{"id":74226,"date":"2026-11-05T17:38:16","date_gmt":"2026-11-05T21:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/"},"modified":"2026-11-05T17:38:16","modified_gmt":"2026-11-05T21:38:16","slug":"tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/","title":{"rendered":"Tech Earnings Beat Estimates Amidst Market Turmoil and Canadian Fiscal Updates"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/#Market_Bloodbath_Nasdaq_and_S_P_500_Crater\" >Market Bloodbath: Nasdaq and S&amp;P 500 Crater<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/#Tech_Earnings_Cloudflare_and_Airbnb_Shine\" >Tech Earnings: Cloudflare and Airbnb Shine<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/#Lyfts_Mixed_Results_and_DoorDash_Partnership\" >Lyft\u2019s Mixed Results and DoorDash Partnership<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/#Semiconductor_and_Geopolitical_Developments\" >Semiconductor and Geopolitical Developments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-earnings-beat-estimates-amidst-market-turmoil-and-canadian-fiscal-updates\/74226\/#Canadas_Fiscal_Outlook_and_Economic_Projections\" >Canada\u2019s Fiscal Outlook and Economic Projections<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Major U.S. indices plummeted<\/strong> in a massive sell-off, with the <strong>Nasdaq dropping 5.56%<\/strong> and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> falling 4.33%<\/strong> as volatility gripped Wall Street.<\/li>\n<li><strong>Airbnb (<a href=\"\/stock\/ABNB\">ABNB<\/a>) and Cloudflare (<a href=\"\/stock\/NET\">NET<\/a>) delivered strong Q3 beats<\/strong>, providing a <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a> lining to an otherwise brutal trading session for tech investors.<\/li>\n<li><strong>Canada projected a C$62.5 billion budget deficit<\/strong> for 2027\/28 while maintaining immigration targets and lowering GDP growth forecasts.<\/li>\n<li><strong>Lyft (<a href=\"\/stock\/LYFT\">LYFT<\/a>) missed revenue and rider estimates<\/strong> but offset the news by announcing a strategic membership partnership with <strong>DoorDash (<a href=\"\/stock\/DASH\">DASH<\/a>)<\/strong>.<\/li>\n<li><strong>President Trump signaled new restrictions<\/strong> on Russian energy, stating the administration is looking at laws to forbid Russian diesel tankers from operating.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Market_Bloodbath_Nasdaq_and_S_P_500_Crater\"><\/span>Market Bloodbath: Nasdaq and S&amp;P 500 Crater<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. equity markets suffered a historic rout on Thursday. The <strong>Nasdaq Composite plunged 1,430.82 points (5.56%)<\/strong> to close at 24,305.70, while the <strong>S&amp;P 500 dropped 4.33%<\/strong> to 7,355.81. The <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average fell 1,840.31 points (3.45%)<\/strong>, closing at 51,515.81, as investors reacted to a combination of geopolitical tensions and shifting fiscal outlooks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Earnings_Cloudflare_and_Airbnb_Shine\"><\/span>Tech Earnings: Cloudflare and Airbnb Shine<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the broader market decline, several tech heavyweights reported robust quarterly results after the bell. <strong>Cloudflare (<a href=\"\/stock\/NET\">NET<\/a>)<\/strong> shares saw interest after reporting <strong>Q3 revenue of $782.5 million<\/strong>, beating the $741.6 million estimate. The company also raised its full-year revenue guidance to <strong>$2.96 billion<\/strong>, signaling strong demand for cloud security services.<\/p>\n<p><strong>Airbnb (<a href=\"\/stock\/ABNB\">ABNB<\/a>)<\/strong> also outperformed expectations, posting <strong>EPS of $3.16<\/strong> on revenue of <strong>$4.87 billion<\/strong>. The travel giant saw <strong>155 million nights and seats booked<\/strong>, surpassing the 149.09 million anticipated by analysts. For Q4, the company expects revenue between <strong>$3.22 billion and $3.28 billion<\/strong>, which is comfortably above the $3.16 billion consensus.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lyfts_Mixed_Results_and_DoorDash_Partnership\"><\/span>Lyft\u2019s Mixed Results and DoorDash Partnership<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Lyft (<a href=\"\/stock\/LYFT\">LYFT<\/a>)<\/strong> reported a mixed third quarter, with <strong>revenue of $1.82 billion<\/strong> falling short of the $1.92 billion estimate. Active riders reached <strong>31.6 million<\/strong>, slightly below the 31.82 million forecast. However, the company\u2019s <strong>Adjusted EBITDA of $203.9 million<\/strong> beat expectations, and the firm announced a new <strong>$9.99\/month &quot;Lyft Go&quot; membership<\/strong> in partnership with <strong>DoorDash (<a href=\"\/stock\/DASH\">DASH<\/a>)<\/strong> to drive loyalty.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Semiconductor_and_Geopolitical_Developments\"><\/span>Semiconductor and Geopolitical Developments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Microchip Technology (<a href=\"\/stock\/MCHP\">MCHP<\/a>)<\/strong> reported Q2 adjusted EPS of <strong>97 cents<\/strong>, beating the 94-cent estimate. While the company maintained its quarterly dividend at <strong>45.50 cents per share<\/strong>, its Q3 EPS guidance of <strong>87 to 95 cents<\/strong> was slightly cautious compared to the 94-cent analyst estimate.<\/p>\n<p>On the geopolitical front, <strong>President Trump<\/strong> announced that the U.S. is &quot;looking at a law&quot; to forbid <strong>Russian diesel tankers<\/strong>, potentially tightening energy sanctions. Meanwhile, in the Middle East and Asia, <strong>Turkey\u2019s Parliament ratified the Mecca Joint Defence Pact<\/strong> with Pakistan and Saudi Arabia, marking a significant shift in regional security alliances.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Canadas_Fiscal_Outlook_and_Economic_Projections\"><\/span>Canada\u2019s Fiscal Outlook and Economic Projections<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Canadian government released updated fiscal projections, maintaining its <strong>permanent resident target at 380,000 annually<\/strong>. The 2027\/28 budget deficit is projected at <strong>C$62.5 billion<\/strong>, with the federal debt-to-GDP ratio expected to peak at <strong>40.4% in 2028\/29<\/strong>. Canada also lowered its growth expectations, forecasting <strong>2026 GDP growth of 1.0%<\/strong> and <strong>2027 growth of 1.7%<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major U.S. indices plummeted in a massive sell-off, with the Nasdaq dropping 5.56% and the S&amp;P 500 falling [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[997,3772,3848,4180,4260,10460,12431],"class_list":["post-74226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-mchp","tag-lyft","tag-abnb","tag-trump","tag-net","tag-canada-budget","tag-market-crash"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/74226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=74226"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/74226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=74226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=74226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=74226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}