For the third quarter of fiscal 2026, Executive Vice President and Chief Financial Officer Matt Friend stated that "revenues were flat on a reported basis and down 3% on a currency-neutral basis." Friend noted that "NIKE Direct was down 7% with NIKE Digital declining 9% and and NIKE stores down 5%", while "Wholesale grew 1%." "Gross margins declined 130 basis points to 40.2% on a reported basis," which was "primarily due to 300 basis points associated with higher tariffs in North America." The company reported that "Earnings per share was $0.35" for the quarter, and "inventory decreased 1% versus the prior year with units down mid-single digits."President and Chief Executive Officer Elliott Hill provided an update on the company's turnaround, noting they "have continued to take meaningful actions to improve the health, quality and foundation of our business." A major priority was "further removing unhealthy inventory of our classic footwear franchises from the marketplace," which "created roughly a 5-point headwind to our reported results." Hill highlighted that "NIKE Running was the first team to move into the sport offense," leading to "NIKE running up over 20% for the quarter." The company also detailed a "$230 million charge we incurred this quarter due to employee-related severance costs primarily in supply chain and technology" as part of steps to "reset our cost base to improve NIKE's long-term profitability."Regarding forward guidance, Friend stated they expect "revenues to be down low single digits versus the prior year" through the end of the calendar year.

For the fourth quarter of fiscal 2026 specifically, management expects "revenues in Q4 to be down 2% to 4%", with "Greater China to be down approximately 20% in the fourth quarter." Friend added they expect "sequential improvement in gross margin with Q4 down approximately 25 to 75 basis points, including 250 basis points due to higher tariffs in North America." The "full year tax rate" is expected "to be in the low 20% range."Leadership highlighted new product innovations, with Hill unveiling the "new NIKE Mind platform with over 150 patents filed globally," which "sold out in all geographies." The company also introduced Aero-FIT for football, described as our "new elite apparel cooling platform that increases airflow by 200% over regular dry fit," and plans to expand it into multiple sports including NIKE Running in the fall.

FactSet Research Systems Inc. reported Q2 2026 financial results, noting that second quarter revenues grew 7.1% year-over-year to $611 million, or 6.8% organically.

Management stated that organic ASV grew 6.7% to $2.45 billion.

Adjusted operating margin was 35% for the quarter, and adjusted diluted EPS was $4.46.

The company reported deploying over $300 million year-to-date to repurchase shares, including approximately 652,000 shares for $163 million in the second quarter.

Management highlighted three priorities for the company: driving commercial excellence, delivering productivity improvements, and solidifying its long-term strategy for sustainable growth.

The company reported that productivity initiatives have already captured more than half of the 100 basis points of productivity improvement targeted for the year.

This included deploying AI tools across data operations and utilizing AI coding assistants that author nearly 1/5 of successful code commits.

Direct seat-based exposure now represents less than 20% of ASV, driven by appropriate minimums and bundling into enterprise agreements.

The company discussed several partnerships and product highlights, including an open architecture approach with Snowflake and Databricks.

FactSet is also partnering with Anthropic and OpenAI to make data sets available in their marketplaces.

The newly launched MCP server reached over 120 clients actively engaged since its launch in December.

Management also noted expanding mandates with products like the Portware trading platform and the LiquidityBook order management system.

For fiscal 2026, FactSet raised its ASV revenue and EPS outlook ranges. ASV growth is expected at $130 million to $160 million, representing approximately 5.4% to 6.7% growth.

The company is targeting GAAP revenue for the year at $2,450 million to $2,470 million.

The guidance range for GAAP EPS was increased to $14.85 to $15.35, while adjusted EPS was raised to a range of $17.25 to $17.75.

The guidance ranges for GAAP operating margin and adjusted operating margin were maintained.

For the fourth quarter of 2025, PDD Holdings Inc. reported that total revenues increased 12% year-over-year to RMB 123.9 billion, and for the full year 2025, revenues were RMB 431.8 billion.

Fourth quarter revenues from online marketing services and others were RMB 60 billion, while transaction services revenues for the quarter reached RMB 63.9 billion.

The company reported a fourth quarter GAAP operating profit of RMB 27.7 billion and a non-GAAP operating profit of RMB 29.5 billion, representing a non-GAAP operating profit margin of 24%.

Fourth quarter net income attributable to ordinary shareholders was RMB 24.5 billion, and the full year net income was RMB 99.4 billion.

Management emphasized their strategic focus of "investing deeply in the supply chain and concentrating on high-quality, brand-oriented growth". During the year, the company launched the "CNY 100 billion support program" to assist farmers and merchants, which includes initiatives like the total local specialties and new quality supply programs designed to upgrade supply chain operations and agricultural added value.

Additionally, PDD piloted a "free delivery to villages" project in the fourth quarter, covering transhipping fees and building last-mile logistics infrastructure across multiple regions to extend e-commerce benefits into remote rural areas.

Regarding the business outlook and global environment, management noted that the company is currently operating in nearly 100 markets and faces a rapidly evolving international geopolitical landscape.

While no specific numerical forward guidance was provided, executives stated that increased uncertainty in the economic and trade climate will "inevitably bring more challenges and weigh on our future performance, putting pressures on our profitability in short term". The company intends to remain in a strategic investment phase, prioritizing long-term value generation and ecosystem health over short-term financial performance.

XPeng Inc. reported its financial results for the fourth quarter of 2025, stating that total revenues were RMB 22.25 billion for the fourth quarter of 2025.

Revenues from vehicle sales were RMB 19.07 billion for the fourth quarter of 2025, while revenues from services and others were RMB 3.18 billion for the fourth quarter of 2025.

Gross margin was 21.3% for the fourth quarter of 2025, and vehicle margin was 13% for the fourth quarter of 2025.

Management noted a net profit of RMB 0.38 billion for the fourth quarter of 2025.

For the full fiscal year 2025, gross margin reached 18.9%, and the company had a free cash inflow of approximately RMB 5 billion, ending the year with a RMB 47.66 billion cash position.

Management highlighted a strategic focus on physical AI transformation and a business model driven by technology leadership.

The company integrated its autonomous driving center and smart cabin center into a General Intelligence Center to improve research and development efficiency. XPeng plans to increase investment in physical AI related R&D to RMB 7 billion this year.

The company also emphasized globalization, aiming to double overseas deliveries in 2026 year over year, with international business contributing over 20% of total revenue. To support this, the company plans to target 680 overseas stores for sales and service and introduce 4 new models to the global market.

For the first quarter of 2026, XPeng expects deliveries to be between 61,000 and 66,000 units, and revenue is expected to be between RMB 12.2 billion and RMB 13.2 billion.

Notable product updates include the gradual rollout of the VLA 2.0 autonomous driving system and the planned preorders for the XPeng GX, a 6 seat full size SUV, in the third quarter of 2026.

The company announced that its next generation humanoid robot, IRON, is targeted to enter mass production by the end of 2026.

Additionally, management noted that Volkswagen is their first external customer for both the Turing SoC and VLA 2.0, and that shipments of the Turing SoC are targeted to reach nearly 1 million units this year.

Tencent Holdings Limited reported its financial results for the fourth quarter of 2025.

Management announced "total revenue was RMB 194.4 billion, up 13% year-on-year". During the quarter, "Gross profit was RMB 108.3 billion, up 19% year-on-year" and "Overall gross margin was 56%, up 3 percentage points year-on-year". Executives also highlighted that "Free cash flow was RMB 34 billion, increasing over 6x year-on-year". On a non-IFRS basis, "operating profit was RMB 69.5 billion, up 17% year-on-year" and "Net profit attributable to equity holders was RMB 64.7 billion, up 17% year-on-year".Discussing strategic initiatives, the company emphasized its focus on integrating artificial intelligence.

Management stated "we prioritized leveraging AI to reinforce our core businesses" and are now advancing to "add development of new AI products to our priorities". Executives detailed that "Our spending on our 2 biggest new AI products, Hunyuan and Rembao, was RMB 7 billion in the fourth quarter of 2025 and RMB 18 billion for the full year". The company indicated that "We expect to more than double these investments in Hunyuan, Yuanbao and other new AI products in 2026, which we intend to fund from increasing earnings from our core businesses".Providing forward guidance, management addressed capital allocation by stating "we will likely buy back lower value of our shares versus 2025 to fund investment in AI while increasing our dividends". The company noted that for the full year of 2025, "we repurchased 153 million shares with a total consideration of HKD 80 billion". Executives announced "we are proposing an annual dividend of HKD 5.3 per share, reflecting an 18% year-on-year increase". This dividend will be payable to shareholders on the 1st of June 2026.

The company shared several product milestones, noting "our international games business surpassed USD 10 billion in annual revenue for the first time". In domestic games, the new release Delta Force "surpassed 50 million peak daily active users" in February 2026.

The enterprise software division saw Tencent Cloud achieve "RMB 5 billion adjusted operating profit" in 2025.

Regarding their foundation model progress, management announced that "Hunyuan 3.0 is in internal testing".

Angi Inc. reported full year 2025 revenue growth that landed at "minus 13%" and delivered "$140 million" of adjusted EBITDA for the year.

The company noted that its proprietary business "grew 17% in 2025". Management also highlighted that over the last three years they have "doubled our EBITDA and cut our capital expenditures in half" and swung from "real negative free cash flow to real positive free cash flow".Key business updates include a restructuring that involved "cutting the organization by 40%" and is expected to generate "$70 million to $80 million" of annualized savings.

These savings are creating room to reinvest in brand marketing, returning to "2024 levels", and ramping up online Pro marketing.

The company is also executing a global platform consolidation, beginning with rebuilding the core homeowner experience in a "componentized and more flexible way".For the full year 2026, management expects revenue growth in the "low single digits", specifically "1% to 3%", with first quarter revenue expected to be "minus 1% to minus 3%". Adjusted EBITDA for the upcoming year is guided to "$145 million to $150 million". The company also announced a deal with "Amazon's Alexa" and stated they have "started working actively working with every LLM" to integrate their marketplace data into generative AI platforms.

ServiceTitan, Inc. reported its fourth quarter fiscal year 2026 results.

For the full fiscal year 2026, management stated, "we delivered $961 million in total revenue, growing 24% year-over-year". For the quarter, the company stated, "Q4 total revenue of $254 million grew 21% year-over-year". Subscription revenue for the fourth quarter was $192 million.

The company reported, "Q4 operating income of $27.1 million resulted in operating margin of 10.7%". Furthermore, "Q4 free cash flow was $35 million up from $11 million for the prior year fourth quarter" and "FY '26 free cash flow was $85 million".Key business updates focused on the company's vision to build the "Agentic Operating System for the trades". The company highlighted the initial deployment of its Max program, which brings together core products, existing Pro products, and new AI capabilities.

Management noted progress in the Commercial and Roofing segments, including a partnership with Vertex.

ServiceTitan also announced the hiring of Abhishek Mathur as Chief Technology and Product Officer to oversee AI research and development.

Management provided forward guidance for the first fiscal quarter and full fiscal year 2027.

For the first quarter, the company stated, "we expect total revenue in the range of $255 million to $257 million" and "operating income in the range of $27 million to $28 million". For the full fiscal year 2027, the company expects "total revenue in the range of $1.11 billion to $1.12 billion" and "operating income in the range of $128 million to $133 million". ServiceTitan also expects to continue its "25% incremental operating margin framework over the full year FY '27".

Alibaba Group Holding Limited reported its financial results for the quarter, stating that total revenue was RMB 284.8 billion.

The company reported that GAAP net income for the quarter was RMB 15.6 billion, representing a decrease of 66 percent.

Operating cash flow for the quarter was an inflow of RMB 36 billion, and free cash flow for the quarter was RMB 11.3 billion.

Management noted that total adjusted EBITDA for the quarter decreased by 57 percent primarily due to strategic investments in technology-related innovation initiatives and the consumption front, including quick commerce business.

During the quarter, Alibaba maintained strong investment momentum in its two strategic priorities, AI plus cloud and consumption.

The Cloud Intelligence Group saw revenue from external customers accelerate to 35 percent for the quarter, with AI-related product revenue delivering triple-digit year-over-year growth for the tenth consecutive quarter.

The company announced the establishment of the new Alibaba Token Hub Business Group as the organizational foundation for executing its AI strategy, alongside the launch of Wukong, an enterprise AI agent platform.

Management also highlighted that T-Head proprietary GPU chips achieved scaled mass production, having cumulatively shipped 470,000 AI chips as of February 2026.On the consumption front, the China e-commerce group generated quarterly revenue of RMB 159.3 billion.

The company reported that revenue from its quick commerce business increased 56 percent to RMB 20.8 billion during the quarter.

Management noted that this quick commerce expansion drove Taobao app monthly active consumers to double-digit year-over-year growth and demonstrated clear synergies with traditional e-commerce.

Looking forward, management established a business goal for its AI strategy over the next 5 years to surpass USD 100 billion in combined cloud and AI external revenue, including mass.

For the consumer segment, the company maintains a target of achieving over RMB 1 trillion in Quick Commerce GMV by FY 2028.

Management stated they expect to generate positive cash flow when the GMV target is achieved and expect the Quick Commerce business to be profitable in FY 2029.

Management did not explicitly state total revenue or profit figures for the quarter, but CFO Mark Murphy noted that "both DRAM and NAND pricing was up strongly" and that both segments grew volume sequentially.

The company updated its financial investments, noting "we increased our outlook on CapEx to over $25 billion" for fiscal year 2026, up from $20 billion.

Management expects fourth quarter operating expenses to be close to $1.6 billion, and start-up costs for new facilities to be $100 million to $200 million per quarter starting in the next quarter or so.

Micron discussed its ongoing strategy to manage supply and demand, including adding cleanroom space in Singapore and ramping the Powerchip Tongluo facility.

Management stated that meaningful supply from these cleanroom projects will not impact the market until fiscal 2028.

Chief Business Officer Sumit Sadana highlighted very robust demand for NAND, pointing out that "AI servers are using a huge amount of SSDs" and concluding that "our supply is nowhere close to being able to meet the demand that we see for the foreseeable future." The company expects tight supply conditions to continue beyond 2026.

Regarding forward guidance and product updates, Micron assumes "some modest growth, volume growth in third quarter for both DRAM and NAND." On the product side, management announced they are "the first company in the world to have a Gen6 SSD in the market," which works well with NVIDIA systems.

Additionally, the company reported strong execution on High Bandwidth Memory, noting that HBM3E 12-high continues to execute well in high volume and that HBM4 is experiencing "an even faster yield ramp than HBM3E 12-high."

For the fourth quarter of 2025, interim Co-CEO and CFO Meghan Frank reported that "total net revenue rose 1% to $3.6 billion". Gross profit for the fourth quarter was $2 billion or 54.9% of net revenue.

Operating income for the quarter was approximately $812 million, or 22.3% of net revenue.

Net income for the quarter was $587 million or $5.01 per diluted share.

Inventory at the end of Q4 was $1.7 billion.

Management outlined an action plan focused on product creation, product activation, and enterprise enablement.

Interim Co-CEO Andre Maestrini stated a primary goal in North America is "returning the business to healthier levels of full-price sales" after seeing a higher markdown penetration in 2025.

The company has increased its new style penetration to approximately 35% and is sharpening its focus on activity based merchandising in stores by offering clear destinations for core activities including run, train, and yoga and pilates.

The company highlighted several new product innovations, including the Unrestricted Power training collection constructed from the newest technical fabric innovation called PowerLu, and ThermoZen insulated jackets and vests. An updated version of the ShowZero no-show-sweat technology was developed in collaboration with professional tennis player Frances Tiafoe and debuted at the BNP Paribas Open.

Additionally, the brand continues its partnership as the official outfitter of Team Canada for the Olympics.

For the full year 2026, management expects revenue to be in the range of $11.35 billion to $11.5 billion, representing growth of 2% to 4% relative to 2025.

Diluted earnings per share for the fiscal year 2026 are expected in the range of $12.10 to $12.30.

For the first quarter of 2026, the company expects revenue in the range of $2.4 billion to $2.43 billion, with earnings per share expected in the range of $1.63 to $1.68.