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Tesla’s $TSLA push to trademark “Robotaxi” has hit a snag, per Tech Crunch. The USPTO just refused the trademark for vehicles, calling it too generic. Tesla has 3 months to respond. Meanwhile, “Cybercab” and ride-hailing-related “Robotaxi” marks are still under review. https://t.co/oL2vGmm5u1
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Tesla’s $TSLA push to trademark “Robotaxi” has hit a snag, per Tech Crunch. The USPTO just refused the trademark for vehicles, calling it too generic. Tesla has 3 months to respond. Meanwhile, “Cybercab” and ride-hailing-related “Robotaxi” marks are still under review. https://t.co/oL2vGmm5u1
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Nintendo expects demand for the new Switch 2, launching June 5, to lift profit this year despite a sharp drop in FY24 earnings. The company sees FY25 net income rising 7.6% to ¥300B on 15M Switch 2 unit sales. Tariffs remain a key risk, with execs warning they’ve already cost tens of billions of yen.
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Nintendo expects demand for the new Switch 2, launching June 5, to lift profit this year despite a sharp drop in FY24 earnings. The company sees FY25 net income rising 7.6% to ¥300B on 15M Switch 2 unit sales. Tariffs remain a key risk, with execs warning they’ve already cost tens of billions of yen.
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Trump: "Too Late” Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! https://t.co/rcnk8FQvwi
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Trump: "Too Late” Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! https://t.co/rcnk8FQvwi
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$UPS is sticking to its plan to cut over half its Amazon delivery business by mid-2026, even as tariff uncertainty grows. CFO says the move gives UPS more control over margins by focusing on more profitable shipments. The pivot also includes $3.5B in cost cuts and a push into healthcare logistics.
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$UPS is sticking to its plan to cut over half its Amazon delivery business by mid-2026, even as tariff uncertainty grows. CFO says the move gives UPS more control over margins by focusing on more profitable shipments. The pivot also includes $3.5B in cost cuts and a push into healthcare logistics.
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$SHOP | Shopify Q1'25 Earnings Highlights
🔹 Revenue: $2.36B (Est. $2.33B) 🟢; +27% YoY
🔹 Oper. Income: $203M (Est. $208M) 🔴; +136% YoY
🔹 GMV: $74.75B (Est. $74.8B) 🟡; +23% YoY
🔹 MRR: $182M; +20.5% YoY
Q2'25 Guide:
🔹 Revenue: Expected to grow at a mid-20s % rate YoY vs 23% est 😐
🔹 Gross Profit Dollars: Expected to grow at high-teens % rate YoY
🔹 Operating Expense as % of Revenue: 39%–40%
🔹 Free Cash Flow Margin: Mid-teens (in line with Q1)
🔹 Stock-based Compensation: ~$120M
Segment Revenue:
🔹 Subscription Solutions: $620M (UP +21% YoY)
🔹 Merchant Solutions: $1.74B (UP +29% YoY)
Other Key Metrics:
🔹 Gross Profit: $1.17B; UP +22% YoY
🔹 Free Cash Flow: $363M; UP +56% YoY
🔹 Free Cash Flow Margin: 15% (vs. 12% YoY)
🔹 Net Income Excl. Equity Investments: $226M; UP +57% YoY
Operational Highlights:
🔸 Achieved 7 consecutive quarters of GMV growth above 20%
🔸 Free cash flow margin remained in double-digits for the 7th straight quarter
🔸 8 consecutive quarters of pro forma revenue growth >25%
CEO Harley Finkelstein Commentary:
🔸 "Our Q1 results confirm that we are delivering both growth and profitability at scale. Businesses perform better on Shopify, regardless of market conditions."
CFO Jeff Hoffmeister Commentary:
🔸 "Another very strong quarter for Shopify with 27% revenue growth and continued margin strength. Highlights our operational discipline and merchant-first strategy."
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$SHOP | Shopify Q1'25 Earnings Highlights
🔹 Revenue: $2.36B (Est. $2.33B) 🟢; +27% YoY
🔹 Oper. Income: $203M (Est. $208M) 🔴; +136% YoY
🔹 GMV: $74.75B (Est. $74.8B) 🟡; +23% YoY
🔹 MRR: $182M; +20.5% YoY
Q2'25 Guide:
🔹 Revenue: Expected to grow at a mid-20s % rate YoY vs 23% est 😐
🔹 Gross Profit Dollars: Expected to grow at high-teens % rate YoY
🔹 Operating Expense as % of Revenue: 39%–40%
🔹 Free Cash Flow Margin: Mid-teens (in line with Q1)
🔹 Stock-based Compensation: ~$120M
Segment Revenue:
🔹 Subscription Solutions: $620M (UP +21% YoY)
🔹 Merchant Solutions: $1.74B (UP +29% YoY)
Other Key Metrics:
🔹 Gross Profit: $1.17B; UP +22% YoY
🔹 Free Cash Flow: $363M; UP +56% YoY
🔹 Free Cash Flow Margin: 15% (vs. 12% YoY)
🔹 Net Income Excl. Equity Investments: $226M; UP +57% YoY
Operational Highlights:
🔸 Achieved 7 consecutive quarters of GMV growth above 20%
🔸 Free cash flow margin remained in double-digits for the 7th straight quarter
🔸 8 consecutive quarters of pro forma revenue growth >25%
CEO Harley Finkelstein Commentary:
🔸 "Our Q1 results confirm that we are delivering both growth and profitability at scale. Businesses perform better on Shopify, regardless of market conditions."
CFO Jeff Hoffmeister Commentary:
🔸 "Another very strong quarter for Shopify with 27% revenue growth and continued margin strength. Highlights our operational discipline and merchant-first strategy."
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$WBD | Warner Bros. Discovery Q1'25 Earnings Highlights
🔹 Adj EPS: -$0.18 (Est. -$0.13) 🔴
🔹 Revenue: $8.98B (Est. $9.59B) 🔴
🔹 Total Subscribers: 122.3M (Est. 119.8M) 🟢; +5.3M QoQ
Streaming Segment
🔹 Adjusted EBITDA: $339M
🔹 Goal: ≥ $1.3B Streaming EBITDA in FY25
🔹 Subscriber Growth: +5.3M in Q1; +22.6M YoY
🔹 International Expansion: Max now in 85+ markets
Key Shows Driving Viewership:
🔹 White Lotus S3: 25M avg viewers/ep
🔹 The Pitt: 12M avg viewers; Season 2 greenlit
🔹 Local Hits:
🔹 Mexico's Like Water for Chocolate
🔹 Brazil's Scars of Beauty
🔹 The Eastern Gate (Poland), When No One Sees Us (Spain)
🔸 “Streaming growth driven by premium content, global rollouts, bundling, and improved user features.”
Studios Segment
🔹 Profitability: YoY improvement in Adj EBITDA
🔹 Minecraft Movie: ~$900M global box office
🔹 Sinners: ~$250M box office, 97% critic/audience rating
🔹 Superman releasing July 11
🔹 TV Pipeline: Running Point, Ted Lasso S4, Peacemaker S2, Harry Potter series (2027)
🔸 “Studios gaining traction across film, TV, and licensing with strong IP monetization.”
Global Linear Networks
🔹 Domestic Ad Revenue: +5% YoY
🔹 Affiliate Rate Growth: +2%
🔹 Pay TV Subs: -9%
🔹 EMEA: ~20% of global ad revenue
🔹 Sports Lineup: March Madness boost in Q1; French Open & NASCAR coming Q2
🔸 “Balancing decline in linear with strong international performance and bundled offerings.”
Financials & Capital
🔹 Free Cash Flow: $302M
🔹 Operating Cash Flow: $553M
🔹 Gross Debt: $38.0B
🔹 Cash Balance: $4.0B
🔹 Net Leverage: 3.8x
🔸 “Focused on deleveraging and capturing interest savings via proactive debt restructuring.”
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$WBD | Warner Bros. Discovery Q1'25 Earnings Highlights
🔹 Adj EPS: -$0.18 (Est. -$0.13) 🔴
🔹 Revenue: $8.98B (Est. $9.59B) 🔴
🔹 Total Subscribers: 122.3M (Est. 119.8M) 🟢; +5.3M QoQ
Streaming Segment
🔹 Adjusted EBITDA: $339M
🔹 Goal: ≥ $1.3B Streaming EBITDA in FY25
🔹 Subscriber Growth: +5.3M in Q1; +22.6M YoY
🔹 International Expansion: Max now in 85+ markets
Key Shows Driving Viewership:
🔹 White Lotus S3: 25M avg viewers/ep
🔹 The Pitt: 12M avg viewers; Season 2 greenlit
🔹 Local Hits:
🔹 Mexico's Like Water for Chocolate
🔹 Brazil's Scars of Beauty
🔹 The Eastern Gate (Poland), When No One Sees Us (Spain)
🔸 “Streaming growth driven by premium content, global rollouts, bundling, and improved user features.”
Studios Segment
🔹 Profitability: YoY improvement in Adj EBITDA
🔹 Minecraft Movie: ~$900M global box office
🔹 Sinners: ~$250M box office, 97% critic/audience rating
🔹 Superman releasing July 11
🔹 TV Pipeline: Running Point, Ted Lasso S4, Peacemaker S2, Harry Potter series (2027)
🔸 “Studios gaining traction across film, TV, and licensing with strong IP monetization.”
Global Linear Networks
🔹 Domestic Ad Revenue: +5% YoY
🔹 Affiliate Rate Growth: +2%
🔹 Pay TV Subs: -9%
🔹 EMEA: ~20% of global ad revenue
🔹 Sports Lineup: March Madness boost in Q1; French Open & NASCAR coming Q2
🔸 “Balancing decline in linear with strong international performance and bundled offerings.”
Financials & Capital
🔹 Free Cash Flow: $302M
🔹 Operating Cash Flow: $553M
🔹 Gross Debt: $38.0B
🔹 Cash Balance: $4.0B
🔹 Net Leverage: 3.8x
🔸 “Focused on deleveraging and capturing interest savings via proactive debt restructuring.”
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$CROX | Crocs Q1'25 Earnings Highlights
🔹 Adj EPS: $3.00 (Est. $2.49) 🟢
🔹 Revenue: $937M (Est. $907.9M) 🟢; +1.4% YoY (cc)
🔹 Inventories: $391M (Flat YoY)
FY25 Guidance Withdrawn
🔹 Prior guide was EPS $12.70–13.15; Revenue growth +2–2.5%
🔹 Withdrawal due to macro/trade-policy uncertainty
Brand & Segment Highlights
Crocs Brand
🔹 Revenue: $762M; +2.4% YoY (+4.2% cc)
🔹 DTC Revenue: $285M; +1.1% YoY (+2.5% cc)
🔹 Wholesale Revenue: $477M; +3.2% YoY (+5.3% cc)
🔹 North America: $369M; -3.8% YoY (-3.4% cc)
🔹 International: $393M; +8.9% YoY (+12.3% cc)
HEYDUDE Brand
🔹 Revenue: $176M; -9.8% YoY (-9.5% cc)
🔹 DTC Revenue: $65M; +8.3% YoY
🔹 Wholesale Revenue: $111M; -17.9% YoY
Other Key Metrics:
🔹 Gross Margin: 57.8% (vs. 56.0% YoY)
🔹 Adj Oper Margin: 23.8% (vs. 27.1% YoY)
🔹 Cash: $166M (vs. $159M YoY)
🔹 Debt: $1.48B (vs. $1.73B YoY)
🔹 CapEx: $15M (vs. $16M YoY)
🔹 Share Buybacks: $61M (0.6M shares @ avg $100.23)
🔹 $1.3B in remaining repurchase authorization
CEO Andrew Rees Commentary
🔸 “Proud of our Q1 outperformance despite volatility—both Crocs and HEYDUDE contributed to upside.”
🔸 “The current environment presents an opportunity to gain share as we focus on execution and lean into our competitive advantages.”
🔸 “We’re remaining disciplined and transparent while navigating a rapidly shifting trade landscape.”
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$CROX | Crocs Q1'25 Earnings Highlights
🔹 Adj EPS: $3.00 (Est. $2.49) 🟢
🔹 Revenue: $937M (Est. $907.9M) 🟢; +1.4% YoY (cc)
🔹 Inventories: $391M (Flat YoY)
FY25 Guidance Withdrawn
🔹 Prior guide was EPS $12.70–13.15; Revenue growth +2–2.5%
🔹 Withdrawal due to macro/trade-policy uncertainty
Brand & Segment Highlights
Crocs Brand
🔹 Revenue: $762M; +2.4% YoY (+4.2% cc)
🔹 DTC Revenue: $285M; +1.1% YoY (+2.5% cc)
🔹 Wholesale Revenue: $477M; +3.2% YoY (+5.3% cc)
🔹 North America: $369M; -3.8% YoY (-3.4% cc)
🔹 International: $393M; +8.9% YoY (+12.3% cc)
HEYDUDE Brand
🔹 Revenue: $176M; -9.8% YoY (-9.5% cc)
🔹 DTC Revenue: $65M; +8.3% YoY
🔹 Wholesale Revenue: $111M; -17.9% YoY
Other Key Metrics:
🔹 Gross Margin: 57.8% (vs. 56.0% YoY)
🔹 Adj Oper Margin: 23.8% (vs. 27.1% YoY)
🔹 Cash: $166M (vs. $159M YoY)
🔹 Debt: $1.48B (vs. $1.73B YoY)
🔹 CapEx: $15M (vs. $16M YoY)
🔹 Share Buybacks: $61M (0.6M shares @ avg $100.23)
🔹 $1.3B in remaining repurchase authorization
CEO Andrew Rees Commentary
🔸 “Proud of our Q1 outperformance despite volatility—both Crocs and HEYDUDE contributed to upside.”
🔸 “The current environment presents an opportunity to gain share as we focus on execution and lean into our competitive advantages.”
🔸 “We’re remaining disciplined and transparent while navigating a rapidly shifting trade landscape.”
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$PTON | Peloton Q3'25 Earnings Highlights
🔹 Adj EPS: -$0.12 (Est. -$0.07) 🔴
🔹 Revenue: $624M (Est. $623.0M) 🟢; DOWN -13% YoY
🔹 Adj EBITDA: $89.4M (Est. $85M) 🟢; UP +1,434% YoY
Full-Year FY25 Guidance (Updated)
🔹 Revenue: $2.455B–$2.47B (Est. $2.46B) 🟡
🔹 Adj EBITDA: $330M–$350M (Prior: $300M–$350M) 🟢
🔹 Connected Fitness Subscriptions: 2.77M–2.79M (Prior: 2.75M)
🔹 App Subscriptions: 0.54M–0.55M (DOWN -12% YoY)
🔹 Total Gross Margin: 50.0% (vs. 44.7% FY24); +530 bps YoY
🔹 Free Cash Flow: ~$250M (Including ~$5M headwind from tariffs)
Segment Performance
Subscription
🔹 Revenue: $418.5M; DOWN -4% YoY
🔹 Gross Margin: 69.0% (vs. 68.1% YoY)
🔹 Contribution Margin: 72.9% (vs. 72.3% YoY)
🔹 Ending Paid Connected Fitness Subscriptions: 2.88M; DOWN -6% YoY
🔹 Avg Monthly Churn: 1.2% (Flat YoY)
Connected Fitness Products
🔹 Revenue: $205.5M; DOWN -27% YoY
🔹 Gross Margin: 14.3% (vs. 4.2% YoY)
Other Key Metrics:
🔹 Free Cash Flow: $94.7M
🔹 Operating Expenses: $350.5M; DOWN -23% YoY
🔹 Net Loss: -$47.7M; Improvement from -$167.3M YoY
Strategic Updates
🔸 Subscription growth is the core strategy, offsetting hardware softness
🔸 New CEO Peter Stern (ex-Apple & Ford) is executing a pivot to software and recurring revenue
🔸 Marketing cut -46% YoY, yet hardware sales decline was less severe at -27%
🔸 300 bps YoY increase in men joining Peloton
🔸 70,000 members used newly launched kettlebell training
🔸 Nearly 500,000 users started AI-powered Personalized Plans
🔸 Expanded reach via Hilton hotels, Amazon, and a UT Austin campus studio
🔸 International expansion supported by AI-driven subtitles and localized campaigns
CEO Peter Stern Commentary
🔸 “We delivered at the high end or above on all key Q3 metrics. Our shift toward subscriptions is working, and our cost structure is leaner.”
🔸 “Tariff risk is real, but manageable. We’re well-positioned to lead in fitness and wellness.”
🔸 “Excited about FY26 plans. Strategy is centered on improving outcomes, growing lifetime value, and operating with excellence.”
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$PTON | Peloton Q3'25 Earnings Highlights
🔹 Adj EPS: -$0.12 (Est. -$0.07) 🔴
🔹 Revenue: $624M (Est. $623.0M) 🟢; DOWN -13% YoY
🔹 Adj EBITDA: $89.4M (Est. $85M) 🟢; UP +1,434% YoY
Full-Year FY25 Guidance (Updated)
🔹 Revenue: $2.455B–$2.47B (Est. $2.46B) 🟡
🔹 Adj EBITDA: $330M–$350M (Prior: $300M–$350M) 🟢
🔹 Connected Fitness Subscriptions: 2.77M–2.79M (Prior: 2.75M)
🔹 App Subscriptions: 0.54M–0.55M (DOWN -12% YoY)
🔹 Total Gross Margin: 50.0% (vs. 44.7% FY24); +530 bps YoY
🔹 Free Cash Flow: ~$250M (Including ~$5M headwind from tariffs)
Segment Performance
Subscription
🔹 Revenue: $418.5M; DOWN -4% YoY
🔹 Gross Margin: 69.0% (vs. 68.1% YoY)
🔹 Contribution Margin: 72.9% (vs. 72.3% YoY)
🔹 Ending Paid Connected Fitness Subscriptions: 2.88M; DOWN -6% YoY
🔹 Avg Monthly Churn: 1.2% (Flat YoY)
Connected Fitness Products
🔹 Revenue: $205.5M; DOWN -27% YoY
🔹 Gross Margin: 14.3% (vs. 4.2% YoY)
Other Key Metrics:
🔹 Free Cash Flow: $94.7M
🔹 Operating Expenses: $350.5M; DOWN -23% YoY
🔹 Net Loss: -$47.7M; Improvement from -$167.3M YoY
Strategic Updates
🔸 Subscription growth is the core strategy, offsetting hardware softness
🔸 New CEO Peter Stern (ex-Apple & Ford) is executing a pivot to software and recurring revenue
🔸 Marketing cut -46% YoY, yet hardware sales decline was less severe at -27%
🔸 300 bps YoY increase in men joining Peloton
🔸 70,000 members used newly launched kettlebell training
🔸 Nearly 500,000 users started AI-powered Personalized Plans
🔸 Expanded reach via Hilton hotels, Amazon, and a UT Austin campus studio
🔸 International expansion supported by AI-driven subtitles and localized campaigns
CEO Peter Stern Commentary
🔸 “We delivered at the high end or above on all key Q3 metrics. Our shift toward subscriptions is working, and our cost structure is leaner.”
🔸 “Tariff risk is real, but manageable. We’re well-positioned to lead in fitness and wellness.”
🔸 “Excited about FY26 plans. Strategy is centered on improving outcomes, growing lifetime value, and operating with excellence.”
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CHINA'S XI:
CHINA, RUSSIA SHOULD BE TRUE FRIENDS OF 'STEEL'
CHINA, RUSSIA SHOULD CONTINUE TO DEEPEN PRACTICAL COOPERATION IN VARIOUS FIELDS, LAY A SOLID FOUNDATION FOR COMPREHENSIVE STRATEGIC COOPERATION
WE SHOULD WORK TOGETHER IN HARMONY AND BE LEADERS IN GLOBAL GOVERNANCE
CHINA, RUSSIA SHOULD PUSH BILATERAL RELATIONS TO BE MORE MATURE AND RESILIENT
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CHINA'S XI:
CHINA, RUSSIA SHOULD BE TRUE FRIENDS OF 'STEEL'
CHINA, RUSSIA SHOULD CONTINUE TO DEEPEN PRACTICAL COOPERATION IN VARIOUS FIELDS, LAY A SOLID FOUNDATION FOR COMPREHENSIVE STRATEGIC COOPERATION
WE SHOULD WORK TOGETHER IN HARMONY AND BE LEADERS IN GLOBAL GOVERNANCE
CHINA, RUSSIA SHOULD PUSH BILATERAL RELATIONS TO BE MORE MATURE AND RESILIENT
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