Market Update
Wall Street Flirt with New Highs Despite Looming Tariff-Driven Inflation and Earnings Compression
Barry Adams
11 Aug, 2025
New York City
Wall Street indexes hovered near record highs as investors overlooked tariff-driven increases in costs for corporations.
The S&P 500 index increased 0.1%, and the Nasdaq Composite advanced 0.3%, as investors awaited the release of the consumer price inflation report on Tuesday and the producer price inflation report on Thursday.
July's consumer price inflation is likely to accelerate to a five-month high of 2.8%, and core inflation is to reach 3.0%. Moreover, producer price inflation is expected to accelerate, as businesses and importers pass on higher tariffs to consumers.
On the earnings front, investors are looking forward to the release of quarterly results from Applied Materials, Cisco Systems, Deere & Company, Advance Auto Parts, Brinker International, and McGraw Hill.
Friday marked the start of Trump's tariffs, and investors are increasingly worried that goods price inflation will elevate inflation, forcing the Fed to keep rates higher for longer.
Despite the repeated and forceful claims by Donald Trump about his success in striking trade deals and its positive impact on the U.S. economy, investors remain skeptical about the largest increase in import taxes in a century on American families and businesses.
Moreover, the Trump administration has struggled to finalize even one agreement, and most announced deals are "trade frameworks" with few verifiable details.
U.S. Treasury Secretary Scott Bessant agreed in an interview with MSNBC Morning Joe show that tariffs are paid by the "U.S. importers," and they could be passed on to customers.
This is the first public admission by the Trump administration official that tariffs are import taxes and ultimately hurt the American families and businesses.
The Republican Party, which touts itself as a party friendly to businesses, free trade, and low taxes, has managed to increase taxes for all Americans, kill thousands of small businesses, and shrink global free trade.
Moreover, at least 200,000 small businesses are likely to fold in 2025 following the Trump administration's erratic trade policy and sharp escalation in tariffs on goods from Mexico, China, Canada, Japan, and Brazil.
While Donald Trump is touting that high tariffs will bring more manufacturing jobs, at least 415,000 jobs are unfilled in the sector as of June, according to a report by the National Association of Manufacturers.
U.S. Stock Movers
AMD and Nvidia declined after the two companies agreed to sell part of their chip sales to the U.S. Treasury in exchange for an export license to China.
AMD and Nvidia agreed to pay a 15% export fee for the sale of MI 308 chips and H2O chips, respectively.
Advanced Micro Devices decreased 1.7% to $172.76, and Nvidia dropped 0.6% to $181.67.
Stock Movers: Datadog, Expedia, GoDaddy, Trade Desk
Scott Peters
11 Aug, 2025
New York City
Datadog fell 4% to $130.91 after the monitoring and security platform provider reported a 98% drop in quarterly profit from a year ago.
Consolidated revenue in the June quarter increased to $826.8 million from $645.3 billion, net income dropped to $2.6 million from $43.8 million, and diluted earnings per share fell to 1 cent from 12 cents a year ago.
The company guided third-quarter revenue between $847 million and $851 million, compared to $826 million; non-GAAP operating income between $176 million and $180 million; and non-GAAP earnings per share between 44 cents and 46 cents, respectively.
The company guided full-year revenue between $3.3 billion and $3.3 billion; non-GAAP operating income between $684 million and $694 million; and non-GAAP net income per share between $1.80 and $1.83 a year earlier, respectively.
Expedia Inc. jumped 4.1% to $195.26 after the online travel booking platform operator reported more than a two-and-a-half-fold jump in earnings in the second quarter.
Consolidated revenue in the June quarter inched higher to $3.7 billion from $3.6 billion, net income climbed to $322 million from $125 million, and diluted earnings per share soared to $2.48 from 96 paisa a year ago.
During the second quarter, Expedia returned a total of $627 million to shareholders through share repurchases and dividends, including the repurchase of 3.8 million shares in the second quarter and 5.6 million shares for $957 million for the first half of 2025.
For the second quarter of 2025, the company’s Board of Directors declared a cash dividend of $0.40 per share payable on September 18.
The company estimated third-quarter revenue to rise between 4% and 6%, driven by the increase in gross bookings to between 5% and 7%.
GoDaddy Inc. plunged 11.25% to $133.35 despite the domain registrar reporting a 37% increase in net income in the fiscal second quarter.
Consolidated revenue in the June quarter edged higher to $1.21 billion from $1.12 billion, net income advanced to $199.9 million from $146.3 million, and diluted earnings per share rose to $1.41 from $1.01 a year ago.
Year-to-date through August 6, GoDaddy returned approximately $906 million to shareholders through the repurchase of 5.2 million shares of common stock at an average price of $174.42 per share.
The company guided revenue in the third quarter to range between $1.22 billion and $1.24 billion. and full-year revenue to be between $4.89 billion and $4.94 billion, an increase of 7%, respectively.
Trade Desk Inc. dropped 38.6% to $54.23 despite the advertising technology company reporting a slight increase in revenue and net income in the latest quarter.
Consolidated revenue in the June quarter increased to $694 million from $585 million, net income inched higher to $90 billion from $85 billion, and diluted earnings per share rose to 18 cents from 17 cents a year ago.
During the second quarter, the company repurchased $261 million of its Class A common stock, and as of June 30, $375 million remained available under the share repurchase program.
For the third quarter, the company estimated revenue of "at least $717 million" and anticipates adjusted EBITDA of approximately $277 million.
Stock Movers: Datadog, Expedia, GoDaddy, Trade Desk
Scott Peters
11 Aug, 2025
New York City
Datadog fell 4% to $130.91 after the monitoring and security platform provider reported a 98% drop in quarterly profit from a year ago.
Consolidated revenue in the June quarter increased to $826.8 million from $645.3 billion, net income dropped to $2.6 million from $43.8 million, and diluted earnings per share fell to 1 cent from 12 cents a year ago.
The company guided third-quarter revenue between $847 million and $851 million, compared to $826 million; non-GAAP operating income between $176 million and $180 million; and non-GAAP earnings per share between 44 cents and 46 cents, respectively.
The company guided full-year revenue between $3.3 billion and $3.3 billion; non-GAAP operating income between $684 million and $694 million; and non-GAAP net income per share between $1.80 and $1.83 a year earlier, respectively.
Expedia Inc. jumped 4.1% to $195.26 after the online travel booking platform operator reported more than a two-and-a-half-fold jump in earnings in the second quarter.
Consolidated revenue in the June quarter inched higher to $3.7 billion from $3.6 billion, net income climbed to $322 million from $125 million, and diluted earnings per share soared to $2.48 from 96 paisa a year ago.
During the second quarter, Expedia returned a total of $627 million to shareholders through share repurchases and dividends, including the repurchase of 3.8 million shares in the second quarter and 5.6 million shares for $957 million for the first half of 2025.
For the second quarter of 2025, the company’s Board of Directors declared a cash dividend of $0.40 per share payable on September 18.
The company estimated third-quarter revenue to rise between 4% and 6%, driven by the increase in gross bookings to between 5% and 7%.
GoDaddy Inc. plunged 11.25% to $133.35 despite the domain registrar reporting a 37% increase in net income in the fiscal second quarter.
Consolidated revenue in the June quarter edged higher to $1.21 billion from $1.12 billion, net income advanced to $199.9 million from $146.3 million, and diluted earnings per share rose to $1.41 from $1.01 a year ago.
Year-to-date through August 6, GoDaddy returned approximately $906 million to shareholders through the repurchase of 5.2 million shares of common stock at an average price of $174.42 per share.
The company guided revenue in the third quarter to range between $1.22 billion and $1.24 billion. and full-year revenue to be between $4.89 billion and $4.94 billion, an increase of 7%, respectively.
Trade Desk Inc. dropped 38.6% to $54.23 despite the advertising technology company reporting a slight increase in revenue and net income in the latest quarter.
Consolidated revenue in the June quarter increased to $694 million from $585 million, net income inched higher to $90 billion from $85 billion, and diluted earnings per share rose to 18 cents from 17 cents a year ago.
During the second quarter, the company repurchased $261 million of its Class A common stock, and as of June 30, $375 million remained available under the share repurchase program.
For the third quarter, the company estimated revenue of "at least $717 million" and anticipates adjusted EBITDA of approximately $277 million.
Japan Monday
Akira Ito
11 Aug, 2025
Tokyo
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained
China's Deflation Trend Extends to 34th Month In July, Stocks Advanced Ahead of Tariff Deadline
Li Chen
11 Aug, 2025
Hong Kong
In a busy week of earnings, economic data, and tariff deadlines, stocks wavered around the flatline.
The Hang Seng index edged up 0.2%, and the CSI 300 index increased 0.6%, as investors reviewed the latest inflation updates.
China's consumer price inflation was flat in July following a 0.1% rise in June, the National Bureau of Statistics reported on Saturday.
The producer price inflation declined 3.6% in July, matching the rate in the previous month, marking the 34th month of deflation.
Wholesale prices continue to decline amid a lack of demand driven by the persistent malaise in the property market and weakening job market.
Investor sentiment was cautious ahead of the U.S. tariff deadline on Tuesday, and market watchers fear that the U.S. may slap an additional 25% "punitive tariff" on China for its continued import of Russian oil.
At present, the U.S. import duty averages 50% on Chinese goods and may incur additional duties of 25%.
On Friday, China's statistical agency is set to release monthly updates on retail sales, industrial output, and fixed-asset investments
This week, investors are awaiting the release of quarterly results from NetEase, JD.com, Tencent Holdings, and Galaxy Entertainment.
China Indexes and Stocks
The Hang Seng index increased 0.2% to 24,906.74, and the CSI 300 index added 0.6% to 4,128.72.
Lithium mining companies soared after CATL announced its plans to suspend mining operations at Jianxiawo mine for at least three months.
Tianqi Lithium Corp. soared 15% to HK $47.2, and Ganfeng Lithium Group added 19.7% to HK $33.66.
Ab&B Bio-Tech soared 160% to HK $33.62 after the Chinese vaccine maker priced its initial public offering at HK $12.90 per share.
The mainland-based biotech company sold 33.44 million shares and raised gross proceeds of HK $431.4 million.
China's Deflation Trend Extends to 34th Month In July, Stocks Advanced Ahead of Tariff Deadline
Li Chen
11 Aug, 2025
Hong Kong
In a busy week of earnings, economic data, and tariff deadlines, stocks wavered around the flatline.
The Hang Seng index edged up 0.2%, and the CSI 300 index increased 0.6%, as investors reviewed the latest inflation updates.
China's consumer price inflation was flat in July following a 0.1% rise in June, the National Bureau of Statistics reported on Saturday.
The producer price inflation declined 3.6% in July, matching the rate in the previous month, marking the 34th month of deflation.
Wholesale prices continue to decline amid a lack of demand driven by the persistent malaise in the property market and weakening job market.
Investor sentiment was cautious ahead of the U.S. tariff deadline on Tuesday, and market watchers fear that the U.S. may slap an additional 25% "punitive tariff" on China for its continued import of Russian oil.
At present, the U.S. import duty averages 50% on Chinese goods and may incur additional duties of 25%.
On Friday, China's statistical agency is set to release monthly updates on retail sales, industrial output, and fixed-asset investments
This week, investors are awaiting the release of quarterly results from NetEase, JD.com, Tencent Holdings, and Galaxy Entertainment.
China Indexes and Stocks
The Hang Seng index increased 0.2% to 24,906.74, and the CSI 300 index added 0.6% to 4,128.72.
Lithium mining companies soared after CATL announced its plans to suspend mining operations at Jianxiawo mine for at least three months.
Tianqi Lithium Corp. soared 15% to HK $47.2, and Ganfeng Lithium Group added 19.7% to HK $33.66.
Ab&B Bio-Tech soared 160% to HK $33.62 after the Chinese vaccine maker priced its initial public offering at HK $12.90 per share.
The mainland-based biotech company sold 33.44 million shares and raised gross proceeds of HK $431.4 million.
Wall Street Indexes Set to Scale New Highs as Investors Ignore Tariff Impacts
Barry Adams
08 Aug, 2025
New York City
Stocks on Wall Street advanced on Friday and extended weekly gains, but market sentiment remained cautious after the start of sky-high Trump tariffs.
The S&P 500 index edged up 0.3%, and the Nasdaq Composite advanced 0.4%, as investors attempted to understand the impact of high import tax on the U.S. and global economy, supply chains, and corporate investment plans.
For now, high tariffs are not showing in inflation and jobless numbers, but as import tax collection accelerates from today, businesses will begin to pass higher prices to consumers.
In addition, hundreds of thousands of small importers and retailers are likely to fold, limiting the choice to consumers.
Higher goods prices are set to fuel inflationary forces, contribute to services inflation, and lift building costs of new homes, keeping the overall inflation higher for longer.
Donald Trump campaigned on the promise of lowering prices and ending the Russia-Ukraine war on the first day; instead, consumers are facing a sharp increase in prices at retail stores.
The U.S. economy will have to adjust to the largest increase in import tax since the Great Depression, about a century ago.
Trump, with the help of the Republican Party, has unleashed the largest increase in import tax in a century on American families and businesses, as average tariffs now hover over 17% compared to less than 3% a year ago.
The import tax is likely to jump close to 25% in the months ahead, as generic drugs from India face close to 50% tariffs, goods from China incur over 52% tariffs, and the European and Japanese automobiles face between 15% and 25% duties.
U.S. Stock Movers
Under Armour Inc. dropped 15.6% to $5.60 after the specialty apparel retailer reported weaker-than-expected fiscal first-quarter results and issued a downbeat second-quarter estimate.
The retailer confirmed that escalating Trump tariffs are impacting its costs, and the demand is likely to shift downward amid a higher price environment.
The sportswear retailer reported revenue of $1.01 billion and adjusted earnings per share of 2 cents, and the company guided revenue to fall between 6% and 7% and adjusted earnings per share to range between 1 cent and 2 cents.
Pinterest Inc. dropped 12% to $34.49 after the digital content platform operator reported weaker-than-expected second-quarter earnings per share of 33 cents.
Wall Street Indexes Set to Scale New Highs as Investors Ignore Tariff Impacts
Barry Adams
08 Aug, 2025
New York City
Stocks on Wall Street advanced on Friday and extended weekly gains, but market sentiment remained cautious after the start of sky-high Trump tariffs.
The S&P 500 index edged up 0.3%, and the Nasdaq Composite advanced 0.4%, as investors attempted to understand the impact of high import tax on the U.S. and global economy, supply chains, and corporate investment plans.
For now, high tariffs are not showing in inflation and jobless numbers, but as import tax collection accelerates from today, businesses will begin to pass higher prices to consumers.
In addition, hundreds of thousands of small importers and retailers are likely to fold, limiting the choice to consumers.
Higher goods prices are set to fuel inflationary forces, contribute to services inflation, and lift building costs of new homes, keeping the overall inflation higher for longer.
Donald Trump campaigned on the promise of lowering prices and ending the Russia-Ukraine war on the first day; instead, consumers are facing a sharp increase in prices at retail stores.
The U.S. economy will have to adjust to the largest increase in import tax since the Great Depression, about a century ago.
Trump, with the help of the Republican Party, has unleashed the largest increase in import tax in a century on American families and businesses, as average tariffs now hover over 17% compared to less than 3% a year ago.
The import tax is likely to jump close to 25% in the months ahead, as generic drugs from India face close to 50% tariffs, goods from China incur over 52% tariffs, and the European and Japanese automobiles face between 15% and 25% duties.
U.S. Stock Movers
Under Armour Inc. dropped 15.6% to $5.60 after the specialty apparel retailer reported weaker-than-expected fiscal first-quarter results and issued a downbeat second-quarter estimate.
The retailer confirmed that escalating Trump tariffs are impacting its costs, and the demand is likely to shift downward amid a higher price environment.
The sportswear retailer reported revenue of $1.01 billion and adjusted earnings per share of 2 cents, and the company guided revenue to fall between 6% and 7% and adjusted earnings per share to range between 1 cent and 2 cents.
Pinterest Inc. dropped 12% to $34.49 after the digital content platform operator reported weaker-than-expected second-quarter earnings per share of 33 cents.
Japan Indexes Stretched Weekly Gains to 5%, SoftBank In Focus After Earnings Results
Akira Ito
08 Aug, 2025
Tokyo
Japan's benchmark indexes extended their weekly rise amid easing trade woes and positive earnings results from domestic corporations.
The Nikkei 225 Stock Average gained 2%, the broader Topix advanced 1.5%, and they extended their weekly rise to 4.7%.
Stocks advanced after SoftBank Group reported better-than-expected quarterly results, supported by a recovery in its tech fund.
Sony Group extended its 2-day gain over 10% after the diversified entertainment company lifted its annual operating earnings outlook by 4%.
The broader Topix index jumped to a record high and traded above 3,000 for the first time amid an improving earnings outlook.
Japan's Real Household Spending Advanced In June
Japan's household spending in real terms rose for the second consecutive month in June, the Ministry of Internal Affairs and Communications said on Friday.
The average of monthly consumption expenditures per household for June was 295,419 yen, up 5.2% in nominal terms and up 1.3% in real terms from the previous year.
Transportation and communication spending rose 8.6%, after automakers ramped up shipments following the certification scandal last year.
Food expenditures decreased 2.1% after rising in the previous three months, driven by a 12.1% fall in rice prices after the government released from the emergency supply.
The average monthly income per household with two or more people stood at 976,268 yen, up 2.0% in nominal terms but down 1.7% in real terms from the previous year.
Household spending is a key indicator of consumption, which makes up more than half of Japan's gross domestic product.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 2% to 41,908.34, and the broader Topix added 1.5% to 3,031.79.
Tokyo Electron inched up 1.5% to ¥21,330.0, as the company struggles with the accusation levied by TSMC that it leaked sensitive data to a competitor.
SoftBank Group jumped 11.9% to ¥13,935.0 after the company swung to profit in the June quarter.
Revenue in the quarter increased 7.8% to 1.8 trillion yen from 1.7 trillion yen, net income attributable to shareholders swung to a profit of 421.8 billion yen from a loss of 174.2 billion yen, and diluted earnings per share rose to 291.28 yen from a loss of 123.67 yen a year ago.
The company said it has completed cumulative stock repurchase worth 330 billion yen by the first quarter-end from the 500 billion authorized by the board of directors in August 2024.
The company confirmed the completion of a $10 billion investment in the U.S.-based OpenAI Global, of the announced total investment of $40 billion.
Japan Indexes Stretched Weekly Gains to 5%, SoftBank In Focus After Earnings Results
Akira Ito
08 Aug, 2025
Tokyo
Japan's benchmark indexes extended their weekly rise amid easing trade woes and positive earnings results from domestic corporations.
The Nikkei 225 Stock Average gained 2%, the broader Topix advanced 1.5%, and they extended their weekly rise to 4.7%.
Stocks advanced after SoftBank Group reported better-than-expected quarterly results, supported by a recovery in its tech fund.
Sony Group extended its 2-day gain over 10% after the diversified entertainment company lifted its annual operating earnings outlook by 4%.
The broader Topix index jumped to a record high and traded above 3,000 for the first time amid an improving earnings outlook.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 2% to 41,908.34, and the broader Topix added 1.5% to 3,031.79.
Tokyo Electron inched up 1.5% to ¥21,330.0, as the company struggles with the accusation levied by TSMC that it leaked sensitive data to a competitor.
SoftBank Group jumped 11.9% to ¥13,935.0 after the company swung to profit in the June quarter.
Revenue in the quarter increased 7.8% to 1.8 trillion yen from 1.7 trillion yen, net income attributable to shareholders swung to a profit of 421.8 billion yen from a loss of 174.2 billion yen, and diluted earnings per share rose to 291.28 yen from a loss of 123.67 yen a year ago.
The company said it has completed cumulative stock repurchase worth 330 billion yen by the first quarter-end from the 500 billion authorized by the board of directors in August 2024.
The company confirmed the completion of a $10 billion investment in the U.S.-based OpenAI Global, of the announced total investment of $40 billion.
China Indexes Trimmed Weekly Advances Ahead of Inflation Reports
Li Chen
08 Aug, 2025
Hong Kong
Market sentiment weakened in China and Hong Kong after a string of weak earnings dampened enthusiasm, and investors awaited the release of inflation reports this weekend.
The Hang Seng index decreased 0.7%, and the mainland-focused CSI index inched up a fraction, as investors turned cautious after disappointing earnings results weakened the outlook.
Wharf Real Estate and Semiconductor Manufacturing International Corp. reported weaker-than-expected interim results, but China Mobile's results surpassed expectations.
The National Bureau of Statistics will release two inflation reports over the weekend, predicting a declining trend in prices.
The consumer price inflation in July is likely to decrease at least 0.1% from a year ago, and the producer price index is expected to fall for the 34th consecutive month in July and fall 3.5%.
China Indexes and Stocks
The Hang Seng index decreased 0.7% to 24,916.15, and the mainland-focused CSI 300 index added 0.06% to 4,117.20.
For the week, the Hang Seng index advanced 2%, and the CSI 300 index gained 1.9%.
Wharf Real Estate Company dropped 9% to HK$23.38 after the company reported a 5% decline in profit in the first half.
China Mobile Ltd. edged up 1% to HK $86.80 after the wireless telecom company reported a 5% increase in profit in the first half.
Semiconductor Manufacturing International Corp. decreased 5.5% to HK $50.05 after the company's interim results fell short of market expectations.
China Indexes Trimmed Weekly Advances Ahead of Inflation Reports
Li Chen
08 Aug, 2025
Hong Kong
Market sentiment weakened in China and Hong Kong after a string of weak earnings dampened enthusiasm, and investors awaited the release of inflation reports this weekend.
The Hang Seng index decreased 0.7%, and the mainland-focused CSI index inched up a fraction, as investors turned cautious after disappointing earnings results weakened the outlook.
Wharf Real Estate and Semiconductor Manufacturing International Corp. reported weaker-than-expected interim results, but China Mobile's results surpassed expectations.
The National Bureau of Statistics will release two inflation reports over the weekend, predicting a declining trend in prices.
The consumer price inflation in July is likely to decrease at least 0.1% from a year ago, and the producer price index is expected to fall for the 34th consecutive month in July and fall 3.5%.
China Indexes and Stocks
The Hang Seng index decreased 0.7% to 24,916.15, and the mainland-focused CSI 300 index added 0.06% to 4,117.20.
For the week, the Hang Seng index advanced 2%, and the CSI 300 index gained 1.9%.
Wharf Real Estate Company dropped 9% to HK$23.38 after the company reported a 5% decline in profit in the first half.
China Mobile Ltd. edged up 1% to HK $86.80 after the wireless telecom company reported a 5% increase in profit in the first half.
Semiconductor Manufacturing International Corp. decreased 5.5% to HK $50.05 after the company's interim results fell short of market expectations.
Stock Movers: Uber Technologies, Shopify, DoorDash, Airbnb
Scott Peters
07 Aug, 2025
New York City
Airbnb Inc. dropped 5.6% to $122.7, and the online vacation rental company said net income advanced in the second quarter.
Consolidated revenue in the June quarter increased 13% to $3.1 billion from $2.7 billion, net income advanced 16% to $642 million from $555 million, and diluted earnings per share rose to $1.03 from 86 cents a year ago.
The company guided third-quarter revenue between $4.02 billion and $4.10 billion and adjusted earnings to increase to $2.0 billion.
The company used $1 billion of its authorization to purchase its own shares, and the company announced a new $6 billion stock repurchase plan.
Over the last twelve months ending in the second quarter, the company spent $3.7 billion to acquire its class A common stock and lowered its fully diluted shares to 652 million from 673 million a year ago.
DoorDash Inc. rose 8.5% to $280 after the food delivery company’s net income swung to a profit from a year ago in the June quarter.
Consolidated revenue in the June quarter increased to $3.3 billion from $2.6 billion, net income swung to a profit of $285 million from a loss of $157 million, and diluted income per share swung to a profit of 65 cents from a loss of 38 cents a year ago.
For the six-month period, revenue advanced to $6.3 billion from $5.1 billion, net income swung to a profit of $478 million from a loss of $180 million, and diluted income per share swung to a profit of $1.09 from a loss of 44 cents a year ago.
During the six-month period, the company returned $7 million to stockholders in the form of share repurchases.
The company guided adjusted EBITDA in the next quarter to range between $680 million and $780 million and Marketplace GOV to range between $24.2 billion and $24.7 billion a quarter earlier.
During the second quarter the company acquired Deliveroo plc for about $3.9 billion.
“We continue to expect our proposed acquisition of Deliveroo plc to close during Q4 2025.” The company noted.
Shopify Inc. declined 0.2% to $154.7 despite the Canada-based e-commerce company reporting more than a five-fold jump in earnings in the second quarter.
Consolidated revenue in the June quarter increased to $2.6 billion from $2.0 billion, net income jumped to $906 million from $171 million, and diluted earnings per share rose to 70 cents from 13 cents a year ago.
For the six-month period, revenue advanced to $5.0 billion from $3.9 billion, net income swung to a profit of $224 million from a loss of $102 million, and diluted earnings per share rose to an income of 17 cents from a loss of 8 cents a year ago.
Management has reiterated that cash dividends are not expected to be distributed for the foreseeable future.
Shopify guided third-quarter revenue to grow at a mid-twenties percentage rate a year ago.
Uber Technologies Inc. fell 0.2% to $89.01, and the ride-hailing and delivery services provider reported a muted increase in sales and earnings in the latest quarter.
Revenue increased to $12.6 billion from $10.7 billion, net income jumped to $1.4 billion from $1.0 billion, and diluted earnings per share rose to $0.63 from $0.47 a year ago.
For the six-month period, revenue edged higher to $24.2 billion from $20.8 billion, net income soared to $3.1 billion from $361 million, and diluted earnings per share advanced to $1.47 from 15 cents a year ago.
The company's board authorized a new share repurchase program for an additional $20 billion.
During the second quarter, the company returned $1.3 billion to shareholders through its stock repurchase program.
Looking ahead to the third quarter of 2025, the company projected "robust year-over-year growth, driven by strong underlying demand and recent strategic acquisitions."
Gross bookings are expected to range between $48.25 billion and $49.75 billion, reflecting a 17% to 21% increase year-over-year on a constant currency basis.
This outlook factors in a neutral to modestly positive foreign exchange impact on total reported growth.
Adjusted EBITDA is projected to fall between $2.19 billion and $2.29 billion, representing a 30% to 36% increase compared to the same period last year.