Earnings to Watch – Week of 11 May 2026

$2222 publishes Q1 on Sunday 10 May, with the earnings call Monday morning. Consensus puts Q1 net profit near SAR 109 billion, up roughly 14% year on year and 57% sequentially, on revenue close to SAR 455 billion. Brent averaged around $79 a barrel in the quarter, up roughly 25% sequentially, with Aramco's realised price tracking near $81. Management has guided 2026 dividends to roughly $85 billion, down from $124 billion in 2024 after the performance-linked payout was effectively zeroed in late 2024, alongside a SAR 11.25 billion buyback programme that started in March.

$CEG reports Q1 with consensus near $2.56 of EPS on revenue of roughly $8.21 billion, around 20% top-line growth. The Calpine acquisition closed in January for $26.6 billion, taking total generating capacity to 55–60 gigawatts and adding the largest US gas and geothermal fleet to a company already the largest carbon-free producer in the country. To clear the DOJ's first electricity-merger consent decree in 14 years, Constellation completed a $5 billion sale of 4.4 gigawatts of gas capacity to LS Power in mid-March, with proceeds earmarked for the Crane Clean Energy Center restart that underpins the 20-year Microsoft PPA. The shares have come in roughly 22% from the 52-week high after a Q4 print and FY2026 guide that landed below AI-utility expectations, and PJM has flagged the Crane interconnection for potential delay to 2031.

$MUV2 reports Q1 with management's three-year roadmap pointing to 2026 IFRS net profit of €6.3 billion, insurance revenue of €64 billion, and a P&C reinsurance combined ratio near 80%, all already raised at the November capital markets day. The Q1 print is the first read on whether the LA wildfire losses that hit Q1 2025 (€1.1 billion of net profit absorbed in major catastrophe charges) repeat in any form, and whether reinsurance pricing held into the April 1 renewal round after softer signals in January. The buyback authorisation runs at €2 billion for the year.

$SE reports Q1 before the US open. Consensus sits around $6.4 billion of revenue and $0.96 of EPS after a Q4 that delivered 38% revenue growth to $6.9 billion and 73% net income growth to $411 million, capping a year where full-year net income reached $1.6 billion against just $448 million in 2024. Shopee finished 2025 with $16.6 billion of revenue (up 33%) and adjusted EBITDA of $881 million, a roughly six-fold improvement on 2024; Garena bookings reaccelerated to 24% in Q4; and Monee crossed $1 billion of adjusted EBITDA on a loan book that grew 80% to $9.2 billion. Management has guided Shopee to roughly 25% GMV growth in 2026 with adjusted EBITDA at least at the 2025 level.

$TCEHY reports Q1 with consensus around 11% revenue growth and similar adjusted profit growth – the first 2026 print after a 2025 in which revenue rose 14% to RMB 752 billion and net profit climbed 16% to RMB 225 billion. Consensus puts online games revenue up roughly 12% year on year on a fuller pipeline including Honor of Kings: World, after Q4 saw international gaming up over 30% and domestic up 15%. Management has guided cloud to roughly 25% growth on AI-agent rollouts and Hunyuan 3.0, which launched in April, with advertising compounding on AI-enhanced targeting after Q4 grew 17%. Tencent spent about RMB 79 billion on capex in 2025 (close to flat on 2024 given the chip-curb constrained ramp) and has guided to a doubling of dedicated AI spend in 2026, which management said would trim non-GAAP margins by 3–4 points.

$CSCO reports fiscal Q3 after the close, having guided revenue to $15.4–15.6 billion and non-GAAP EPS to $1.02–1.04 at the Q2 print in February. In Q2, revenue grew 10% to $15.3 billion, product orders rose 18%, and hyperscaler AI infrastructure orders hit $2.1 billion in the quarter alone – up from $1.3 billion sequentially and matching the entire FY2025 take. Management raised the full-year AI-order target to over $5 billion with hyperscaler revenue contribution above $3 billion, and called out design wins at five of the six major hyperscalers on Silicon One systems including the G300, the energy-efficient N9000 and N8000 platforms, and the new 1.6T and 800G optics. On Splunk, the cloud subscription mix shift weighed on revenue growth in Q2 and management said the drag would persist into the second half. Options are pricing an implied move of around 5%.

$AMAT reports fiscal Q2 after the close. Consensus sits at roughly $2.68 of EPS on revenue of $7.69 billion, in line with the company's own guide. ASML and Lam have already printed; the major US hyperscalers reaffirmed multi-hundred-billion-dollar 2026 capex envelopes in their April reports; and Morgan Stanley expects AMAT to lift calendar-year 2026 wafer-fab equipment guidance from 20% growth to 25% or more. Sell-side estimates put AMAT's DRAM exposure at roughly 31% of CY2026 revenue, the highest in the WFE group as HBM4 capacity ramps. China revenue ran around $8.5 billion in fiscal 2025 and the company accrued $252.5 million in Q1 to settle a Bureau of Industry and Security export-controls matter, including a three-year suspended denial order.

$RCRUY closes the week with full-year FY2026 results (year ended 31 March 2026). Q3 was a beat-and-raise: HR Technology US revenue grew 10.1% year on year on a USD basis with US Average Revenue Per Job up 18%, Q4 was guided to 12.4% revenue growth with ARPJ up 19%, and full-year guidance was raised to JPY 3,664.7 billion of revenue and JPY 763.8 billion of EBITDA-plus-SBC at a 20.8% margin, with EPS up 23%. HR Technology (Indeed, Glassdoor) generates the vast majority of group profits, with management citing Premium Sponsored Jobs and placement automation as the drivers of the ARPJ step-up.