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Dolphin Research

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Likes ReceivedJun 25 at 02:04 AM

QCOM (Trans): From chipmaker to platform solutions co

Below is Dolphin Research's Trans of QCOM 2026 Investor Day. Key financial highlights are as follows.

Shareholder returns: $40 bn returned to shareholders over the past five years, and 30% of shares repurchased and retired over the past decade. Looking ahead, dividend growth will stay in the low to mid single digits, with most FCF returned to shareholders.

Financial targets were materially raised. The FY29 non-handset revenue target was lifted to $40 bn from $22 bn set 18 months ago, nearly doubling...

Meta Platforms

USMETA

QualcommConference Minutes

Dolphin Research

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Likes ReceivedJun 25 at 12:43 AM

TCOM (Trans): Aims to serve 10x inbound travelers within 5 yrs

Below is Dolphin Research's Trans of the FY26 Q1 earnings call for $Trip.com(TCOM.US). For the earnings analysis, please see 'Before the regulatory crackdown hits, does Trip.com have one last leg down?'

I. Core info recap 1) Core financials: Q1 FY26 total net revenue was RMB 16.2bn (+17% YoY), slightly above market expectations (RMB 15.8bn; ~2% beat). Non-GAAP diluted EPS per ADS was RMB 5.73 (~$0.83). As of Mar 31, 2026...

Trip.com

USTCOM

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Dolphin Research

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Likes ReceivedJun 24 at 09:39 PM

MU (Trans): Supply tightness to last through 2027

Below is Dolphin Research's compilation of Micron Technology's FY26 Q3 earnings call Trans.

I. Core takeaways from the print.

1) FQ4 guidance (record): revenue of $50 bn (±$1 bn), GPM about 86%, and OpEx around $1.65 bn.

EPS guided to a record $31 (±$1), based on approx. 1.15 bn shares. Tax rate ~15%.

The FQ4 GPM guide already factors in a clear slowdown in price increases.

For FY27, OpEx is expected to rise by about $1 bn to expand R&D.

Micron Tech

USMU

MicronConference Minutes

Dolphin Research

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Likes ReceivedJun 10 at 11:24 PM

Oracle (Trans): 2027 capex exceeds 90bn, with one-quarter covered by prepayments

Below is Dolphin Research's compiled Trans of $Oracle(ORCL.US) FQ4 2026 earnings call. For the earnings analysis, see 'ORCL Plunge? AI Infra Can't Fix the Core Weakness — High Rates, High Debt + Stalled Software'.

Section I: Core recap. 1) FY27 full-year guide: total revenue approx. $90bn; non-GAAP EPS est. at $8.05...

Oracle

USORCL

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Dolphin Research

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Likes ReceivedJun 4 at 10:41 PM

LULU Trans: Q2 discounting peaked; sequential improvement ahead

Below is Dolphin Research's Trans from Lululemon's FY26 Q1 earnings call.

For our earnings take, see 'Lululemon: Founder blasts, weak print—can a new CEO save its black-leggings franchise?'

Lululemon

USLULU

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Dolphin Research

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Likes ReceivedJun 3 at 11:10 PM

AVGO (Trans): Pure-play chips; customers like Google are diversifying supply chains.

Below is Dolphin Research's Trans of $Broadcom(AVGO.US) FY26 Q2 earnings call. For our earnings take, please see 'AVGO: Giants vs. Giants — Is the ASIC camp splitting?'

Core highlights from the quarter include: 1) shareholder returns and 2) Q3 outlook. The company paid $3.1bn in cash dividends in Q2, equivalent to a quarterly cash dividend of $0.65 per common share, and guides Q3 consolidated revenue of $29.4bn (+84% YoY)...

Destiny Tech100

USDXYZ

BroadcomConference Minutes

Dolphin Research

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Likes ReceivedJun 1 at 10:33 AM

Meituan (Trans): 2Q on-demand delivery UE to keep improving, may turn positive

Below are Dolphin Research's notes from the FY1Q26 earnings call for $MEITUAN(03690.HK). For our earnings take, please see 'Meituan: As AI draws the fire, finally room to breathe?'.

I. Key highlights from the print. 1) Shareholder returns: no dividend or buyback plans were mentioned this quarter.

2) Outlook: management did not provide specific revenue or profit guidance, but offered directional color. If industry competition remains rational, Q2 on-demand delivery UE (unit economics) should improve meaningfully vs. Q1 ...

MEITUAN

HK03690

MeituanConference Minutes

Dolphin Research

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Likes ReceivedMay 29 at 04:42 AM

FeaturedLI (1Q26 Trans): Maintains 20%+ 2026 sales growth target

The new L9 has launched and is now being delivered. Q2 GPM is expected to recover to ~10%.

Li Auto

USLI

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Dolphin Research

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Likes ReceivedMay 29 at 12:57 AM

COST (Trans): tariff refunds to be received within a few months

Below is Dolphin Research's Trans of $Costco Wholesale(COST.US) FQ3 2026 earnings call. For our earnings take, see 'Inflation Resurges, Costco Still Resilient'.

I. Earnings highlights recap. 1) Key financials: FQ3 2026 (12 weeks ended May 10, 2026) net income of $2.20bn (+15% YoY), with diluted EPS of $4.93.

Net sales were $69.15bn (+11.6% YoY). Comparable sales rose 9.8%...

Alphabet - C

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Dolphin Research

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Likes ReceivedMay 28 at 10:20 PM

DELL (Trans): Demand outpaces supply; biz. pipeline several times backlog

Below is Dolphin Research's Trans of DELL FY27 Q1 earnings call. For our earnings analysis, see 'Dell: AI is surging, legacy is warming up, fully fired up!'.

1) Key takeaways for $Dell Tech(DELL.US). Shareholder returns: DELL returned $2.1bn to shareholders in Q1, repurchasing 11 mn shares at an Avg. price of $147 and paying a dividend of approx. $0.63 per share. The company reaffirmed its capital return framework, with buybacks to remain strong.

Destiny Tech100

USDXYZ

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