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The e-com tools and payments vertical leader — $Shopify (SHOP.US) reported Q1 2026 results pre-market on May 5. Overall, the quarter was solid.
Growth and profit beat Bloomberg consensus. Excluding FX tailwinds, however, the print offered little upside vs. buy-side expectations.
Guidance for next quarter showed minor blemishes. While broadly in line with Bloomberg consensus, the trajectory points to an 'inevitable' slowdown in GMV, revenue, and profit growth...
+10Hi all, this is Dolphin Research. $Roblox(RBLX.US) Q1 was a bomb, with the biggest issue being a sharp cut to growth guidance.
The immediate trigger was tighter child-safety regulation across markets and regions. More fundamentally, the game content cycle has softened.Ahead of the print, close tracking of platform data had primed the market for near-term pressure. That was evident in the stock's continued weakness.However, management's guidance came in even more downbeat. While we think they have a track record of conservative, arguably sandbagged guides, the message is clear. Near-term growth visibility has deteriorated...
+13
It is hard to see a clear end to the US,Israel and Iran tensions right now. Energy prices will stay high for sometimes and the economic impact could be tough.
Honestly feeling quite pessimistic. 2026 looks like a challenging year ahead.
Happy trading and keep more cash to buy more when there is a correction. Do not chase and buy now.😁
☕️ Daily Market Talk | March 26, 2026
🇺🇸🇭🇰🇸🇬 Big moves across US, HK, SG markets. Join the chat & earn Task Coins!
1) Xiaomi Spring Launch: Key Points. $XIAOMI-W(01810.HK) The event's highlights were the SU7 refresh and progress on its AI foundation model.
a) New-gen SU7: essentially a mid-cycle refresh. Exterior changes are minor, with the focus on hardware upgrades and a small price bump. On configs, the update favors the Standard and Pro trims. Across the lineup, standard kit now includes the V6s Plus super e-motor, lidar and 4D mmWave radar, NVIDIA Thor-U, the Jiaolong chassis, and front four-piston fixed calipers. Pricing-wise...
+13VIPS 4Q25 First Take: A warmer winter and a late Lunar New Year weighed on winter apparel sales. Management had already lowered guidance, but the actual print came in worse. Details below.
1) Operating metrics turned softer: active buyers declined YoY, down by approx. 0.4 mn. With lower purchase frequency per user, order volume fell 5% YoY.
A higher AOV, likely driven by product mix upgrades and SVIP contribution, barely kept GMV in positive territory. In short, all three metrics missed expectations.2) With GMV lagging, revenue fell 2.3% YoY, worse than the market’s post-cut expectation of sub-+1% growth. The company is no stranger to managing through revenue declines.
Amid weak topline, tight cost control helped: total opex fell 3.7% YoY, a larger drop than revenue, with all expense lines down. As a result, profit still grew +1.7% YoY.
Operating profit reached RMB 2.9 bn, beating market expectations.3) In summary, the quarter was soft, but protecting profitability is commendable. The late Lunar New Year also suggests better sales in 1Q26.
Management guided next quarter revenue mid-point to +2.6% YoY, back to growth and slightly above consensus. Hence, the weak 4Q print should not be overly penalized.On shareholder returns, buybacks totaled approx. $700 mn over the past year, plus ~$250 mn in dividends, exceeding $950 mn in aggregate. That equals about 11% of current market cap.
This provides solid support for the stock. The company also announced it will pay an annual dividend next year of approx. $305 mn, up 22% YoY. $Vipshops(VIPS.US)
1216 | Dolphin Research Focus: 🐬 Macros/Industry. The U.S. Bureau of Labor Statistics will release on Tue a closely watched 'combined' Oct–Nov nonfarm payrolls report. Street expects -10k in Oct and +50k to +130k in Nov, with the unemployment rate rising to 4.4%–4.5%, while Gov. payrolls will be weighed by deferred exits under delayed separation plans across Oct–Nov.
🐬 Single stocks. 1) $Alibaba(BABA.US) rolled out the Wanxiang 2.6 model suite...
The following is the FY25Q3 earnings call minutes of $Shopify (SHOP.US) organized by Dolphin Research. For earnings interpretation, please refer to "Shopify: Is Imperfection Unacceptable, the Original Sin of High Valuation?" 1. Review of Core Financial Information 1. Third-quarter stock-based compensation expense was $116 million, and capital expenditure was $6 million. Free cash flow for the third quarter reached $507 million, accounting for 18% of total revenue. The free cash flow profit margin for the first nine months of this year remained the same as the same period last year, at 16%; this quarter's transaction and loan losses accounted for approximately 5% of revenue...
As the most watched hot target in the current e-commerce AI field—Shopify announced its Q3 2025 financial report on the evening of November 4th, before the U.S. stock market opened. Overall, the growth performance remains quite strong, with GMV growth accelerating sequentially on a high base. However, due to a narrowing gross margin and expenses returning to an expansion cycle, the year-on-year contraction in profit margin has widened, which is not considered favorable. Specifically: 1. Strong GMV growth, the source of all exceeding expectations: GMV within the Shopify ecosystem reached $9.2 billion this quarter, up 32% year-on-year, further accelerating on the already high base of the previous quarter, significantly outperforming expectations...
+11Can it reclaim the throne?
+12Over the past 25 years, inflation has gone up about 87%. Not great but at least somewhat predictable. What’s completely out of line is how health insurance premiums exploded 319% in that same span. That single number explains why so many people feel broke even when the economy supposedly looks “strong.”
Wages never caught up. Most workers saw pay rise maybe 50%, and that’s being generous. People are still doing the same jobs, putting in the same hours but every year, more of their paycheck disappears just to keep their healthcare. We have a system that drains you, leaving families choosing between medical bills, rent, and groceries.The issue isn’t only that healthcare got expensive, it’s how it happened. The industry is packed with middlemen, especially pharmacy benefit managers (PBMs), who make billions by marking up drug prices. They’re supposed to negotiate discounts, but they’ve turned into the ones inflating costs. The FTC found specialty drugs marked up over 1,000%. A cancer drug that costs $30 somehow turns into a bill for thousands. And it all happens behind closed doors, where no one can see who’s pocketing what.That’s the trick. The system thrives on confusion. The harder it is to understand, the easier it is for companies to hide margins and shift blame. That’s why 91 million Americans can’t afford proper healthcare. One in three people skipped or delayed care last year simply because of cost. This has become the new normal. A few people, like @mcuban are at least trying to chip away at the problem. His company, Cost Plus Drugs, runs on transparent pricing, buying drugs directly, keeping margins low, and publishing what everything costs. It’s not a silver bullet but it’s proof that the system’s complexity isn’t necessary. The moment someone shows a simpler, cheaper model, it exposes how much of the existing cost is artificial.Thank you, Mark Cuban, for proving that doing the right thing can still shake an entire industry.Source: StockMarket.News
The following are the minutes of Coca-Cola's FY25 Q3 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to "Bulk Happiness from 'Fat House Water'?"
