Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Microsoft Fiscal 2026 Q2 Earnings Call - AI Cloud Scale Hits $50B, CapEx and OpenAI Concentration Raise Timing and ROI Questions
Microsoft reported a strong quarter: revenue $81.3 billion, EPS $4.14, and the Microsoft Cloud crossed $50 billion in quarterly revenue as AI-driven demand accelerated. Satya Nadella framed the quarte...
- Revenue $81.3 billion, up 17% year-over-year; adjusted EPS $4.14, up 24% YoY.
- Microsoft Cloud surpassed $50 billion in revenue for the first time, $51.5 billion this quarter, up 26% YoY (24% constant currency).
- Microsoft Cloud gross margin was about 67% this quarter, down year-over-year due to AI investments; company gross margin 68%.
- +14 more takeaways
ServiceNow Q4 and Full Year 2025 Earnings Call - AI-native workflows drive stronger-than-expected growth, guide to ~20% subscription revenue growth
ServiceNow closed 2025 on a strong note, reporting Q4 subscription revenue of $3.466 billion and beating top-line and margin guidance. The company says AI-native products, led by Now Assist and AI Con...
- Q4 subscription revenue was $3.466 billion, up 19.5% year over year in constant currency, beating the high end of guidance by about 150 basis points.
- Remaining performance obligations ended at approximately $28.2 billion, up 22.5% year over year in constant currency; current RPO was $12.85 billion, up 21% year over year in constant currency.
- Reported CRPO growth was 25% (21% in constant currency), coming in roughly 2 points above management guidance and including about 1 point from Moveworks.
- +17 more takeaways
IBM Fourth Quarter 2025 Earnings Call - Software-led retooling and z17-fueled GenAI drive record free cash flow
IBM closed 2025 with momentum: revenue growth accelerated to 6% for the year and 9% in Q4, driven by a software pivot, a blockbuster z17 mainframe cycle, and rapid enterprise GenAI adoption. The compa...
- IBM delivered 2025 revenue growth of 6% for the year, and 9% revenue growth in Q4, its strongest quarterly growth in over three years.
- Free cash flow reached $14.7 billion in 2025, up 16% year-over-year, the highest free cash flow margin in IBM’s reported history.
- Software now represents roughly 45% of IBM’s business, up from about 25% in 2018, and software grew 9% for the year with Q4 software growth accelerating to 11%.
- +12 more takeaways
Lam Research December 2025 Earnings Call - AI Ramp Boosts WFE Demand but Clean-room Constraints Cap Near-term Growth
Lam closed 2025 with record revenue and margins, reporting December-quarter revenue of $5.34 billion and full-year revenue of $20.6 billion as AI-driven demand accelerated investments across foundry, ...
- December quarter revenue $5.34B; record full-year 2025 revenue $20.6B, up 27% year-on-year.
- Full-year gross margin 49.9%, December quarter gross margin 49.7% and operating margin 34.3%, all above guidance ranges.
- Management expects 2026 WFE around $135B, with the year weighted to the second half due to fab/clean-room readiness constraints.
- +13 more takeaways
Levi Strauss & Company Q4 2025 Earnings Call - DTC-first, head-to-toe denim lifestyle fuels growth while tariffs pressure near-term margins
Levi closed fiscal 2025 on a strong note: organic net revenue up 7% for the year and broad-based strength across channels, led by a DTC transformation that now represents roughly half the business. Th...
- Levi delivered 7% organic net revenue growth for fiscal 2025 and Q4 revenue grew 5% year-over-year on an organic basis.
- Levi’s brand grew 7% for the year and now holds more market share globally in denim than the next two competitors combined, with share gains in men’s, women’s and U.S. youth (18-30).
- The shift to a DTC-first model is central: DTC grew 11% for the year, comprised about half the business, and Q4 DTC grew 10% with the 15th consecutive quarter of positive comps.
- +13 more takeaways
LendingClub Q4 2025 Earnings Call - Originations Surge and Fair Value Shift to Accelerate Profitability
LendingClub closed 2025 with a strong finish: Q4 originations rose 40% year over year to $2.6 billion and full-year originations reached nearly $10 billion, while ROTCE jumped to 11.9%. Management fra...
- Q4 originations grew 40% year over year to $2.6 billion; full-year 2025 originations nearly $10 billion, up 33% year over year.
- Q4 ROTCE nearly tripled to 11.9%, above the high end of prior guidance; full-year ROTCE was 10.2%.
- LendingClub is moving all new held-for-investment originations to the fair value option, eliminating the day one CECL provision on new loans and aligning revenue recognition across marketplace and bank businesses.
- +12 more takeaways
Deluxe Q4 and Full Year 2025 Earnings Call - Payments and Data Reach 47% of Revenue; Parity with Print Expected in 2026
Deluxe closed 2025 with clear momentum: payments and data now account for 47% of revenue, data revenue grew roughly 31% year over year, and adjusted EBITDA expanded 6.2% to $431.5 million. Management ...
- Payments and data now represent 47% of revenue, up ~400 basis points year over year, and management expects parity with print later in 2026.
- Data segment was the standout, growing 31.3% in 2025 to $307.3 million in revenue, with Adjusted EBITDA up ~43% to $86.4 million and margins returning to a low- to mid-20s profile.
- Company-wide comparable adjusted EBITDA rose 6.2% to $431.5 million, with adjusted EBITDA margin expanding 90 basis points to 20.2%.
- +10 more takeaways
Houlihan Lokey Third Quarter Fiscal 2026 Earnings Call - M&A Momentum Drives Corporate Finance, Restructuring Likely to Moderate
Houlihan Lokey reported a strong third quarter with revenues of $717 million and adjusted EPS of $1.94, up 13% and 18% year over year respectively. Corporate Finance led the charge, generating $474 mi...
- Q3 revenue $717 million, adjusted EPS $1.94, up 13% and 18% year over year respectively.
- Corporate Finance revenue $474 million, up 12% YoY; closed 177 transactions versus 170 a year ago and average fees increased.
- Financial Restructuring revenue $156 million, up 19% YoY, helped by several deals accelerating into Q3 and reversing typical seasonality.
- +11 more takeaways
Century Communities Q4 2025 Earnings Call - Record Q4 Orders Signal Demand, But Elevated Incentives Press Margins
Century closed 2025 with a mix of operational wins and market caution. Deliveries and net orders hit company records, cycle times and direct costs improved, and cash flow supported aggressive land inv...
- Full-year 2025 residential deliveries were 10,792 units, including 3,030 new homes delivered in Q4 and total Q4 residential deliveries of 3,435 units when adding rental and multifamily totals.
- Q4 net new contracts set a company record at 2,702 homes, up 10% year-over-year and 13% sequentially, reversing the normal seasonal decline.
- Century reduced average direct construction costs on starts by about $13,000 per home in 2025 and reported a 4% sequential decline in direct construction costs on Q4 deliveries.
- +15 more takeaways
SEI Q4 2025 Earnings Call - Record Q4 EPS as private banking and IMS sales momentum accelerates, Stratos closes
SEI closed 2025 with its strongest quarter on record, reporting Q4 EPS of $1.38 and broad-based revenue and margin expansion across nearly every business line. Results were driven by one of the compan...
- Q4 EPS was a record $1.38, with GAAP EPS up 16% year over year and 6% sequentially.
- Reported results included roughly $0.08 of net noisy items, including $20 million of elevated corporate overhead tied to severance and M&A fees, a $3 million purchased energy tax benefit, and a $3 million IMS revenue accrual true-up.
- Q4 sales events totaled $44 million, one of SEI’s highest quarterly levels ever, capping the company’s strongest year for sales events.
- +12 more takeaways