Follow Meta's Q3 2026 earnings live, including revenue, EPS, AI spending, advertising growth, guidance and META stock reaction.

OpenAI disclosed that annualized revenue reached $50 billion at the end of September, well below the $68 billion figure widely reported previously, reigniting scrutiny of its valuation above $850 billion. CEO Sam Altman confirmed the company will not pursue an IPO this year, leaving it under pressure to back up its lofty valuation. Separately, rival Anthropic is reported to be seeking a $2 trillion valuation for a Nasdaq listing.

Nike reported fiscal 2026 Q1 earnings per share of $0.48, topping expectations, while revenue of $11.12 billion came in slightly below consensus. The company sharply cut its full-year adjusted EPS forecast to $1.15 to $1.35 and said it will lay off more employees as part of a restructuring. The stock fell 9% in premarket trading after the results and is expected to open at its lowest level since 2013, with shares down about 45% year to date.

Micron Technology reported fourth-quarter adjusted earnings of $33.42 per share and revenue of $54.23 billion, both above market expectations. The company forecast first-quarter adjusted earnings of $38.15 per share on about $61.5 billion in revenue, also well ahead of analysts’ projections. Wall Street remained bullish, with a $1,550 price target implying nearly 46% upside from Wednesday’s close.

Anthropic’s IPO filing says the company is creating a new “Founder LLC” intended to serve the public interest and insulate its leadership from market forces. Seven cofounders would use the entity to control a single share of Class F stock carrying 50.1% of the voting power over key corporate matters. The filing also shows CEO Dario Amodei earned nearly $18 million in 2025, while President Daniela Amodei received $16.4 million.

Anthropic warned in its IPO prospectus that advanced AI could pose “catastrophic or existential risks” to humanity. Safety researcher Evan Hubinger estimated the probability that AI could kill humans within the next decade at more than 10%. The 261-page main body of the filing devotes about 80 pages to risk factors, nearly twice the space used to describe the business, compared with about 38 pages in SpaceX’s prospectus. Anthropic has also said that in a sample week in July, about 6% of its computing power went to safety research.

Anthropic’s IPO prospectus shows the company posted a $42 billion net loss in 2025 even as revenue rose 12-fold to nearly $4.6 billion and operating losses exceeded $8 billion. The filing says it plans to commit $518 billion to cloud, computing and infrastructure obligations in the coming year. The public offering could value Anthropic at more than $2 trillion and position it as a benchmark for how Wall Street prices leading AI companies, according to Reuters.

Coca-Cola posted stronger-than-expected second-quarter results, with organic sales up 6%, comparable operating margin at 35.6% and comparable EPS rising 11% to $0.97. The company also lifted its full-year guidance, including raising its free cash flow outlook to about $12.4 billion from $12.2 billion. Still, the stock is up 29% year to date, and the average price target of $94.25 implies only about 6% upside.

SoftBank Group said it will raise $11.1 billion through bond issuance, including $10 billion in dollar-denominated senior notes and 1 billion euros ($1.14 billion) in euro-denominated notes. The company plans to use the proceeds to make a $10 billion payment for the third and final tranche of its $30 billion follow-on investment in OpenAI, a deal expected to close Oct. 1. The investment would lift SoftBank’s cumulative backing of the ChatGPT maker to $64.6 billion and give it an approximately 13% stake upon completion. SoftBank shares rose more than 7% on Thursday.