $85.84.