The fourth quarter earnings season is more than halfway over, and the S&P 500 is on track for solid earnings growth.

As of Feb. 6, 59% of S&P 500 (^GSPC) companies have reported fourth quarter results, according to FactSet data, and Wall Street analysts estimate a 13% increase in earnings per share for the fourth quarter. If that rate holds, it would represent the 10th consecutive quarter of annual earnings growth for the index and the fifth consecutive quarter of double-digit growth.

Heading into the reporting period, analysts were expecting an 8.3% jump in earnings per share, down from the third quarter's 13.6% earnings growth rate. Wall Street has raised its earnings expectations in recent months, especially for tech companies, which have driven earnings growth in recent quarters.

Massive Big Tech capital expenditures set the tone for the AI trade. Plus, the themes that drove the markets in 2025 — artificial intelligence, the Trump administration's tariff and economic policies, and a K-shaped consumer economy — continue to provide plenty for investors to parse.

This week, investors will digest results from Coca-Cola (KO), Spotify (SPOT), Robinhood (HOOD), Lyft (LYFT), Ford (F), Rivian (RIVN), Moderna (MRNA), Airbnb (ABNB), and Coinbase (COIN).

Mattel (MAT) reported top- and bottom-line misses on Tuesday, sending shares 24% lower in extended trading.

In the fourth quarter, the toymaker reported earnings per share of $0.34 on revenue of $1.76 billion. Wall Street analysts were looking for earnings of $0.51 on revenue of $1.83 billion, according to S&P Global Market Intelligence.

The stock also sharply reacted to Mattel's 2026 forward guidance, which disappointed.

In 2026, Mattel expects net sales to grow between 3% and 6%. Adjusted earnings per share are expected to be in the range of $1.18 to $1.30, below 2025's earnings per share of $1.41 and the Street's forecast of $1.68 per share.

\\"We achieved strong topline growth in the fourth quarter and consumer demand was positive in every region for both the quarter and full year, but December gross billings in the U.S. ended up growing less than expected,\\" CEO Ynon Kreiz said in a statement.

Lyft (LYFT) stock pulled back by more than 15% in after-hours trading after its first quarter outlook and 2025 operating loss dented expectations of the company's comeback story.

In the fourth quarter, Lyft reported revenue of $1.6 billion, missing expectations of $1.75 billion, according to S&P Global Market Intelligence. Gross bookings of $5.1 billion were up 19% year over year.

For the full year, Lyft reported an operating loss of $188 million, whereas analysts expected a profit of $33.3 million.

For the first quarter of 2026, Lyft guided for adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $120 million to $140 million. The Street consensus estimate was $147 million for EBITDA.

Read more here.

Yahoo Finance's Pras Subramanian reports:

Ford (F) reported fourth quarter results Tuesday after the bell that missed expectations, with charges stemming from its EV business resulting in a net loss for the quarter and the year.

Ford reported Q4 automotive revenue of $42.40 billion vs. $42.40 billion expected, per Bloomberg consensus, with adjusted earnings per share (EPS) of $0.13 vs. $0.19 expected, on adjusted EBIT of $1 billion vs. $1.16 billion.

But Ford posted a fourth quarter and full-year net loss of $11.1 billion and $8.2 billion, respectively, which reflected the impact of special items, the company said. Ford's full-year adjusted EBIT of $6.8 billion came in near its forecast of around $7 billion but missed estimates of $8.86 billion. Adjusted free cash flow came in at $3.5 billion for the year, at the midpoint of Ford's projection.

Read more here.

Robinhood (HOOD) reported better-than-expected earnings for the fourth quarter, but missed estimates on several other metrics, sending shares as much as 9% lower in after-hours trading. Retail trading buoyed the company during the quarter, offsetting weakness in crypto revenue.

In Q4, the brokerage and banking platform reported revenue growth of 27% year over year to $1.28 billion, compared to estimates of $1.3 billion, according to S&P Global Market Intelligence. Diluted earnings per share came in at $0.66, compared to estimates of $0.64 and $1.01 in Q4 2024.

Robinhood CEO Vlad Tenev reiterated his ambition to make Robinhood into a \\"Financial SuperApp.\\" The company has rolled out banking services, stock tokens, crypto trading, and even event contracts.

Yahoo Finance's Ines Ferré reports:

Crypto revenue for the fourth quarter came in at $221 million, below estimates of $248.2 million. Options revenue also came in short of expectations, at $314 million versus estimates for $331 million.

\\"A top-line miss is not helpful at all,\\" Christian Bolou, an analyst at Autonomous Research, told Yahoo Finance.

\\"Net deposit growth decelerated in the fourth quarter and looks like it decelerated in January,\\" he added. \\"The stock reaction might be warranted here given high expectations and a very expensive stock.\\"

Read more here.

Marriott (MAR) CEO Anthony Capuano said that, like other travel companies, the hotel chain is seeing a divergence across its customer base and strength primarily in the premium segment.

\\"I mean, there is certainly ... a K-shaped economic bifurcation of the consumer,\\" Capuano said Tuesday. \\"We continue to see really consistent strength across luxury for the full year.\\"

\\"We continue to see extraordinary demand for travel and experiences,\\" Marriott International CEO Anthony Capuano says on Q4 earnings. \\"It feels like a fundamentally permanent shift, that consumers are prioritizing spending on travel and experiences versus purchase of hard goods.\\" pic.twitter.com/24xTRn9Tfm

— Yahoo Finance (@YahooFinance) February 10, 2026

Yahoo Finance's Brian Sozzi reports:

Marriott's fourth quarter performance and outlook added some concern, however, that a mixed US economy was continuing to weigh on consumers.

The purveyor of the Ritz-Carlton and JW Marriott brands reported adjusted earnings of $2.58 per share. Wall Street was expecting $2.62 per share.

Revenue per available room (RevPar), a metric of industry health that combines occupancy rates and room prices, increased 2% in 2025. In the US and Canada, RevPar fell slightly in the fourth quarter.

Read more here.

Yahoo Finance's Pras Subramanian reports:

Ferrari (RACE) stock popped in early trade after upbeat guidance suggested its luxury supercars are still in high demand.

For 2026, Ferrari projects revenue of about 7.5 billion euros ($8.91 billion), up 5% from a year ago, with adjusted EBITDA expected at 2.93 billion euros ($3.48 billion), up 5.8%. Analysts were expecting revenue of 7.53 billion euros and adjusted EBITDA of 2.91 billion euros, per Bloomberg consensus.

Ferrari expects its industry-leading EBITDA margin to hit 39%, up 20 basis points from last year. Ferrari said an improved product mix, including higher-end cars, personalizations, and higher racing revenues, will boost results in 2026.

Ferrari stock surged nearly 10% in early trade in New York.

Read more here.

Shares in S&P Global (SPGI) began to dig out of a deep post-earnings slump on Tuesday, reversing a roughly 20% loss as executives spoke with analysts and investors on the company's fourth quarter earnings call.

The company's shares initially plummeted on Tuesday morning after S&P Global reported 2026 profit expectations below analyst estimates, forecasting adjusted per-share profit of $19.40 to $19.65, against estimates of $19.94.

S&P Global also reported adjusted earnings per share at $4.30, missing analyst estimates of $4.34 per share. Top-line revenue for the quarter came in at $3.916 billion, above estimates of $3.91 billion.

Despite the reversal of losses on Tuesday morning, shares in S&P Global remain down by more than 20% on the year. The company has been caught in the software sector sell-off that racked the market through the first week of February.

Datadog (DDOG) fourth quarter earnings beat Wall Street estimates on Tuesday, backed by rising demand for cloud security amid the artificial intelligence boom. The stock surged nearly 15% ahead of the opening bell.

Here's what the company reported, compared to estimates compiled by LSEG:

Q4 revenue: $953.2 ⁠million (29% growth from a year ago), compared with ​estimates of $916.6 million

Q4 adjusted profit: $0.59, compared with estimates of $0.55

Q1 revenue forecast: $951 million ⁠and $961 million, compared with estimates of $935.4 million

Full-year revenue forecast: $4.06 billion and $4.10 billion, compared with estimates of $4.11 billion

Full-year adjusted profit forecast: $2.08 to $2.16 per share, compared with estimates of $2.37

Reuters reports:

The rise of generative AI has driven ‌greater data volume and complexity in corporate IT systems, increasing demand for application and infrastructure monitoring tools offered by firms such as Datadog.

\\"During 2025, we delivered over 400 new features and capabilities ⁠to help our customers ‌as they migrate to the cloud and begin to deploy to production with next-gen AI,\\" CEO Olivier ‍Pomel said.

New York City-headquartered Datadog provides a cloud-based monitoring and analytics platform that can help companies see how their software and servers are performing ​in one place.

Read more here.

Coca-Cola (KO) barely beat earnings estimates as it continues to see strong demand from high-income consumers but weakness among low-income households.

Coke reported quarterly revenue of $11.82 billion, versus estimates of $12.04 billion, according to S&P Global Market Intelligence. Net income increased to $2.3 billion, or $0.58 per share. Wall Street's expectations for earnings per share were a penny lower, at $0.57 per share.

The stock fell 4% in premarket trading.

AP reports:

Global unit case volumes grew 1% for the October-December period, led by the U.S., Japan and Brazil, the Atlanta beverage giant said Tuesday. Unit case volumes also rose by 1% in North America, reversing several quarters of flat or declining sales.

Coke said it hiked prices 4% in North America and 1% globally during the quarter. Coca-Cola Zero Sugar was a strong performer, with sales up 13% for the October-December period. Water, sports drinks, coffee and tea also saw stronger demand, while juices and dairy products faltered.

The company said last fall that it's seeing a divergence among consumers in North America and Europe, with higher-income buyers opting for its more expensive brands like Smartwater, Topo Chico and Fairlife while middle- and lower-income consumers are under more pressure.

Read more here.

Spotify (SPOT) reported solid earnings and revenue that beat expectations for the fourth quarter, following price hikes from the streaming company and a change in role for founder Daniel Ek.

The stock jumped about 10% in premarket trading.

Earnings per share of 4.43 euros ($5.27) came in above estimates of 2.78 euros ($3.31). Revenue of 4.53 billion euros ($5.35 billion) was also slightly above estimates of 4.51 billion euros, according to S&P Global Market Intelligence.

Premium subscribers ​climbed 10% to 290 million in the fourth quarter.

Reuters reports:

The ‌results are the first since co-CEOs Gustav Soderstrom and Alex Norstrom took the reins from founder Daniel Ek, ‌who became executive chairman in January.

Its quarterly revenue forecast of ​4.5 billion euros was slightly below the estimate of 4.57 billion euros. Fourth-quarter revenue ‌rose 7% to 4.53 billion euros, in line with estimates.

Spotify raised the price of its monthly premium subscription plan by $1 to $12.99 in the U.S., Estonia and Latvia markets this year, following a similar move in more than 150 markets in 2025.

Read more here.

Reuters reports:

CVS Health reported a decline in fourth-quarter profit on Tuesday but beat Wall Street estimates, helped by strength in its pharmacy benefit unit and strong prescription ​volume at its retail pharmacies.

CVS said adjusted quarterly profit fell to $1.09 per share from $1.19, ‌above analysts' average estimate of 99 cents per share, according to data compiled by LSEG.

\\"I talk about a Say-Do ratio,\\" said ‌Chief Financial Officer Brian Newman. \\"Where we put out realistic targets and we try to deliver or exceed on expectations.\\"

Newman said the pharmacy business' profit had been declining annually about 5% for the past five years, but grew 5% in 2025, helped by its purchase of some assets of pharmacy Rite Aid, which filed ⁠for bankruptcy.

For 2026, the healthcare conglomerate ‌maintained a full-year adjusted profit forecast between $7.00 and $7.20 per share, unchanged from the previous quarter. Analysts expect the company to book $7.17 per share, according to LSEG data.

Read more here.

British energy giant BP (BP) reported a $3.4 billion loss in the fourth quarter and announced it will suspend stock buybacks to improve its financial situation.

The stock fell nearly 4% in premarket trading on Tuesday morning.

Bloomberg reports:

BP Plc is halting share buybacks to shore up its balance sheet as pressure mounts on the UK energy giant to deliver on its turnaround.

The company slashed a $750 million quarterly stock repurchases program that had already been reduced last year, according to an earnings report on Tuesday. BP also withdrew its guidance of returning 30% to 40% of operating cash flow to shareholders, while aiming for 2026 spending at the low end of its previous forecast.

The fourth quarter capped a tumultuous year for BP that started with activist investor Elliott Investment Management pushing for drastic change and ended with Chairman Albert Manifold ousting Murray Auchincloss from the helm. The moves to prioritize balance-sheet repair over investor payouts are an effort to make difficult, prudent decisions and clear the decks for Meg O’Neill, the incoming chief executive officer who will take over in April, analysts said.

Read more here.

Chegg's (CHGG) fourth quarter results were better than expected, but earnings and revenue declined from a year ago as the student platform navigates disruption from artificial intelligence.

Chegg reported an adjusted loss of $0.01, which was narrower than the $0.10 loss Wall Street was expecting, according to S&P Global Market Intelligence. The company reported earnings of $0.17 per share in the same quarter a year ago.

Chegg's $72.66 million in sales also beat the Street's estimate of $71 million. The first quarter revenue outlook, however, fell short. Chegg said it expects revenue between $60 million and $62 million, whereas the Street was looking for $64 million in revenue.

Last October, Chegg announced mass layoffs and an aggressive pivot to reskilling as the company looks to withstand greater competition from OpenAI's (OPAI.PVT) Alphabet (GOOG, GOOGL). The two companies have rolled out new study tools for their AI chatbots, ChatGPT and Gemini, and Chegg has also sued Google over its AI-generated search summaries, which have hurt traffic.

“We are reinventing Chegg around the $40 billion skilling market, which we believe can drive double-digit growth with strong margins and cash flow in the years to come,” Chegg CEO Dan Rosensweig said in the Q4 earnings release. “We’ve organized the company into two focused businesses: Chegg Skilling as our growth engine and our legacy Academic Services, which generates free cash flow that strengthens our balance sheet and positions us to end 2026 debt-free with a substantial cash balance.”

Chegg stock fell 5% in extended trading. Listen to the earnings call live here.

On Semiconductor (ON) stock skidded in after-hours trading on Monday, falling by 7%, after the company recorded lower profits in the fourth quarter than a year ago but said it's seeing \\"signs of stabilization\\" in its key markets.

The chipmaker reported earnings per share of $0.45 on revenue of $1.53 billion, missing earnings estimates of $0.59 per share and falling below earnings per share of $0.88 in the same period a year ago, according to S&P Global Market Intelligence. The company's fourth quarter revenue was in line with estimates.

The company saw annual sales declines across all of its business groups: Power Solutions, Analog & Mixed Signal, and Intelligent Sensing. Intelligent Sensing was the only segment that saw sales grow quarter over quarter, while Power Solutions and Analog & Mixed Signal sales fell 2% and 5%, respectively.

For the first quarter, On Semiconductor expects revenue in the range of $1.43 billion to $1.53 billion, which has a midpoint below the consensus estimate of $1.5 billion. Adjusted diluted earnings per share are expected to be between $0.56 and $0.66; Wall Street expects $0.61.

Kyndryl stock plummeted 42% in premarket trading after the IT infrastructure services provider said it would delay filing its 10-Q report with the Securities and Exchange Commission and announced a change in leadership in the CFO position.

Reuters reports:

Software provider Kyndryl on Monday delayed the filing of its ​quarterly report, saying it anticipates material ‌weaknesses in its internal control over financial reporting for ‌multiple periods, including the first two quarters of fiscal 2026.

Separately, the company also announced ⁠the departure of ‌its finance chief David Wyshner and the stepping down of Vineet ‍Khurana as global controller, effective immediately. A corporate controller is typically the chief accountant of a company.

Kyndryl ​appointed Harsh Chugh as its interim ‌CFO and Bhavna Doegar as interim corporate controller.

Kyndryl ​said it would miss the ​deadline to file its quarterly report after its audit committee began reviewing ‍cash management ⁠practices, related disclosures and internal controls following voluntary document requests from the U.S. ⁠Securities and Exchange Commission's enforcement division.

Read more here.

Monday.com shares tanked 14% after the software maker beat earnings estimates but posted guidance that disappointed Wall Street.

In the fourth quarter, Monday.com reported adjusted earnings per share of $1.04, beating estimates of $0.92. Revenue grew 25% year over year to $333.9 million, also beating expectations of $329.6 million, according to S&P Global Market Intelligence consensus estimates.

However, the company's first quarter revenue guidance of $338 million to $340 million came in below expectations of $342 million. Operating income is expected in a range of $37 million to $39 million, compared to the $45 million the Street was expecting.

The stock faced significant losses recently as part of a sell-off in software stocks, as investors questioned whether the disruption from artificial intelligence could take a bigger bite out of these companies' profits than previously expected. Year to date, Monday.com stock is down 33%.

Cleveland-Cliffs (CLF) stock fell more than 3% after fourth quarter revenue missed expectations.

The steel producer recorded a net loss per share of $0.44, which was narrower than the $0.60 loss Wall Street was expecting, according to S&P Global Market Intelligence. Revenue of $4.3 billion fell short of estimates of $4.5 billion.

Cleveland-Cliffs CEO Lourenco Goncalves cited weakness in the auto sector, a \\"value-destructive\\" slab contract, and a negative situation in the Canadian market as reasons for the revenue miss.

“Our performance in 2025 was negatively affected by persistently weak production levels from the automotive sector throughout the entire year, an expiring five-year slab contract becoming value-destructive during its last year, and a newly adverse dynamic in the Canadian market,\\" Goncalves said in a statement. \\"Fortunately, as we started 2026, these negative situations have all improved.\\"

In the fourth quarter, Cleveland-Cliffs had 3.77 million net tons in steel shipments, compared to 3.8 million tons in the same period a year earlier. For 2026, Cleveland-Cliffs expects to ship 16.5 million to 17 million tons of steel.

With over half of S&P 500 companies having reported so far, BlackRock chief investment and portfolio strategist of the Americas, Gargi Chaudhuri, shared some themes that have emerged so far this earnings season.

The three things Chaudhuri has been focused on:

Earnings beats are broadening out to sectors other than AI and tech names — a \\"healthy\\" sign in markets

Investors have been paying attention to commentary on layoffs and hiring on the earnings calls. As concerns about the labor market grow, especially after a bad batch of data this week, markets are watching for signs of broad-based firing across the economy and signs that AI may be impacting jobs.

The effects of tariffs, a major theme in Q2 and Q3 2025, are increasingly becoming a thing of the past.

Watch the interview below:

Yahoo Finance's Francisco Velasquez reports:

Roblox (RBLX) is hitting a growth spurt, and the company is looking to take its game into the adult world.

\\"We've found that our age-checked 18-and-up segment is growing at over 50% year on year, which is a real great signal for future growth,\\" Roblox CEO David Baszucki told Yahoo Finance's Opening Bid.

For years, Roblox has been the digital playground where kids spent weekends — and their parents' money. But the company's latest earnings report suggests that a demographic shift is underway.

The platform beat analyst estimates across the board, with Q4 bookings hitting $2.2 billion, a 55% year-over-year increase. For the full year, the company is projecting sales growth between 23% and 29%, a signal that its controversial age-verification strategy might actually be working.

Read more here.

Philip Morris (PM) stock dropped 2% in premarket trading on Friday after the tobacco company reported a weaker-than-expected full-year profit forecast.

For the full year, Philip Morris expects earnings per share of $7.87 to $8.02 in 2026, a miss compared to the $8.08 midpoint the Street was looking for.

For the fourth quarter, here's how the company performed against consensus estimates compiled by S&P Global:

Adjusted earnings per share: $1.70, in line with estimates of $1.70

Revenue: $10.4 billion, slightly ahead of estimates of $10.39 billion

Philip Morris' smoke-free business, which makes up 41% of its revenues and includes products like Zyn nicotine pouches, continued to drive growth. In the fourth quarter, smoke-free shipment volumes increased 8.5%, while cigarette volumes declined 2.2%.

Listen to the earnings call here.

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