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).

Cisco (CSCO) stock fell 5% after the networking company issued guidance below Wall Street forecasts.

For the full year, Cisco guided for earnings per share of $3.00 to $3.08 on revenue of $61.2 billion to $61.7 billion. The Street was looking for earnings of $3.12 on revenue of $62.1 billion.

In Cisco's second quarter, the company reported earnings per share of $0.80, compared to Wall Street analyst estimates of $0.74 per share, according to S&P Global Market Intelligence. Revenue rose 10% year over year to $15.3 billion, compared to estimates of $15.1 billion.

\\"We see strong, broad-based demand for our technology solutions and remain focused on capturing the significant opportunities we see ahead,\\" Cisco CFO Mark Patterson said.

Reuters reports:

A surge in data center investments, fueled by technology companies' need ‌for AI ⁠computing infrastructure, has driven strong demand for Cisco's core ⁠networking products, such as switches and routers.

Enterprises are expected to ensure ​their campus ​networks are \\"AI ​ready\\" as infrastructure ‌readiness will be crucial for AI-era workloads and modernization needs across switching, wireless and IoT systems.

Read more here.

Yahoo Finance's Brooke DiPalma reports:

McDonald's (MCD) reported fourth quarter results on Wednesday that surpassed Wall Street expectations as its value meal focus and marketing efforts brought more customers in the door as US sales grew for the third-straight quarter.

McDonald's said Wednesday that its US same-store sales grew 6.8% during the quarter, far more than the 5.1% rise the Street expected, according to data from Bloomberg. Its full-year US same-store sales rose 2.1%, also higher than the 1.6% expected.

McDonald's stock rose 2% following the results.

While the US drove growth in the quarter, its international markets also benefited from marketing promotions. Global same-store sales rose 5.7% for the fourth quarter, higher than the estimated 3.8% jump. For the full year, international sales rose 3.1%, more than the 2.6% estimated.

Read the full story here.

Reuters reports:

Shares of videogame engine maker Unity Software dropped nearly ‌30% on Wednesday after the company ‌forecast first-quarter revenue below Wall Street expectations, signaling ​sluggish demand for its software.

Unity expects revenue between $480 million and $490 million for the first quarter, below analysts' estimates of $492.1 million, ‌according to data ⁠compiled by LSEG.

The firm's shares have taken a beating this ⁠year largely due to fears that new artificial intelligence technology from Alphabet's Google, ​capable of ​generating interactive worlds, ​could replace a ‌lot of work done by game engines in the future.

This is in sharp contrast to its stock performance last year, when share prices nearly doubled as ‌investors bet on Unity's ​strong positioning in the ​videogame software market ​and a recovery in mobile ‌gaming.

Read more here.

Reuters reports:

T-Mobile (TMUS) added fewer wireless subscribers in the fourth quarter than analysts had expected, as rivals ‌extended aggressive deals and offers to lure customers.

Shares of the ‌company fell about 4% in premarket trading on Wednesday.

T-Mobile still ​added 962,000 ​monthly-bill-paying phone customers in the quarter, ​the highest among the big ‌three U.S. wireless carriers. But the number fell short of the 981,330 additions expected by analysts polled by FactSet.

The churn rate, the percentage of customers who discontinue service, stood at 1.02% for T-Mobile's postpaid services, compared with 0.92% a year earlier.

Total revenue came in at $24.33 billion, compared with ‌estimates of $24.11 billion, according to data compiled ​by LSEG.

This was helped by more customers ​opting for T-Mobile's premium ​plans that bundled subscriptions for Netflix and Hulu.

Read more here.

Kraft Heinz (KHC) announced on Tuesday that it would pause its spin-off plans, with the company's new CEO, Steve Cahillane, saying that its \\"challenges are fixable and within our control.\\"

The company, which was set to spin off its meal business, Global Taste Elevation Co., and grocery business North American Grocery Co., plans to invest $600 million across marketing, sales, research and development, and pricing.

\\"We are confident in the opportunity ahead and believe this investment will accelerate our return to profitable growth,\\" said Steve Cahillane, who became CEO on Jan. 1 and previously led Kellanova, which successfully split from the Kellogg Company in 2023.

Shares fell more than 6% in premarket trading.

In its fourth quarter results, the company reported adjusted earnings of $0.67, a beat compared to the expected $0.61, per Bloomberg consensus data. Revenue came in slightly lower at $6.35 billion, compared with the $6.37 billion expected.

Prices increased 0.5%, slightly below expectations of a 0.79% increase.

For 2026, the company expects organic net sales to be down 1.5% to 3.5%. Wall Street expected 2026 annual organic revenue to be down 0.56%. Adjusted earnings per share are expected to be in the range of $1.98 to $2.10, whereas Wall Street forecast $2.50.

Vertiv (VRT) stock surged 15% after its 2026 financial forecast surpassed Wall Street's expectations, as the data center market booms, and digital infrastructure companies like Vertiv aim to keep up with the demand.

For the full year, Vertiv expects its adjusted earnings per share to accelerate, reaching $5.97 to $6.07. The Street was looking for adjusted earnings of $5.51 per share, according to S&P Global Market Intelligence.

\\"As we look to 2026, we expect this momentum to continue,\\" Vertiv CEO Giordano Albertazzi said. \\"Our record backlog provides clear visibility into what we expect to be another year of significant growth.\\"

The upbeat outlook overshadowed an earnings miss in the fourth quarter. Vertiv reported earnings of $1.14 per share, just shy of estimates of $1.16. Net sales reached $2.88 billion, roughly in line with estimates.

Shopify (SHOP) stock rose 10% before the bell on Wednesday after forecasting quarterly revenue above Wall Street estimates.

Reuters reports:

The ​company ​expects ​revenue to ‌rise at a low-thirties percentage rate in the first quarter, compared ‌with analysts' ​average ​estimate ​of a ‌25.2% rise, according ​to ​data compiled by LSEG.

Read more here.

Reuters reports:

Humana forecast annual ‌profit below ‌Wall Street estimates on ​Wednesday, as the health insurer expects a hit ‌from ⁠lower quality ratings for its ⁠Medicare Advantage plans for older ​adults.

Humana stock fell 7% before the bell on Wednesday following the news on its earnings.

Read more here.

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.

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