Earnings live updates: Intel stock soars, Procter & Gamble stock rises

Procter & Gamble (PG), known for household brands like Tide detergent, reported first quarter earnings that beat expectations, defying a slowdown in the face of increased costs from the war in Iran.

Analysts expect headwinds for P&G to build in the coming quarters, as higher oil prices stemming from the closure of the Strait of Hormuz affect everything from packaging to shipping costs. On top of that, persistent inflation could become a drag on consumer spending.

Yahoo Finance’s Brian Sozzi caught up with P&G’s CFO Andre Schulten to discuss the results.

“The consumer is relatively stable,” P&G CFO Andre Schulten told Yahoo Finance. “We see the bifurcation that we’ve been mentioning before, so you have some consumers looking for value in larger pack sizes. They shop in clubs, they shop online and at the big box retailers. And then you have some level of consumers that are looking for value in smaller pack sizes. They’re looking for smaller cash outlays and promotions. That dynamic continues.”

P&G stock rose 3% in early trading. Read more here.

In its earnings presentation, Tesla offered a slew of key updates across its manufacturing, autonomous driving, AI, and energy initiatives.

Yahoo Finance’s Myles Udland broke down the key updates:

1. Robotaxi miles ‘nearly doubled’ from the prior quarter

2. Tesla and SpaceX plan to build the largest chip plant ever

3. ‘Hey Grok’ and Pet Mode features roll out to Teslas

4. Full Self-Driving moves to subscription-only

5. Tesla’s Supercharger network grew 19% in the first quarter

Read more here.

Tesla said it’s preparing to mass-produce Optimus humanoid robots soon.

“Preparations for our first large-scale Optimus factory will begin shortly in Q2. The first generation line, designed for 1 million robots a year, will replace the Model S and Model X lines in Fremont,” the company said in its shareholders’ deck.

Tesla will use an existing Model S and Model X production line in Fremont, Calif., to manufacture 1 million first-generation robots per year. It’s also planning to use Gigafactory Texas to produce 10 million second-generation robots annually.

Investors were homing in on Tesla’s robotics updates — among other developments — as the company stands at a crossroads between its automotive business and artificial intelligence ventures.

CEO Elon Musk has previously spoken about humanoid robots in lurid terms, saying that they will reshape the global economy and “eliminate poverty.”

On the earnings call Wednesday, Musk said, “I think Optimus will be our biggest product, not just Tesla’s biggest product ever, but probably the biggest product ever.”

Listen to the earnings call live here.

Like United, higher fuel costs stemming from the war in Iran weighed on Southwest Airlines’ (LUV) second quarter outlook.

Southwest reported that jet fuel costs totaled $164 million in the first quarter, representing a $0.22 headwind to earnings per share.

Those costs aren’t expected to meaningfully come down anytime soon and are expected to weigh on the current quarter’s results. In Q2, Southwest forecast earnings per share between $0.35 and $0.65, below the Street’s average estimate of $0.73 per share, according to S&P Global Market Intelligence.

Southwest stock fell nearly 4% in extended trading as the fuel cost headwinds overshadowed expected revenue boosts from new bag fees and seat assignment fees.

Reuters reports:

IBM beat first-quarter profit estimates on Wednesday as artificial intelligence adoption boosted demand for its software services used ‌for managing large amounts of data and automating IT processes.

However, shares ‌of the company were down about 6% in extended trading.

Enterprise demand for generative AI and hybrid ​cloud, which lets companies run applications and store data across their own data centers and public clouds, is surging as businesses automate workflows.

Read more here.

Tesla stock (TSLA) climbed 3% on Wednesday after the company reported first quarter earnings that beat expectations.

Yahoo Finance’s Pras Subramanian breaks down the report:

Tesla reported first quarter earnings that topped estimates after the bell on Wednesday, with Wall Street focused on the company’s slow-to-evolve Robotaxi rollout and capital expenditures, which are expected to balloon due to the company’s AI ventures.

Tesla reported revenue of $22.39 vs. $22.08 billion per Bloomberg consensus, down 9% year over year. Tesla posted adjusted EPS of $0.41 vs. $0.35. Tesla’s gross margin also hit 21.7%, vs. 17.7% estimated.

The key to Tesla’s growth is the rollout of its Robotaxi service. Over the weekend, the company said it had expanded Robotaxi service to parts of Dallas and Houston. Tesla said Cybercab, Tesla Semi, and its megapack battery production were all on schedule.

Read more here.

Vertiv (VRT) stock fell 3% on Wednesday. The company’s Q1 results and 2026 forecast beat expectations, but its second quarter profit guidance failed to impress investors.

Vertiv makes power management and cooling systems for data centers, making it one of investors’ favorite “picks and shovels” plays for the artificial intelligence boom. Year to date, the stock is up 87%.

Vertiv reported earnings per share of $0.99 in the first quarter, compared with estimates of $0.83. Revenue of $2.64 billion was in line with expectations, according to S&P Global Market Intelligence.

The Columbus, Ohio-based company expects organic net sales growth of 29% to 31% in 2026, with net sales reaching $13.5 billion to $14 billion. On an adjusted earnings per share basis, the company expects profits of $6.30 to $6.40 this year, ahead of Wall Street estimates.

But Vertiv’s second quarter earnings guidance was on the light side, and it may explain why the stock was under pressure on Wednesday. Vertiv expects adjusted earnings per share in Q2 between $1.37 and $1.43. The Street’s midpoint estimate was $1.43.

GE Vernova (GEV) continues to see tailwinds from surging power demand for AI data centers, onshoring manufacturing, and growth in chip fabs.

The company has been dubbed the “supermarket” for the electric power industry, offering everything from natural gas turbines for generating electricity to power plant and grid modernization services.

Yahoo Finance’s Ines Ferré reports:

The company’s quarterly results beat analyst expectations, and the gas turbine maker raised its outlook for several of its metrics.

First quarter revenue jumped 16% to $9.34 billion, exceeding expectations of $9.11 billion.

GE Vernova now expects full-year revenue of $44.5 billion to $45.5 billion, up slightly from $44 billion to $45 billion. The company also increased its free cash flow forecast to $6.5 billion-$7.5 billion, up from $5 billion-$5.5 billion.

“Demand is accelerating for our Power and Electrification solutions from a diverse set of customers, with our backlog growing by more than $13 billion quarter over quarter,” GE Vernova CEO Scott Strazik said in the company’s earnings release.

Read more here.

Boeing (BA) stock climbed 3% as higher deliveries boosted the plane maker’s bottom line.

Yahoo Finance’s Pras Subramanian reports:

Boeing reported revenue of $22.2 billion vs. $21.79 billion expected according to Bloomberg consensus, up 14% year over year. The aviation giant’s adjusted (or core) loss per share came in at $0.20 vs. $0.76 expected.

Aside from the headline numbers, the metrics that matter most right now are deliveries, cash burn, and whether CEO Kelly Ortberg’s turnaround playbook is holding.

Importantly, Boeing posted negative adjusted free cash flow of $1.454 billion, smaller than the $2.61 billion expected. Operating cash flow came in at negative $179 million, a vast improvement over the negative $1.6 billion reported a year ago.

Read more here.

Yahoo Finance’s Pras Subramanian reports:

United Airlines (UAL) reported first quarter earnings after the bell that topped estimates on Tuesday, with its premium business partly blunting the effect of surging fuel costs.

Chicago-based United reported Q1 revenue of $14.6 billion vs. $14.45 billion estimated per Bloomberg consensus, up 10% from a year earlier, noteworthy as CEO Scott Kirby said last quarter that 2026 would continue the “revenue momentum” for the airline.

United posted adjusted EPS of $1.19 vs. $1.09 expected.

United reported a $340 million increase in fuel expense compared to the first quarter of 2025 due to the war.

“Moments of uncertainty for the airline industry may also create opportunity for United,” CEO Scott Kirby said in the release. “We have demonstrated quarter after quarter that we are built to withstand disruptions, and this moment is no different. We’ll stay nimble in the short term while continuing to grow the airline and invest in our customers, product and people.”

United’s focus on premium customers helped deflect some of the fuel price effect.

Read more here.

United Airlines stock was down 2% at the closing bell.

3M (MMM) delivered mixed results on Tuesday with Q1 earnings coming in above estimates and a slight revenue miss while reaffirming full-year guidance.

The industrial giant, maker of goods ranging from Post-it notes to asthma inhalers to optical technology, said it’s refocusing efforts on higher-growth areas and product innovation.

3M stock was down 2% in midday trading.

MT Newswires reports:

The company posted adjusted earnings of $2.14 per share for the March quarter, up from $1.88 a year ago and ahead of the FactSet-polled consensus of $1.98. Adjusted sales improved 3.9% to $6 billion, just shy of the Street’s view for $6.01 billion.

3M’s shares increased 2.5% in Tuesday trade, reducing its year-to-date loss to 3.1%.

The company continues to project adjusted EPS between $8.50 and $8.70 for 2026 on adjusted sales growth of about 4%. The Street is looking for non-GAAP EPS of $8.65 and sales of $25.1 billion.

“We had a good start to the year, and despite operating in a volatile environment, we remain confident in achieving our 2026 guidance while staying committed to our long-term strategy,” Chief Executive William Brown said in a statement.

Read more here.

GE Aerospace (GE) cited strong demand for air travel in its Q1 results that topped the Street’s expectations. Adjusted earnings came in at $1.86 per share, above analysts’ expected $1.60 per share, per Bloomberg data. Sales were up nearly 30% over a year ago.

The jet engine maker maintained guidance but cited geopolitical tensions and reduced carrier flights due to rising jet fuel prices as potential headwinds for growth.

GE Aerospace stock fell 6% in midday trading.

Bloomberg reports:

Despite volatility tied to the war, the world’s largest maker of jet engines maintained its guidance for 2026 and said it expects results to trend toward the higher range of earnings per share of $7.10 to $7.40. It also published new assumptions, including the oil price remaining elevated through the third quarter before decreasing by year-end.

The results highlight how the Cincinnati-based company has capitalized on strong demand for spare parts and maintenance services that airlines need to keep their planes flying. But investors remain worried about future growth since the war has sparked a surge in the price of jet fuel, prompting many carriers to trim flying capacity.

“None of us know how things are going to play out here, particularly with respect to duration in the Middle East,” Chief Executive Officer Larry Culp said on the earnings call. “I don’t think we’ve tried to tether ourselves to to one scenario or another, but we have considerable backlog.”

Read more here.

UnitedHealth Group (UNH) reported better-than-expected Q1 earnings and raised its full-year profit forecast amid turnaround efforts to combat falling profits, high medical costs, and regulatory headwinds.

The health insurer’s stock rose more than 8% on Tuesday.

Yahoo Finance’s Ines Ferré reports:

Revenue in the first quarter grew to $111.7 billion, higher than the $109.2 billion anticipated by analysts.

Earnings per share of $7.23 also beat estimates of $6.57.  The company forecast full-year adjusted earnings per share above $18.25, up from a prior forecast of $17.75. Wall Street was expecting $17.83.

UnitedHealth Group’s medical cost ratio, or the percentage of premiums spent ‌on medical ⁠care, was 83.9% for the first quarter of 2026, down 90 basis points from the first quarter of 2025. This closely watched metric, used by Wall Street as a gauge of costs, came in below expectations of 85.6%.

Read more here.

US steel producer Cleveland-Cliffs (CLF) reported a smaller loss than expected in the first quarter, but the stock edged lower in premarket trading.

Cleveland-Cliffs’ production costs are highly exposed to energy prices, as its blast furnaces consume a lot of energy. The company said extreme cold weather led to a spike in energy prices, creating an $80 million headwind on profitability.

At the same time, a supply crunch and US tariffs have helped lift steel prices, which should help offset some of the cost pressures.

“Q1 results reflected the impact of short-term headwinds like energy prices and price realization lags,” Cliffs CEO Lourenco Goncalves said. “As we move through the year, each quarter is expected to improve sequentially, as the momentum already visible in both our order book and pricing continues to translate into earnings and cash flow. Importantly, we expect to generate healthy positive free cash flow in the second quarter, marking a return to the earnings and cash-generation profile this company is capable of delivering.”

Cleveland-Cliffs reported a loss per share of $0.42, compared to Wall Street estimates for a loss of $0.44 per share. Revenue of $4.92 billion also surpassed expectations for $4.79 billion.

Shares of aluminum producer Alcoa (AA) fell nearly 8% as the war in the Middle East exerted pressure on the company’s first quarter results, released on Thursday afternoon.

“The current environment remains challenging with the Middle East conflict exacerbating margin pressure across global refineries,” Alcoa CEO William Oplinger said on the earnings call.

The Middle East is a crucial region for the supply of alumina, the compound used to make aluminum, and alumina supply chains are also heavily dependent on the Strait of Hormuz.

In a typical year, roughly 8.8 million tonnes of alumina are transported through the Strait. But since the war in Iran began in February, Alcoa said that more than 2.5 million tonnes of annual smelting capacity and nearly 2 million tonnes of refining capacity have been taken offline.

“The takeaway is clear,” Oplinger said. “Structural dependencies in the Middle East means that disruption there doesn’t stay local. It moves quickly through the aluminum value chain, tightening supply, increasing cost volatility and elevating risk well beyond the region itself.”

As a result, Alcoa’s earnings per share of $1.60 missed estimates of $1.69, despite aluminum (ALI=F) prices climbing about 20% year to date.

Fifth Third Bancorp’s (FITB) first quarter earnings missed expectations as costs from its February acquisition of Comerica Bank weighed on results.

In the first quarter, Fifth Third reported earnings per share of $0.15, below the $0.22 per share that Wall Street had expected, due to the impact of $635 million in merger-related expenses.

The merger makes Fifth Third the 9th-largest bank in the US and was intended to help the regional bank scale to better compete with PNC Financial Services Group (PNC) and Truist (TFC).

Fifth Third CEO Timothy Spence noted that the bullish outlook the regional bank expected at the beginning of the year has faded slightly.

“In an environment where we may not see the macro tailwinds that many expected at the start of the year, the Comerica merger expands Fifth Third’s organic opportunity set, and we do not need a perfect backdrop to deliver on our commitments,” Spence said.

Shares of Fifth Third rose nearly 2% in morning trading.

State Street (STT) stock rose 3%, hitting a record intraday high, on Friday after the asset manager reported an increase in profits, driven by strong fee growth.

In the first quarter, State Street generated adjusted earnings per share of $2.84 on revenue of $3.79 billion. That beat Wall Street estimates of earnings per share of $2.64 on revenue of $3.68 billion, according to S&P Global Market Intelligence.

Total fee revenue climbed 15% year over year, with a 29% increase in foreign exchange trading revenue leading fee growth.

CEO Ron O’Hanley said in the earnings release that State Street was “encouraged by our momentum” and “appropriately mindful of risks,” particularly in the current geopolitical environment.

“Reflecting that progress, we delivered record quarterly fee revenue, net interest income, and total revenue, generating meaningful year-over-year positive operating leverage and pretax margin expansion, excluding notable items,” O’Hanley said. “In a dynamic operating environment, the momentum across Investment Services, Investment Management, and Markets underscores the strength of our franchise.”

Netflix stock (NFLX) was sliding after hours. The streaming giant beat earnings and revenue estimates for the first quarter, but its second quarter guidance fell short of estimates.

The stock fell 8% in extended trading.

Netflix also announced that its co-founder Reed Hastings will leave the company’s board in June once his term expires.

Yahoo Finance’s Brooke DiPalma reports:

In Q1, Netflix reported revenue of $12.25 billion, compared with the Street’s $12.17 billion estimate, per Bloomberg consensus data. In the first quarter of last year, the company reported revenue of $10.54 billion.

Adjusted earnings per share came in at $1.23, compared to estimates of $0.76. In the same quarter a year ago, earnings were $0.66. The company issued a 10-for-1 stock split in mid-November.

Netflix’s second quarter revenue and earnings forecast missed estimates.

Q2 revenue is expected to come in at $12.57 billion, compared to the $12.64 billion Wall Street estimated. Earnings per share guidance for the second quarter was $0.78, below the $0.84 per share the Street was expecting. The company’s operating income outlook of $4.11 billion is also well below the $4.34 billion the Street anticipated.

Co-CEO Greg Peters tried to settle those fears on the call, saying, “Of course, it’s early in the year. There’s still plenty of time to go, plenty of work left to go do.”

Read more here.

Abbott Laboratories (ABT) reported its Q1 earnings on Wednesday, meeting analysts’ earnings expectations and topping revenue forecasts. The company noted solid growth in its medical device segment.

The diagnostics and pharmaceutical company issued soft Q2 guidance based on recent acquisitions and challenges in its nutrition business.

Abbott stock was down 7% in midday trading on Thursday.

Marketbeat reports:

Adjusted EPS was $1.15 and comparable sales rose 3.7%, but a much weaker respiratory season drove a ~10% decline in rapid/molecular diagnostics even as cancer diagnostics (+13%), devices (notably electrophysiology), and established pharmaceuticals show

Abbott guided Q2 adjusted EPS of $1.25–$1.31, expects FX to be roughly neutral, and anticipates acceleration in the second half of 2026 driven by nutrition execution, expanding PFA/electrophysiology launches, Core Lab recovery and integration of Exact Sciences.

Chairman and CEO Robert Ford said Abbott delivered adjusted earnings per share of $1.15, consistent with guidance, despite “a weaker than expected respiratory season.” The quarter also marked “an important strategic milestone,” he said, with the completion of the Exact Sciences deal on March 23.

Read more here.