Q2 Earnings Contrast: Meta Plunges While Microsoft and Ferrari Surge

실적/어닝스 | Fri Jul 31 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 7 sources

Meta shares plunged on AI investment burden while Microsoft, Ferrari, and Chipotle beat earnings expectations, and Yum Brands felt the impact of cyclospora.

Analysis

[Meta Platforms] plunged on earnings disappointment and guidance cut amid expanded AI investment ^[1]^[3]

Missed Wall Street EPS consensus and delivered weak next-quarter revenue guidance
Free cash flow shrank sharply due to expanded AI infrastructure spending
Fell approximately 10% in pre-market trading

[Meta Reality Labs] posted a $4.6 billion operating loss in Q2 ^[7]

Revenue of $431 million
up from $370 million a year earlier
Operating loss widened to $4.62 billion from $4.53 billion a year earlier
Slightly better than StreetAccount's expected loss of $5.07 billion

[Microsoft] surged on revenue beat and expanded capital expenditure ^[3]

Beat analyst revenue expectations
Announced increased capital expenditure citing strong demand
Shares rose over 9% in pre-market trading

[Ferrari] raised 2026 guidance after Q2 earnings beat ^[5]

Adjusted EPS of €2.62 topped the €2.50 consensus
Revenue of €1.94 billion beat the expected €1.88 billion
Raised 2026 revenue guidance from €7.5 billion to €7.6 billion
Order book full through 2027

[Stellantis] returned to profit driven by North American demand recovery ^[6]

Q2 net profit of €293 million
swinging from a €1.87 billion loss a year earlier
Adjusted operating income tripled to €773 million but missed €914 million consensus
Tariff costs expected to be at least €1 billion
Milan-listed shares plunged over 8%

[Yum Brands (Taco Bell)] showed recovery signs after cyclospora incident hit Taco Bell sales ^[4]

U.S. same-store sales down 2% through July 27 in Q3
Sales trends improved over the past 10 days with recent 4-day sales recovering approximately 50%
Shares rose over 3% on optimistic earnings commentary

[Chipotle Mexican Grill] raised full-year same-store sales guidance after Q2 earnings beat ^[3]

Beat consensus on both revenue and EPS
Shares surged 6% after earnings release
Warned of July sales decline due to cyclospora concerns

[Saia] achieved record quarterly revenue and rolled out GRI and Saia REV ^[2]

Q2 revenue of $956 million
up 17.1% year-over-year
a company all-time high
Implemented a 7.1% general rate increase (GRI) in July
Q3 operating ratio (OR) expected to deteriorate approximately 100bps sequentially

Q2 Earnings Contrast: Meta Plunges While Microsoft and Ferrari Surge

Analysis

Sources