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Earnings Preview

Thursday, September 24, 2026

1 company from our universe reports on this day.

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Earnings Preview
Servers & Compute · Q3
Consensus EPS$4.70Revenue est$18.9BMkt cap$23B
Beat 6 of last 7 quarters. Consensus: $18.91B rev / $4.70 EPS. YoY growth (latest Q): +31% revenue, +62% EPS.
Price: $288 — YTD +68.0% — 52-wk $142 to $299 — Mkt cap $23B
Multiples: EV/EBITDA 10.9x — P/E 18x — Fwd P/E 15x

The bar looks clearable given Q1's +24% gross billings, +95% Hive growth, and 3-of-3 linked peer beats, but Hive's 72 bp margin decline and 11.1x EV/EBITDA versus 7.5x-8.6x history mean execution must be clean. The real story tonight is whether new hyperscale programs are on track for late FY2026/FY2027 and whether Hive margins stabilize. A good quarter likely shows continued strong billings; a great one would pair that with Hive margin inflection, confirmed new-customer ramps, and share repurchases ramping from Q1 levels.

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These previews are generated from our company intelligence files, evidence packs, and supply chain data. All claims are sourced from company filings and earnings transcripts. This is not investment advice.