ServiceNow’s contract growth guidance and Fortinet’s product growth failed to meet optimistic investors’ thresholds; eBay raised its full-year transaction volume outlook, while KLA’s revenue guidance for the quarter ending in December exceeded market consensus.
Alphabet’s third-quarter revenue rose 25% year over year, and its cloud business grew 103%; search usage accelerated while advertising growth slowed, and heavy capital spending and TPU inventory buildup turned free cash flow negative.
The low comparison base created by a restatement of last year’s results failed to prevent a revenue decline; sales cash receipts and liabilities associated with returned inventory show that channel pressure persists. Bernstein lowered its earnings forecasts and target price, while saying buybacks could provide short-term support.
Bernstein believes a recovery in Chinese consumption and adjustments to leather goods prices could drive an industry improvement, but AI and deglobalization may squeeze middle-class demand over the longer term. The growth gap between jewelry and handbags could also narrow as brands adjust their pricing.
Third-quarter revenue and core operating profit both fell short of market consensus, while net profit attributable to shareholders exceeded expectations mainly because of non-recurring gains. The company maintained its full-year growth guidance, implying a significant jump in fourth-quarter revenue from the third quarter.
Fiscal 2026 fourth-quarter revenue and earnings both exceeded Visible Alpha consensus estimates, although some buy-side investors had expected a larger beat. Bernstein placed greater emphasis on growth in orders and backlog while lowering its earnings-per-share forecasts for fiscal 2027 and 2028.
In the third quarter of 2026, industrial robot sales rose 13% year on year and fell 10% quarter on quarter. Domestic brands’ overall share declined from 60% in the previous quarter to 56%; in the industrial automation market, OEM growth offset a contraction in the project market.
Record personal loan originations in the third quarter of 2026 pushed SoFi’s revenue and earnings above expectations. Citi is optimistic about the expansion of the capital-light loan platform while lowering its assumptions for financial services profitability and technology business growth.
Xinbao's third-quarter revenue rose 1% year over year, while net profit fell 71%, below Goldman Sachs' expectations. Goldman expects growth in both domestic and export sales to remain weak in the fourth quarter and has lowered its earnings forecasts and price target.
Zijin Mining’s mined copper output fell year on year in the first three quarters, while mined gold output also missed expectations. Citi raised its cost assumptions and lowered its earnings forecasts, but remains optimistic about growth in copper, gold and lithium production over the next three years.
Weak demand weighed on third-quarter results, while an improved product mix failed to fully offset cost and currency pressures. The company is turning to price increases, expense optimization and overseas brand expansion; Goldman Sachs has lowered its earnings forecasts for the next three years.
Wanhua Chemical’s third-quarter net profit rose 84% year over year, beating Goldman Sachs’ estimate by 10%; volume growth and cost control offset pressure from narrowing spreads, while free cash flow also improved markedly.
Improved supply chains in the Americas supported third-quarter performance, while the project pipeline in Europe, the Middle East and Africa also accelerated. Citi raised its earnings forecasts for the next three years, but margins in the Americas were slightly below its expectations, and execution of capacity expansion remains crucial.
Third-quarter orders reached HK$8.8 billion, and the lower end of fourth-quarter revenue guidance exceeded market consensus. Citi believes a slowdown in HBM layer-count upgrades has delayed purchases of thermocompression bonding equipment, but the logic-chip and photonics businesses continue to support growth.
Third-quarter results modestly beat expectations and the industrial business recovered, but automotive growth was weaker than at some peers, the AI data center business is small, and margin expansion is constrained. Bank of America maintains its neutral rating.
Hard-drive capacity shipments for the quarter ended in September fell short of expectations, but pricing and margins strengthened; the company expects shipments to recover in the December quarter, with guidance above market consensus.
Goldman Sachs expects Weichai Power’s AI data center power generation business to grow to approximately 10 times its current size by 2028 and contribute more than half of the company’s earnings. Its assessment rests on U.S. data center demand, generator supply constraints and higher-power configurations.
Citi believes that, beyond capacity expansion, CPO testing equipment and the new Mega Tray design could increase value per machine; however, it cut its target price to NT$10,000 due to a lower industry valuation multiple.
Citi says CoolIT and Ovivo performed better than expected and Ecolab’s overall price increases outpaced cost increases, but cost inflation is expected to intensify quarter over quarter in the fourth quarter. The bank raised its price target while slightly lowering its 2027 earnings per share forecast.
NXP’s third-quarter results slightly exceeded expectations, and the company expects double-digit revenue growth in 2027; however, investment in new products has lowered Citi’s profit forecasts, and automotive customers have yet to begin broad-based restocking.
