Q2 FY2026 EarningsFY26 Q2 results missed consensus across nearly all headline metrics: revenue of $1,172.0M vs. $1,343.1M expected (-12.74%) and EBIT of $3.0M significantly below the $34.4M consensus (-91.28%). GAAP Net Loss was wider than expected at -$365.1M vs. -$75.0M, impacted by non-cash investment fair value adjustments and a $122.6M FX loss. While operating cash flow of $338.5M (H1) slightly outpaced H1 FY25, adjusted free cash flow remains deeply negative at -$469.7M for the first half, driven by elevated network upgrade capital expenditures.