This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- Intel (INTC) shares crashed 21% after providing a weak Q4 revenue outlook of $15B to $16B, significantly missing the $17.05B analyst estimate.
- Amazon (AMZN) delivered a strong performance in its cloud division, with AWS sales rising 39% (ex-FX) to $45.98B, helping offset a slight miss on total earnings per share.
- Coinbase (COIN) reported Q3 revenue of $1.22B, meeting expectations despite "soft" crypto market conditions, while doubling its market share of trading volume year-over-year.
- Starbucks (SBUX) saw U.S. comparable sales grow 7.1%, beating estimates, though international performance lagged with only 0.9% growth.
- Sandisk (SNDK) surprised investors with an eight-for-one stock split effective November 19, alongside a significant beat on both revenue and adjusted EPS.
Intel Sinks on Disappointing Outlook
Intel (INTC) experienced a massive sell-off in after-hours trading, with shares dropping 21%. While the company’s Q3 adjusted EPS of $0.52 beat the $0.41 estimate, investors focused heavily on a bleak forecast for the holiday quarter. The chipmaker expects Q4 revenue to land between $15B and $16B, well below the $17.05B anticipated by Wall Street, as it struggles with lower-than-expected demand in its Client Computing group.
Amazon Boosted by Cloud Strength
Amazon (AMZN) reported total net sales of $201.9B for the third quarter. The standout performer was AWS, which generated $45.98B in revenue, representing a 39% increase excluding currency fluctuations. Despite the cloud success, the company reported an EPS of $1.89, slightly missing the $1.91 consensus, and noted a free cash flow outflow of $42.4B for the trailing twelve months.
Mixed Results for Crypto and MicroStrategy
Coinbase (COIN) managed to beat Adjusted EBITDA estimates, posting $332.9M against the $282.9M expected. The company noted that while Q3 was impacted by sluggish crypto markets, macro headwinds are beginning to shift. Meanwhile, MicroStrategy (MSTR) reported Q3 revenue of $125.4M, missing the $128.4B estimate, with cash reserves of $2.50B coming in lower than the projected $3.4B.
Consumer Staples: Starbucks and Mondelez
Starbucks (SBUX) posted a beat in domestic markets with U.S. comparable sales up 7.1%, though total revenue of $9.1B narrowly missed the $9.23B target. The company remains confident in its long-term trajectory, stating it is ahead of schedule for its "Fiscal '28 Financial Framework."
Mondelez (MDLZ) reported a solid quarter with adjusted EPS of $0.78, beating the $0.71 estimate. The snack giant announced it has agreed to acquire Undercover Snacks and expects to deliver organic net revenue growth of 2% for the full year.
Sandisk Announces Major Stock Split
Sandisk (SNDK) caught the market's attention by announcing an eight-for-one stock split scheduled for November 19. The company’s fundamentals remained strong, reporting Q1 revenue of $11.03B, which exceeded the $10.64B estimate, and a massive adjusted gross margin of 85.1%.
Automated market updates written with AI from market data and news wire reports, published without human review.