🇺🇸 Apple is American

More tariffs?

Apple goes American

Big earnings

Euro zone retail sales grow quicker than thought after revisions.

Toronto home sales post biggest increase in nine months in July.

UBS revised BoJ forecast, now expects 25 basis point rate hikes in December 2025 and June 2026 as the country’s real wage falls for sixth straight month in June. Similarly, India’s central bank holds rates amid U.S. trade policy uncertainty.

e.l.f. Beauty's fiscal Q1 profits dropped 30% to $33.3 million from $47.6 million a year ago, impacted by new China tariffs, as 75% of its products are sourced from China. Despite this, the company beat Wall Street expectations with adjusted earnings of 89 cents per share (vs. 84 cents expected) and revenue of $354 million (vs. $350 million expected), up 9% from $324 million last year. Sales growth slowed to single digits for the second consecutive quarter. E.l.f. raised prices by $1 to offset tariffs and is diversifying its supply chain. The company issued guidance for the first half of the fiscal year, projecting sales growth above 9% and EBITDA margins of 20%. Yet, it fell 12%.

DoorDash reported strong second-quarter results, surpassing analyst expectations with earnings of 65 cents per share against 44 cents anticipated and revenue of $3.28 billion, exceeding the $3.16 billion forecast. This marks a 25% revenue increase from $2.63 billion a year ago, with net income of $285 million compared to a $157 million loss in the prior year. Total orders grew 20% to 761 million, and gross order value rose 23% to $24.2 billion. For the third quarter, DoorDash projects marketplace gross order value of $24.2-$24.7 billion and adjusted earnings of $680-$780 million, while continuing investments in new categories and international markets.

Airbnb's Q2 results exceeded expectations, with earnings of $1.03 per share (vs. 93 cents expected) and revenue of $3.1 billion (vs. $3.04 billion expected), up 13% from $2.75 billion last year. Net income rose to $642 million from $555 million. Nights and stays booked increased 7% to 134.4 million, and gross booking value reached $23.5 billion. For Q3, Airbnb forecasts revenue of $4.02-$4.1 billion. The company authorized a $6 billion share repurchase program, having repurchased $1 billion in Q2.

Match Group’s stock rose over 10% after issuing strong revenue guidance of $910M-$920M for the current quarter, surpassing analysts’ $890M estimate. New CEO Spencer Rascoff, appointed in February, emphasized a startup-like approach, focusing on AI-powered tools and features like Tinder’s double-date option, with 90% of users under 30. The company is targeting Gen Z with college-focused features and plans to invest $50M in product development.

Uber reported a revenue increase of 18% from a year earlier, topping analyst estimates. The ride-hailing company said it’s authorized a $20 billion share buyback. Revenue increased 18% from $10.7 billion a year earlier. Uber’s “monthly active platform consumers” increased 15% to 180 million in the second quarter. The company said users booked around 3.3 billion trips during the period, up 18% from a year earlier. In some international markets, Uber Eats’ food delivery service is more popular than ride hailing, and the company is working to increase “cross-platform activity” to drive sales growth. Also, AI is now a major focus for Uber.

McDonald’s reported quarterly earnings and revenue that topped analysts’ expectations. The fast-food giant also reported same-store sales increased 3.8%, the chain’s biggest jump in nearly two years. Despite the improved performance, CEO Chris Kempczinski said the company was still concerned about the health of the low-income consumer.

Honda said that its operating profit in the June quarter fell about 50% year over year due to U.S. auto tariffs and a stronger yen. However, Japan’s second-biggest carmaker said that the full year impact of the auto tariffs would be smaller than previously expected.

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