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Apple is due to release its quarterly financial results today, following a rocky week of earnings from major tech companies. Google and Amazon both disappointed investors last week, triggering a broad sell-off in tech stocks, while Microsoft was a notable exception that satisfied Wall Street.
Santander told CNBC its AI initiatives produced €194 million ($216 million) in business value across the first nine months of 2026, with CFO José García Cantera saying the technology is now cutting costs and boosting revenue simultaneously. Novartis and Standard Chartered also cited AI contributions to third-quarter results, though Novartis did not break out a specific figure from its $6.04 billion core operating income.
CNBC's Jim Cramer said Wall Street volatility likely isn't finished after a rough week in which the Nasdaq, S&P 500 and Dow all reversed early gains to close lower, driven by renewed doubts about the AI trade. He pointed to upcoming catalysts including Tuesday's midterm elections, a jobs report, overseas uncertainty, and more corporate earnings, including Apple and Palantir on Monday. Cramer advised against trying to time a market bottom and instead suggested buying quality companies that have been sold off.
Amazon reported third-quarter results that fell short of Wall Street expectations, citing a shift in Prime Day timing as a drag on sales, even as its AWS cloud unit grew 39.3% to $46 billion, its fastest pace in nearly five years. The company also gave a cautious outlook for the holiday-quarter sales forecast, and shares fell 7% in after-hours trading following the report.
Google is rolling out ads inside AI Mode search results to 10 additional countries, including Australia, Canada and India, with Brazil, Mexico and the UK to follow later this year. In the US, the company is introducing 'multiturn ads' that can appear within follow-up conversational queries when Google detects commercial intent, alongside ads on initial AI Mode searches. The move follows comments from Google's Chief Business Officer Philipp Schindler that search ad revenue growth slowed in Q3 2026 as queries shift to AI Overviews and AI Mode, which monetize at lower rates than traditional search.
Intel shares fell sharply after-hours following fourth-quarter guidance that badly missed Wall Street expectations. The company pointed to persistent weakness in PC demand and a fab explosion in Israel that CFO David Zinsner said will cost roughly $600 million in lost revenue over two quarters. Third-quarter results beat estimates, with data center and AI revenue up 78%, even as client computing revenue declined 5%.
Reddit reported third-quarter revenue of $895 million and EPS of $1.40, both above analyst estimates, but gave weak fourth-quarter sales guidance that sent shares down more than 15%. CEO Steve Huffman said the company will begin testing a requirement for all users to create accounts to access the site, starting outside the U.S. in the fourth quarter, with no firm timeline for a full rollout.
In the quarter ending September 2026, Google Search generated $63.4 billion of Alphabet's $128 billion total revenue, or 49.7%. This marks the first time Search has fallen below 50% of revenue since Alphabet began breaking out the figure separately, down from a range of 52.8% to 62.0% over the prior 31 quarters.
Alphabet reported nearly $128 billion in Q3 2026 revenue and over $26 billion in net income, up 25% year-over-year but with earnings per share of $2.12, well below the $3.02 analysts expected. Chief Business Officer Philipp Schindler noted search volume grew 12% year-over-year, down from 17% in Q2 and 19% in Q1, with search revenue flat, while Google Cloud topped $30 billion, beating forecasts.
Rivian's third-quarter 2026 earnings show the R2 electric vehicle now outselling all of the company's other models for the first time. Total revenue reached $2.155 billion, up 38 percent year over year, with automotive revenue at $1.55 billion and software/subscription revenue at $605 million. Automotive gross losses narrowed to $80 million from $130 million a year earlier, while software and services profit rose to $256 million, boosted largely by licensing deals with Volkswagen.
Amazon reports third-quarter results Thursday, with analysts polled by LSEG expecting adjusted EPS of $1.96 on revenue of $202.31 billion. StreetAccount forecasts AWS revenue of $45.48 billion, implying 38% growth, which would mark a fifth straight quarter of cloud acceleration, while advertising revenue is expected near $20.82 billion.
Alphabet reported search and other segment revenue grew 12% year-over-year to about $63 billion, missing analyst estimates for a second straight quarter even as the company said search query volume grew at its fastest pace in five years. Shares fell roughly 10% in after-hours trading after the company also posted negative free cash flow of $9 billion, triple what analysts expected. Executives attributed the revenue slowdown mainly to foreign exchange effects, which they said would weigh even more heavily next quarter.