Market Signals

Meta Platforms Inc. filed an 8-K with the SEC on July 29, 2026, reporting its financial results for the quarter ended June 30, 2026. The company issued a press release and will hold a conference call to discuss the results. The press release, attached as Exhibit 99.1, includes a reconciliation of GAAP to non-GAAP financial measures. Meta also disclosed that it uses its investor relations website, news website, and the social media accounts of Mark Zuckerberg to disclose material non-public information and comply with Regulation FD. The filing is furnished under Item 2.02 and is not considered filed for purposes of Section 18 of the Exchange Act.

Microsoft filed its annual 10-K for the fiscal year ended June 30, 2026, on July 29. The filing covers financial results across three segments: Intelligent Cloud, Productivity and Business Processes, and More Personal Computing. Revenue and earnings per share are reported in the full document. The Intelligent Cloud segment, anchored by Azure, continued to drive growth, with the company noting increased demand for AI infrastructure and services. Capital expenditures rose as Microsoft expanded data center capacity to support AI workloads. The acquisition of Activision Blizzard, completed in October 2023, contributed to the More Personal Computing segment, with gaming revenue including Xbox content and services. Microsoft also disclosed its investment in OpenAI Global LLC, reflecting its strategic bet on generative AI. The company returned capital to shareholders through dividends and share repurchases. A new $60 billion share repurchase program was authorized in September 2024, with no expiration date. Long-term debt issuances during the year funded investments and working capital. Management's discussion highlights competition in cloud computing and AI, regulatory risks, and the integration of acquired businesses. The filing also includes updates on hedging activities, equity investments, and tax matters, including an ongoing dispute with the IRS.

Microsoft filed an 8-K on July 29, 2026, attaching a press release with financial results for the quarter and fiscal year ended June 30, 2026. The filing is a standard earnings disclosure under Item 2.02. The press release is furnished, not filed, meaning it is not subject to Section 18 liability and cannot be incorporated by reference into other SEC filings unless explicitly stated. Alice L. Jolla, Corporate Vice President and Chief Accounting Officer, signed the report.

Tesla reported a drop in second-quarter revenue as automotive sales declined, while its energy generation and storage business posted a sharp increase. Total revenue for the three months ended June 30 came in at $24.9 billion, down from $25.5 billion a year earlier. Automotive revenue, including regulatory credits and leasing, fell to $19.8 billion from $21.3 billion. The company delivered 443,956 vehicles in the quarter, down from 466,140 in the same period last year. Automotive regulatory credit revenue rose to $1.1 billion from $890 million. Energy generation and storage revenue jumped to $3.5 billion from $2.2 billion, driven by higher deployments of Megapack and Powerwall systems. Services and other revenue edged up to $1.6 billion from $1.5 billion. Gross margin narrowed to 18.2% from 19.5% a year earlier, reflecting lower average selling prices and higher costs tied to new vehicle programs. Operating expenses rose to $3.2 billion from $2.9 billion, partly due to increased spending on artificial intelligence and autonomous driving development. Net income attributable to common stockholders was $1.5 billion, or $0.47 per diluted share, compared with $1.8 billion, or $0.56 per share, a year ago. Cash and cash equivalents stood at $28.4 billion at quarter-end, down from $30.7 billion at the end of 2025. The company said it is on track to begin production of the Cybertruck in late 2026 and continues to ramp output of the Model Y at its Austin and Berlin factories. Tesla also disclosed it held $1.2 billion in bitcoin at June 30, unchanged from year-end, and recorded no impairment or gain on the digital asset during the quarter.

Alphabet reported second-quarter revenue of $92.7 billion, up 14% from a year earlier, driven by a 32% jump in Google Cloud revenue to $12.4 billion. Google Services revenue rose 11% to $67.3 billion, with Search and YouTube advertising each growing 12%. Operating income climbed to $30.2 billion from $27.4 billion, and net income reached $25.6 billion, up from $23.6 billion. The company held $95.4 billion in cash and marketable securities at quarter-end. Alphabet also disclosed it faces ongoing antitrust investigations in the U.S. and abroad, including the DOJ's search distribution case and an EU probe into Google AdTech practices.

Tesla filed an 8-K on July 22, 2026, announcing its financial results for the quarter ended June 30, 2026. The company released its Second Quarter 2026 Update on its website and attached the full text as Exhibit 99.1 to the filing. The update is incorporated by reference and furnished under Item 2.02 of Form 8-K, meaning it is not deemed filed for purposes of Section 18 of the Exchange Act. The filing was signed by General Counsel and Corporate Secretary Brandon Ehrhart. The 8-K itself does not include specific financial figures; those are contained in the attached update.