NASDAQ Q1: AI Rally and Mixed Signals

Results: Revenue grew 23,1% to 1,04 billion dollars and operating profit growth accelerated 56,1% to 345,3 million dollars.

Reasons: Results were supported by higher solar panel sales volumes (+31%), especially in the US and Indian markets, and improved gross margins due to tax incentives and lower freight costs.

Market reaction: The stock reacted positively, rising 5,9% on the day of the earnings. The upward trend has continued in the following weeks, reaching over 35% in total thanks to a new partnership in India, which strengthened the growth outlook.

Results: Revenue grew faster than expected, 31,7% to 1,79 billion dollars. However, the company reported an operating loss of 53,6 million dollars.

Reasons: The strong revenue growth was driven by demand for cloud services (+29%) and data centers (+44%). The loss was due to one-off restructuring costs (223,8 million $), which overshadowed improvements in operational efficiency.

Market reaction: The market looked past the one-off loss and focused on the strong revenue growth. The stock jumped nearly 30% following the results, but has since given up some of those gains, still trading over 21% higher than pre-earnings levels.

Results: Revenue grew 55,5% to 19,8 billion dollars and operating profit exploded 236,7%, reaching 8,9 billion dollars.

Reasons: The phenomenal growth was driven by the highly successful sales of the diabetes drug Mounjaro and the weight-loss drug Zepbound, which more than compensated for the sales decline of other products.

Market reaction: The stock reacted to the exceptionally strong results and raised guidance with a nearly 10% surge. The positive momentum has continued, and the stock has climbed over 25% since the earnings.

Results: Revenue grew 18,6% to 4,8 billion dollars and operating profit growth accelerated significantly to 36,6%.

Reasons: Growth was driven by strong demand for analog and embedded processing chips in the industrial and automotive sectors. The company managed to grow revenues faster than costs, improving profitability.

Market reaction: The market reacted very positively to the better-than-expected results and strong guidance, sending the stock up nearly 20% on the first day. The stock has continued to climb since then, being up over 31% in total.

Results: Revenue grew 122,6% to 10,24 billion dollars and operating profit turned from a decline to an impressive 403% growth.

Reasons: The explosive growth continued to be driven by massive demand for artificial intelligence (AI) and GPU servers, which accounted for over 75% of revenue.

Market reaction: The initial reaction of the stock was modest (-0,3%), as expectations were already very high. However, the stock has risen over 27% since the earnings, reflecting broader optimism in the AI sector, despite new legal risks.

Results: Revenue grew 44,1% to 3,11 billion dollars and operating profit growth accelerated 131,2% to nearly a billion dollars.

Reasons: Growth was driven by exceptionally strong demand from data centers for high-capacity hard drives, which has nearly sold out the company's production capacity until 2027 and supports high prices.

Market reaction: The stock jumped 11,1% on the earnings and has continued its rally since, climbing over 40% in total. This reflects investors' belief that AI-driven data storage demand will persist.

Results: Revenue grew 16,5% to 111,2 billion dollars and operating profit growth accelerated 67,0% to 50,9 billion dollars.

Reasons: Growth was driven by strong sales of new products, especially the iPhone 17 series, and record revenue in the services segment. This helped improve gross margins despite rising operating expenses.

Market reaction: The stock reacted to the results with a modest rise, but has steadily moved upwards since, reaching new highs. In total, the stock has climbed over 14% since the earnings release.

Results: Revenue grew 16,2% to 12,2 billion dollars and operating profit 18,2%. Subscriber numbers also grew more than expected.

Reasons: Growth was supported by a successful password-sharing crackdown and the growing popularity of the ad-supported tier. The company also raised its free cash flow forecast.

Market reaction: Despite strong numbers, the stock fell nearly 10% following the results. The market was spooked by a weaker-than-expected forecast and the decision to stop publishing quarterly subscriber numbers. The stock has remained under pressure and is nearly 18% below its pre-earnings level.

Results: Revenue turned from a decline to a 45,9% growth, reaching 3,34 billion dollars. Operating profit growth accelerated to 236,3%.

Reasons: Similar to Seagate, the main engine of growth was the explosive demand for high-capacity hard disk drives (HDDs) among cloud service providers, driven by AI workloads.

Market reaction: The stock rose over 5% on the day of the earnings and has continued its uptrend, climbing over 17% in total. This confirms the broader trend where building AI infrastructure feeds the data storage market.

Results: Revenue grew 37,8% to 10,25 billion dollars and operating profit 86,1% to 1,5 billion dollars.

Reasons: Growth was driven by a 57% revenue increase in the data center segment, supported by strong demand for EPYC processors and Instinct GPUs for building AI infrastructure.

Market reaction: The stock reacted to the strong results with a 4% rise. In the following weeks, the rally has continued and the stock has reached new highs, climbing nearly 37% in total since the earnings.

Results: Revenue fell 3,5%, but the operating profit decline stabilized at -2,4%, which was better than feared.

Reasons: Smartphone chip sales remained weak, but this was offset by strong growth in the automotive and Internet of Things (IoT) segments, demonstrating the success of the company's diversification strategy.

Market reaction: The market reacted very positively to the stabilization, sending the stock up 4% on the first day. The rally has been exceptionally strong, totaling nearly 59% since the earnings, reflecting a belief that the bottom has been reached.

Results: Revenue growth accelerated 12,1% to 15,8 billion dollars and operating profit growth 25,4% to nearly 4 billion dollars.

Reasons: Growth was driven by a surge in AI infrastructure orders, especially for data center switches. The company also significantly improved operational efficiency.

Market reaction: The stock reacted positively, rising nearly 13% following the results. The upward trend has continued and the stock has climbed over 21% in total, as investors increasingly see Cisco as a winner in the AI boom.

Results: Revenue turned to a 6,4% growth and operating profit grew 250%, reaching 3,5 billion dollars.

Reasons: The results were boosted by a 1,3 billion dollar one-off tariff refund. However, the core business also improved thanks to strong sales of F-Series and Transit models, and a reduction in losses in the electric vehicle unit.

Market reaction: The initial reaction of the stock was slightly negative, as the market priced in the impact of the one-off gain. However, the stock has since recovered and risen over 21%, reaching new highs.

Results: Revenue grew 14,7% to 3,43 billion dollars and the company turned last year's operating loss into a 251 million dollar profit.

Reasons: Growth was driven by strong travel demand, especially in the B2B segment, where revenue grew 25%. Gross bookings volume grew 13%, showing consumers' continued interest in travel.

Market reaction: Despite strong results, the stock fell significantly as management left the full-year guidance unchanged, which disappointed investors. The stock has fallen about 13% from its pre-earnings level.

Results: Revenue turned to an 11,8% growth and operating profit growth accelerated 47,7% to 144 million dollars.

Reasons: Growth was driven by strong momentum in the architecture, engineering, construction, and operations (AECO) segment and a 12% growth in recurring revenue, which improved profitability.

Market reaction: Despite strong results and raised guidance, the stock fell over 7% on the day of the earnings. The decline has continued and the stock has dropped nearly 18% in total, reflecting market concerns about the broader economic environment and competition.