Q2 Earnings Split by Tesla·Alphabet AI Spending Shock and Intel's Earnings Surprise

실적/어닝스 | Fri Jul 24 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 9 sources

Tesla and Alphabet plunged under AI capex pressure while Intel posted its fastest growth in 15 years, showing divergent Q2 results across sectors.

Analysis

[Tesla] plunged after Q2 earnings miss and worst results announcement ^[3]^[6]

Stock fell 14.5%
wiping out approximately $200 billion in market cap
Revenue of $28.24 billion
up 26% year-over-year
Adjusted EPS of $0.33
below consensus of $0.50
Gross margin contracted from 19.2% to 16.3%
Capex surged 142% year-over-year to $5.8 billion
free cash flow of -$1.09 billion

[Tesla Robotaxi] faced analyst price target cuts amid warnings of slower Robotaxi expansion ^[3]^[1]^[2]

Musk retreated from hyper-exponential expansion comments
Robotaxi fleet remained in the dozens
Analysts including Oppenheimer pointed to technical challenges
Short sellers realized $4 billion in profits

[Alphabet] lost $300 billion in market cap on raised AI capex guidance ^[6]

Stock fell 7.1%
2026 capex guidance raised to $195-205 billion
Up from previous guidance of $180-190 billion
Google Cloud revenue up 82% to $24.8 billion
Concerns over Gemini 3.5 Pro delay

[Intel] delivered earnings surprise with fastest revenue growth in 15 years, beating guidance ^[5]

Q2 revenue of $16.1 billion
up 25% year-over-year
Adjusted EPS of 42 cents
double the expected 21 cents
Data center revenue up 59% to $6.3 billion
Foundry revenue of $5.8 billion
up 31%
Q3 guidance of $15.8-16.8 billion in revenue
EPS of 38 cents

[Union Pacific] raised 2026 annual earnings growth guidance ^[4]

Q2 operating revenue of $6.9 billion
up 12%
Adjusted net income of $2 billion
up 12%
Adjusted EPS of $3.41
up 13%
Annual EPS growth guidance raised to high-single-digit
Norfolk Southern merger regulatory process underway

[American Airlines] lowered 2026 earnings outlook again on surging fuel costs ^[9]

Stock fell 8%
Q2 revenue of $16.74 billion
up 16%
Net income down 88% year-over-year
Annual EPS guidance lowered to -$0.65 to $0.65
Narrowed from previous guidance of -$0.40 to $1.10

[Albertsons] cut FY2026 guidance on consumer slowdown, shares plunged 20% ^[7]

Stock fell more than 20%
Annual net income EPS guidance lowered to $1.75-1.85
Significantly reduced from previous guidance of $2.22-2.32
Adjusted EBITDA lowered to $3.55-3.625 billion
Same-store sales projected at -1.5% to -0.5%

[Comcast] prepared media·broadband spinoff amid NBCUniversal strength ^[8]

Content·Experiences segment revenue up approximately 23% year-over-year
Peacock turned profitable for the first quarter
Boosted by FIFA World Cup and NBA postseason
Broadband subscribers net loss of 167
000
Targeting spinoff completion within approximately one year

Sources