NVIDIA Corporation reported its first quarter fiscal 2027 financial results, delivering total revenue of $82 billion, which was up 85% year-over-year and 20% sequentially.

Data center revenue of $75 billion was up 92% year-over-year and 21% sequentially.

The company generated record free cash flow of $49 billion for the first quarter, up from $35 billion in Q4. GAAP gross margin was 74.9% and non-GAAP gross margin was 75%.

The company also returned a record $20 billion to shareholders and announced an $80 billion share repurchase authorization.

Management introduced a new reporting framework comprising data center and edge computing market platforms to better reflect growth drivers.

The data center segment now reports hyperscale and ACIE, which stands for AI clouds, industrial, and enterprise.

Executive leadership emphasized that the build-out of AI factories is accelerating, driven by the transition to GPU-based computing and the rising adoption of agentic AI. The company highlighted that its Vera CPU opens a brand-new 200 billion TAM for NVIDIA, representing a market they have never addressed before.

The company announced several deepening partnerships and product deployments, including expanding Anthropic's compute capacity. AWS will add more than 1 million Blackwell and Rubin GPUs starting this year. In edge computing, a partnership with Uber will power a Robotaxi fleet across nearly 30 cities and 4 continents by 2028.

Management confirmed they are on track to commence production shipments of Vera Rubin in the second half of the year, starting in Q3.For the second quarter, NVIDIA expects total revenue to be $91 billion, plus or minus 2%, driven primarily by the data center segment. GAAP and non-GAAP gross margins for the second quarter are expected to be 74.9% and 75%, respectively, plus or minus 50 basis points.

For the full year 2027, the company expects GAAP and non-GAAP tax rates to be between 16% and 18%.

Management also stated they have full confidence in the $1 trillion in Blackwell and Rubin revenue they foresee from 2025 through calendar 2027.

For the first quarter, management stated that "Consolidated revenue in constant currency increased nearly $10 billion". They reported "First quarter adjusted operating income growth in constant currency of approximately 5%" alongside a "gross margin expansion of 29 basis points". The company noted it absorbed "approximately $175 million or about 250 basis points of operating income growth from higher-than-planned fuel costs".Key business updates highlighted that "Enterprise e-commerce sales grew 26%" and "3P marketplace sales growth in the U.S. reached the highest level in 2.5 years". Management mentioned that "our advertising business had one of its best quarters growing 37% globally". Delivery capabilities expanded, with executives noting that "More than 36% of all U.S. store-fulfilled deliveries in the quarter were delivered in less than 3 hours" and "sales utilizing store fulfilled delivery have more than doubled over the past 2 years". The company also highlighted its value proposition, maintaining "about 7,200 rollbacks in place".Product and platform updates included strong growth for the AI shopping agent, "Sparky", with management stating that "Weekly active users are up over 100% just in the last quarter" and "units purchased through Sparky have grown more than 4x the previous quarter". Private brands like "Great Value and Equate" continued to drive engagement, alongside a "recent refresh of great value". The company also reached a milestone when they "hit our 1 millionth drone delivery in Q1 for the life of that program".For forward guidance, management expects a "Q2 outlook of 4% to 5% growth" for sales and stated, "For Q2 operating income in constant currency, we expect growth of 7% to 10%". Quarterly earnings expectations are "EPS of $0.72 to $0.74". The company is "reiterating our full year guidance of constant currency sales growth between 3.5% and 4.5%" with "full year EPS in the range of $2.75 to $2.85".

During the first quarter, management reported that "net sales of $25.4 billion were 6.7% higher than last year." The company reported first quarter GAAP and adjusted EPS of $1.71.

First quarter gross margin rate was 29%, and the first quarter operating margin rate was 4.5%.

First-party digital sales grew nearly 9%, led by growth in same-day delivery of more than 27%. On the Target Plus third-party digital sales platform, the company saw nearly 60% growth in first quarter GMV.Management highlighted investments in its "Food Forward strategy" and a multiyear reinvention in its home categories. In the first quarter, the company opened seven new stores, including its 2,000th location, and has over 100 remodels underway this year. To support its "stores as hub fulfillment model," Target invested in upstream facilities, opening a new receive center in Houston and a new food distribution center in Colorado.

Management is also investing hundreds of millions of dollars in payroll and training for store team members.

Target reported strong engagement from exclusive first quarter drops and partnerships with Parke, Roller Rabbit, Pokemon, and a K-Pop-BTS launch.

The company is also preparing for the fall launch of a "Target beauty studio" in more than 600 stores and is testing a new baby concierge service in 200 stores.

For its forward guidance, management stated they are "planning for a net sales increase in a range centered around 4%" for the full year.

Target previously provided a full year "EPS range of $750 million to $850 million" and is now "expecting to end the year near the high end of that range." The company also continues to expect about $5 billion of capital expenditures for the full year.

CAVA Group, Inc. reported first quarter 2026 revenue of $434.4 million, representing a 32.2% increase year-over-year.

Same-restaurant sales increased 9.7%, driven by traffic growth of 6.8%.

The company reported net income of $23.6 million for the first quarter and diluted EPS of $0.20.

Adjusted EBITDA for the quarter was $61.7 million, a 37.6% increase over the prior year period. CAVA restaurant level profit was $108.9 million, or 25.1% of revenue.

The company opened 20 net new restaurants during the quarter, ending the period with 459 total locations.

Key strategic updates included the launch of Cavacor, a modern data platform, and Cava current, a modular real-time commerce platform designed to integrate AI into operations.

Management also highlighted the expansion of the Assistant General Manager position through the Flavor Your Future initiative, which is now in place in over 50% of restaurants to support leadership development and operational integrity.

Culinary innovation was marked by the nationwide launch of Pomegranate salmon, the company's first seafood offering, and the seasonal return of roasted white sweet potato.

For the full year 2026, CAVA raised its guidance to expect 75 to 77 net new restaurant openings and same-restaurant sales growth of 4.5% to 6.5%.

Management projects full year adjusted EBITDA between $181 million and $191 million and common restaurant level profit margin between 23.7% and 24.3%.

The Home Depot, Inc. reported sales for the first quarter were $41.8 billion, representing an increase of 4.8% from the same period last year.

Total company comparable sales for the first quarter increased 0.6% and U.S. comparable sales increased 0.4%.

Diluted earnings per share for the first quarter were $3.30, and adjusted diluted earnings per share were $3.43.

The company reported a gross margin of 33% for the first quarter, which was a decrease of approximately 75 basis points from the first quarter of last year.

Operating margin for the first quarter was 11.9%.

Management stated they remain focused on their strategy of driving our core and culture delivering a frictionless interconnected experience and winning the Pro.

The company announced the completed acquisition of Mingledorffs, a wholesale distributor of heating, ventilation and air conditioning equipment. To improve customer service, the company has transitioned over 1,000 stores to distinct merchandising execution teams.

Digital initiatives include an AI-powered material list builder and a project management tool within the Pro digital workspace that allows for real-time delivery tracking and purchase history viewing.

The company reaffirmed its fiscal 2026 guidance, expecting total sales growth of between approximately 2.5% and 4.5% and comparable sales growth to range between flat to 2% growth.

For the full fiscal year, the company expects adjusted diluted earnings per share to increase approximately flat to 4%.

The Home Depot plans to open approximately 15 new stores and 40 to 50 new SRS locations during the fiscal year.

Executives noted that underlying demand in the first quarter was relatively similar to fiscal 2025 despite consumer uncertainty and housing affordability pressure.

In Q1 2026, Baidu reported that total revenue of Baidu was RMB 32.1 billion.

Revenue from Baidu General business was RMB 26.0 billion, and revenue from Baidu Core AI-powered business exceeded RMB 13 billion for the quarter.

Operating income was RMB 3.2 billion with an operating margin of 10 percent, while non-GAAP operating income was RMB 3.8 billion with a non-GAAP operating margin of 12 percent.

Net income attributable to Baidu was RMB 3.4 billion, and diluted earnings per ADS was RMB 8.76 for the quarter.

Operating cash flow for Baidu was positive at RMB 2.7 billion in Q1. Total cash and investments were RMB 279.3 billion as of March 31, 2026.

Management highlighted that the core AI-powered business accounted for more than half of Baidu General business revenue for the first time.

Driven by strong enterprise demand for AI infrastructure, the company is actively expanding capacity and improving resource efficiency.

Executives noted that GPU cloud structurally carries higher margin profiles than traditional CPU cloud.

Operationally, Baidu is driving cost optimization across the organization, deploying AI extensively to improve internal productivity, and continuously improving server utilization rates.

Furthermore, the Apollo Go autonomous driving unit has achieved unit economics breakeven in its largest operational city in China.

Notable product announcements included Apollo Go delivering 3.2 million fully driverless operations in Q1. The company launched ERNIE 5.1, an overseas digital human platform supporting 24 languages, Miaoda 3.0 with an enterprise version and mobile app, and Famou agent 2.0. In partnership developments, Apollo Go vehicles arrived in London in preparation for testing with Uber and Lyft, and the company partnered on a rental model using fully driverless vehicles stationed at an airport in Hainan.

For forward guidance, management expects higher-margin, faster-growing businesses to contribute not only to revenue growth but also to margin expansion over time, providing multiple drivers for sustainable profit improvement.

Management stated that the medium to long-term margin trajectory is compelling and sustainable.

Regarding international expansion, management noted that as the company expands globally, the pricing environment becomes much more attractive, and overseas operations have the potential to deliver much stronger profitability as they continue to ramp up.

Nu Holdings Ltd. reported a "quarter 1 historical high net income of $871 million" and "record revenue, reaching $5 billion for the first time in our history". The company achieved a "record low efficiency ratio below 18%", which officially reached "17.6% on a reported basis" for the quarter.

The gross profit line "closed at $1.88 billion in the quarter", and net interest income reached a "record $3.25 billion in the quarter".Management noted the "customer base now stands above 135 million customers", including surpassing "115 million customers" in Brazil and crossing "15 million customers" in Mexico.

The company emphasized its "AI transformation is a core priority of Nu", highlighting that "nuFormer, our set of proprietary foundation models, are in production today for credit card decisioning in Brazil and Mexico and for unsecured lending in Brazil". Executives stated their strategy involves "deepening Brazil from a position of leadership, scaling Mexico and Colombia through their inflection points and making AI compound through every layer of the company, including investing further in our internationalization plans".For forward guidance, the company stated "we expect our consolidated efficiency ratio for the full year of 2026 to land at approximately 20%". Regarding expansion, management announced they are "expanding our model to the U.S. deliberately and at a measured pace". The company projected that "the maximum OpEx headwind we expect from U.S. investment in each of 2026 and 2027 is less than 100 basis points on our consolidated efficiency ratio". Finally, the company expects its "IFRS ETR for the remainder of 2026 to converge towards the 15% to 20% range".

Birkenstock Holding plc reported "second quarter revenues of EUR 618 million" for fiscal 2026.

This represented a "growth of 8% on a reported basis" and 14% in constant currency.

The adjusted gross profit margin for the quarter was 54.6%.

Management reported "Adjusted EBITDA in the second quarter of EUR 198 million" with an adjusted EBITDA margin of 32.1%.

Adjusted net profit for the quarter was EUR 93 million, and adjusted EPS was EUR 0.50.

Executives highlighted the resilience of the business despite disruptions in the Middle East, U.S. tariff increases, and high inflation.

Chief Executive Officer Oliver Reichert stated that "Closed-toe penetration was up 300 basis points, driven by strong growth in clogs". Within the direct-to-consumer segment, owned retail grew over 60% in constant currency.

The company opened five new owned retail doors during the quarter, bringing its global total to 111.

Regionally, Asia-Pacific grew 30% in constant currency, and the Americas segment grew 14% in constant currency.

For the full fiscal year 2026, the company reiterated its guidance of 13% to 15% constant currency revenue growth, projecting reported revenue of EUR 2.3 billion to EUR 2.35 billion.

The outlook includes an expected adjusted gross margin of 57% to 57.5% and "adjusted EBITDA of at least EUR 700 million for the year". Adjusted EPS for the year is expected to be EUR 1.90 to EUR 2.05.

Product discussions highlighted that 11 out of the top 20 styles are closed-toe, featuring clogs like the Boston, Naples, Tokyo, and Buckley, alongside traditional shoes such as the London and Highwood.

Tencent Holdings Limited reported its financial results for the first quarter of 2026.

Management announced "total revenue was RMB 196.5 billion, up 9% year-on-year". During the first quarter, "Gross profit was RMB 111.3 billion, up 11% year-on-year" and "Overall gross margin was 57%, up 1 percentage point year-on-year". Executives highlighted that "Free cash flow was RMB 56.7 billion, up 20% year-on-year". On a reported basis for the quarter, "Operating profit was RMB 67.4 billion, up 17% year-on-year" and "Net profit attributable to equity holders was RMB 67.9 billion, up 11% year-on-year".Discussing strategic priorities, the company emphasized its progress in artificial intelligence.

Management stated "we start 2026 by making significant initial progress on our new AI products so as continue to utilize AI to grow our existing core business". The company noted that "In April, we launched Hunyuan 3 Preview" which has "already become a leading reasoning model in China". Executives also highlighted their focus on productivity tools, stating "it has become increasingly evident that agent AI represents a breakthrough use case" and "Tencent has established an early lead in agent AI deployment evidenced by the leading DAU of our product, WorkBuddy".Providing forward guidance, management addressed infrastructure investments and capital returns.

The company guided that "you should expect a substantial increase in CapEx, especially in the second half of this year as more China designed ASICs become available to us month by month through the year". Regarding capital allocation, executives confirmed "we're accelerating the process of liquidizing some of that investment portfolio and that will enable us to sustain buybacks going through the rest of this year".The company shared several product updates across its divisions. In domestic games, "Honor of Kings and Peacekeeper Elite achieved record highs in gross received during the first quarter of 2026". The newly released game Roko Kingdom World achieved "over 13 million average DAUs" in its first month since launch. In the enterprise segment, "Tencent Cloud's international business grew its revenue over 40% year-on-year". Additionally, in digital content, management noted "we cemented our leadership in animated content with 8 of our self-commissioned series ranking among the top 10 across all video platforms in China during the quarter".

Alibaba Group Holding Limited reported its financial results for the quarter, stating that "total revenue was RMB 243.4 billion". Management noted that "Our GAAP net income was RMB 23.5 billion, an increase of 96%", while "Total adjusted EBITA decreased 84%" primarily due to strategic investments in technology businesses, quick commerce and user experience.

For the quarter, the company reported that "Operating cash flow was an inflow of RMB 9.4 billion" and "Free cash flow was an outflow of RMB 17.3 billion".During the quarter, Alibaba emphasized its two strategic priorities of AI plus Cloud and consumption.

The Cloud Intelligence Group saw revenue from external customers accelerate to grow 40 percent.

Management highlighted that AI-related products continued to lead this momentum, noting, "We delivered our 11th consecutive quarter of triple-digit growth in AI revenue". This AI revenue now accounts for 30 percent of external cloud revenue.

Additionally, the company reported exponential growth in its model and application services, and noted that T-Head proprietary GPU chips have achieved scaled MaaS production.On the consumption front, revenue from the China E-commerce Group was RMB 122 billion for the quarter.

The company stated that "Revenue from our quick commerce business increased 57% to RMB 20 billion". Management noted that the quick commerce business further improved its unit economics and increased the average order value quarter-over-quarter.

Additionally, the Qwen app fully integrated Taobao and Tmall commerce service capabilities during the quarter, positioning it as an all-in-one personal assistant.

Looking forward, management provided guidance for its AI model and application services, expecting annualized recurring revenue to surpass RMB 10 billion in the June quarter and RMB 30 billion by year-end.

For the quick commerce segment, management stated they are confident that unit economics will turn positive by the end of fiscal year 27.

Furthermore, the Board of Directors approved an annual dividend of USD 1.05 per ADS.