Meta stock tumbles, Microsoft slides, and Alphabet rises as Big Tech earnings pour in

Yahoo Finance’s Daniel Howley reports:

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Yahoo Finance’s Daniel Howley reports:

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Starbucks (SBUX) stock popped as much as 3% in extended trading after the coffee company returned to global same-store sales growth.

Yahoo Finance’s Brooke DiPalma reports:

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In another upcoming earnings report, Alphabet (GOOG, GOOGL) will reveal more details about how the AI boom is shaping the Google parent’s business. Yahoo Finance’s Laura Bratton breaks down what analysts will be watching for:

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Yahoo Finance’s Daniel Howley also previews what to watch when Meta (META) reports earnings:

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Microsoft is set to report first quarter results, offering Wall Street its latest look at the company’s AI and cloud growth. Yahoo Finance’s Daniel Howley previews what to expect when Microsoft reports after the bell on Wednesday:

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Yahoo Finance’s David Hollerith reports:

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Etsy (ETSY) stock took a hit on Wednesday morning, falling more than 9%, after the company announced a new CEO and reported a decline in gross merchandise sales for the third quarter compared to the same period last year.

Still, earnings of $0.63 per share topped estimates for earnings of $0.52.

Reuters reports:

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Yahoo Finance’s Pras Subramanian reports:

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Caterpillar (CAT) sales rose in the third quarter, but so did its manufacturing costs.

The mining and construction machinery maker recorded adjusted profits per share of $4.88, which was above analysts’ estimates of $4.52, according to S&P Global Market Intelligence, but an $0.18 decrease from the same period a year ago.

Higher manufacturing costs offset higher sales volumes, the company said. It also noted that “unfavorable manufacturing costs largely reflected the impact of higher tariffs.” In Q2, CEO Joseph Creed stated that the company expects a tariff impact of $1.3 billion to $1.5 billion for the full year.

By segment, construction industries profits fell 7% year over year to $1.37 billion, while resource industries profits declined 19% to $499 million. Energy and transportation profits increased 17% to $1.67 billion in Q3. Financial products profits dropped 2% to $241 million.

Caterpillar stock rose 4.6% in premarket trading.

Enphase (ENPH) shares tumbled over 7% in extended trading as the residential solar company issued a weaker fourth quarter outlook than the Street was looking for.

The company, which makes microinverters, batteries, and solar energy systems for homeowners, sees revenue in a range of $310 million to $350 million for the fourth quarter. Consensus estimates were guiding for revenue of $382 million. Enphase also sees gross margins within a range of 40% to 43%, including approximately five percentage points of reciprocal tariff impact. The Street was expecting 44.2% margins.

The residential solar industry has been weathering ongoing weakness in solar demand since 2023. Enphase CEO Badri Kothandaraman said on the company’s earnings call that while demand is ramping back up in the US, it remains soft in much of Europe.

“2025 policy changes have extended payback period, creating a tough market for installers,” Kothandaraman said.

Reuters reports:

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Visa (V) customers continued to swipe and tap their cards even as consumer sentiment deteriorated during the quarter.

For the fiscal fourth quarter, Visa reported adjusted net income of $5.8 billion, or $2.98 per share, on revenue of $10.7 billion, a 12% year over year increase. Analysts were looking for net income per share of $2.97 on revenue of $10.6 billion.

Visa said overall payment volume increased 9% over the prior year, while the total number of transactions processed by Visa grew 10% year over year to 67.7 billion.

“Continued healthy consumer spending drove net revenue up 12% to $10.7 billion,” Visa CEO Ryan McInerney said in the release.

Visa stock rose less than 1% in after-hours trading.

Mondelez (MDLZ) stock sank 4% in after-hours trading as the Oreo maker reported a top-line beat but pointed to difficulties in the current macroeconomic backdrop.

Diluted earnings per share fell 9.5% year over year to $0.57. Analysts were looking for earnings of $0.70, according to S&P Global Market Intelligence. Excluding adjustments from divestitures, acquisitions, and other one-time costs, adjusted earnings per share came to $0.73 per share.

The company reported revenue of $9.74 billion, topping estimates of $9.68 billion. However, net revenues in North America declined as higher cocoa prices weighed on volumes.

Mondelez also called out the challenging macroeconomic backdrop as it forecast a roughly 15% decline in earnings per share for the full year.

“Although we anticipate challenging conditions to continue in some markets, we are encouraged by recent moderation in cocoa prices, as well as promising signs for a strong cocoa crop this fall,” Mondelez CEO Dirk Van de Put said in a statement. “Our teams are focused on executing clear plans for volume improvement, significantly increasing growth investments, and driving meaningful cost efficiencies.”