Netflix highlights as second quarter earnings season ramps up

Abbott’s (ABT) second quarter profits beat Wall Street estimates, but its third quarter forecast came in lighter than expected, sending shares over 4% lower in premarket trading.

The healthcare and medical device company reported Q2 revenue of $11.14 billion, beating expectations of $11.07 billion, according to data compiled by LSEG.

Notably, sales of Abbott’s continuous glucose monitors jumped 21.4% to $1.9 billion in the quarter.

On an adjusted basis, the company reported a profit of $1.26 per share for the second quarter, compared with estimates of $1.25.

For the third quarter, Abbott sees profit coming in between $1.28 and $1.32 per share.

Reuters also reported that Abbott announced plans to build a manufacturing facility in Georgia by 2028 to support its cardiovascular business. That facility, along with two others planned for Illinois and Texas, aim to help Abbott mitigate any impact from President Trump’s tariffs.

> Listen to the earnings call live at 9 a.m. ET on the stock ticker page.

Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year.

TSMC, which is Nvidia’s (NVDA) primary chip manufacturer, said artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year.

Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue.

“China is a big market, and my customer can continue to supply the chip to the big market,” TSMC CEO C.C. Wei said at a press conference. “It’s very positive news for them, and in return, it’s very positive news for TSMC.”

While TSMC has not seen changes in customers’ behavior so far, it cautioned that tariffs could affect income in the fourth quarter.

TSMC stock rose 3% in premarket trading.

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United Airlines (UAL) reported mixed results on Wednesday but said it sees a “positive inflection” through the rest of the year.

Adjusted earnings for the second quarter were $3.87 per share, above expectations for $3.84, on revenue of $15.24 billion, a slight miss versus expectations for $15.33 billion.

The air carrier now sees full-year adjusted earnings per share guidance in the range of $9 to $11. As of Wednesday, analysts were expecting an adjusted profit of $9.92 on average for the year, per Bloomberg. For the third quarter, United forecast that adjusted profits would come in between $2.25 and $2.75 a share.

Both outlooks were below United’s previous guidance for the year. In the first quarter, United maintained its full-year forecast for adjusted earnings per share of $11.50 to $13.50 but offered a second forecast should the US fall into recession.

Shares fell 1.5% in after-hours trading. United stock surged 13% last Thursday on the heels of Delta’s (DAL) report.

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Markets were highly volatile in the second quarter, with President Trump’s tariff announcements and geopolitical events such as the Israel-Iran war leading to major S&P 500 swings.

But this week’s bank earnings show that volatility made it a good time to be a stock trader at a major bank. Yahoo Finance’s Jake Conley reports:

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Progressive (PGR) stock gained roughly 2% in midday trading on Wednesday after the insurance company reported year-over-year sales growth of 15.7%, amounting to $20.99 billion.

Earnings came in at $5.40 per share, 14.8% above analysts’ estimates.

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In an earnings call on Tuesday, J.B. Hunt (JBHT) executive vice president Spencer Frazier highlighted that it continues to be challenging to forecast demand this year amid trade policy disruptions.

“Some [customers] stayed the course,” Frazier said about the clients’ behavior in the second quarter. “Some paused certain items. Some pulled inventory forward.”

“Really, all of them, longer-term, are considering their sourcing strategies,” he added, “and that makes for a very dynamic forecasting challenge for them and for us.”

The Arkansas-based surface transport and freight company reported earnings per share of $1.31 for the second quarter that were largely in line with analysts’ expectations. Its revenue of $2.93 billion was flat year over year.

Frazier said that the company started its peak season surcharge program earlier this year due to the uncertainty and volatility. In the second quarter, he noted that overall customer demand trended modestly below normal seasonality.

ASML (ASML, ASML.AS) shares fell almost 8% in premarket trading after the Dutch firm warned sales may fall next year and said it may not achieve growth in 2026.

The warning came even as the world’s biggest supplier of chipmaking gear’s second quarter bookings topped Wall Street estimates on Wednesday.

“We continue to see increasing uncertainty driven by macro-economic and geopolitical developments,” ASML CEO Christophe Fouquet said in a statement on ASML’s quarterly results Wednesday. “Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.”

Bloomberg reports:

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Reuters reports:

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Johnson & Johnson (JNJ) reported second quarter earnings that beat Wall Street estimates Wednesday due to strong demand for its cancer drug, Darzalex, and strength in its medical device business.

The company reported revenue of $23.7 billion, versus the $22.8 billion estimated by Wall Street analysts surveyed by Bloomberg. Earnings per share came in at $2.77, versus estimates of $2.66.

Johnson & Johnson raised its full-year sales outlook to a range of $93.2 billion to $93.6 billion, boosting shares by 1.7% in premarket trading.

Yahoo Finance’s Anjalee Khemlani reports:

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Goldman Sachs (GS) joined JPMorgan Chase (JPM) and Citigroup (C) in reporting higher dealmaking and trading revenue for the second quarter.

Though dealmaking halted following President Trump’s April 2 tariff announcement, bankers saw momentum pick up following the tariff pause and as Trump began to loosen some supervisory rules.

Yahoo Finance’s David Hollerith reports:

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Yahoo Finance’s Jake Conley reports:

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Albertsons stock (ACI) fell 4% at the market open after the grocer kept its full-year adjusted profit outlook the same, despite beating earnings estimates and raising its annual sales forecast.

Grocers like Albertsons have benefited from consumers’ shift to value and continued spending on necessities despite inflationary pressures.

Per Reuters, Albertsons posted quarterly sales of $24.88 billion, just ahead of the average analyst estimate of $24.73 billion, as surveyed by LSEG. Same-store sales for the quarter ended June 14 rose 2.8%, compared to a 1.4% increase a year ago, driven by strong growth in pharmacy sales.

For the full year, the company raised its outlook for same-store sales. It now sees sales growth of 2% to 2.75%, up from its prior forecast of 1.5% to 2.5%.

Its quarterly adjusted net income per share of $0.55 beat estimates of $0.53.

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Reuters reports:

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JPMorgan Chase’s (JPM) second quarter results came in better than expected on Tuesday, though shares in the bank were lower by less than 1% in premarket trading.

Yahoo Finance’s David Hollerith reports:

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