Earnings Season Global: Beats, Misses and Guidance — 2026-09-13
Adobe beat third-quarter estimates with strong revenue, while TSMC reported record monthly revenue driven by AI demand. Siemens raised its annual guidance after a solid quarter, boosting its DAX performance.
Earnings Season Global: Beats, Misses and Guidance — 2026-09-13
Top developments
Adobe Q3 Revenue Tops Estimates
Adobe reported third-quarter EPS of $6.13, beating the analyst estimate of $6.07 by $0.06. Revenue for the quarter reached $6.76 billion, surpassing the consensus estimate of $6.69 billion. The company provided Q4 2026 guidance that aligned with market expectations, maintaining investor confidence in its digital media and cloud services growth.
TSMC Posts Record Monthly Revenue
TSMC reported record revenue of NT$514.8 billion for August 2026, marking a 53.3% year-over-year increase. This represents the second consecutive monthly record for the chipmaker, driven by robust demand for AI chips which continues to strain foundry capacity. The results highlight the ongoing strength in the semiconductor sector, particularly for advanced node manufacturing.
Siemens Raises Annual Guidance
Siemens increased its full-year profit guidance to €11.50 per share following strong order intake and cash flow performance. The stock rose in Xetra trading to €262.80, as both revenue and earnings per share exceeded consensus estimates. This upward revision supports the company's position within the DAX, reflecting solid industrial demand despite broader macroeconomic uncertainties.
AMD Shares Rise on AI Outlook
AMD shares climbed on September 13, 2026, following the release of strong Q2 2026 results with revenue hitting $11.54 billion. The stock reaction was fueled by a multi-billion dollar AI revenue forecast, positioning AMD as a key beneficiary of the ongoing artificial intelligence infrastructure build-out.
Local view
In Japan, GMO Financial Group (GMO-FG) revised its fiscal year 2026 operating profit forecast upward from ¥2.8 billion to ¥2.9 billion. Local financial outlet Diamond Zai highlighted this adjustment, noting that sales revenue for SME merchants contributed to the improved outlook. This reflects a trend among Japanese fintech firms adjusting to steady transaction volumes.
Context & numbers
The S&P 500 blended earnings growth rate for Q2 was tracking at 50.4% as of early August, with 86% of reporting firms beating EPS estimates. This high beat rate has supported market resilience through the recent reporting cycle. In Germany, the DAX stabilized recently due to Wall Street gains and lower oil prices, though inflation concerns remain a headwind.
On the radar
- Avery Dennison EPS Revisions: Analysts at Zacks Research lowered EPS estimates for Q3 2026 on September 8, despite the company's Q2 beat. Investors are watching for further downward revisions in the materials sector.
- ADM Guidance: ADM raised its adjusted EPS guidance range to $5.15–$5.60. Analysts have lifted average price targets to $85, maintaining a mostly "hold" consensus.
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