Daily Earnings Reports
📊 Earnings Recap — Monday, August 24, 2026
Monday’s earnings calendar was relatively light, but PDD Holdings and XPeng delivered two very different messages about the Chinese consumer and technology/EV landscape. After the close, PicPay and Tuya were the more notable reports.
☀️ Premarket Earnings
🛍️ PDD Holdings — PDD
Q2 2026 | 🟡 Mixed results, but stock reaction improved
PDD, the parent of Pinduoduo and Temu, reported:
| Metric | Q2 2026 | YoY |
|---|---|---|
| Revenue | RMB112.4B / $16.6B | +8% |
| Online marketing | RMB57.6B | +3% |
| Transaction services | RMB54.7B | +13% |
| Operating profit | RMB27.8B | +8% |
| Net income | RMB27.2B | -12% |
| Non-GAAP net income | RMB28.5B | -13% |
Revenue missed Wall Street expectations of roughly RMB116.35B, but profit came in slightly ahead of forecasts.
The important detail was online marketing revenue, which was stronger than feared, while transaction services continued to grow at a double-digit rate.
📈 Market Reaction
PDD initially traded lower in premarket trading but reversed sharply, with shares ultimately finishing modestly lower after a highly volatile session.
🔎 StockInsight™ Take
🟡 Mixed fundamentally / 🟢 better-than-feared reaction
The biggest concern is the combination of:
Revenue growth slowing + operating expenses rising + profits declining.
But PDD is still producing enormous operating profits and maintaining strong transaction growth.
Key takeaway: The market appears willing to look through the earnings decline as long as Temu and transaction activity remain resilient.
🚗 XPeng — XPEV
Q2 2026 | 🔴 Earnings miss despite strong deliveries
XPeng delivered 103,295 vehicles during Q2 — a huge 65% sequential increase — but the financial results were much less impressive.
| Metric | Q2 2026 | YoY |
|---|---|---|
| Revenue | RMB19.74B / $2.91B | +8% |
| Deliveries | 103,295 | ~Flat YoY |
| Gross margin | 20.7% | Improved |
| Net loss | RMB1.34B | Worse |
| R&D | RMB2.91B | +32% |
| Non-GAAP operating loss | RMB1.04B | Worse |
The problem was profitability.
XPeng’s revenue increased only 8% despite a massive sequential increase in deliveries, while the company continued spending heavily on AI, autonomous driving and new vehicle development.
🚘 Q3 Outlook
Management expects:
Deliveries: 115,000–121,000
Revenue: RMB21.7B–23.4B
The company is also betting heavily on newer, higher-margin models and physical AI.
📉 Market Reaction
XPEV plunged roughly 8% on Monday.
🔎 StockInsight™ Take
🔴 Bearish near term
XPeng’s delivery growth is encouraging, but investors are asking a much harder question:
Can XPeng convert rapidly growing volumes into sustainable profits?
For now, the answer remains uncertain.
🔐 NAPCO Security Technologies — NSSC
Q4/FY2026 | 🟢 Strong beat
NAPCO delivered one of the more impressive smaller-cap earnings reports of the morning.
| Metric | Actual |
|---|---|
| Revenue | $55.81M |
| GAAP EPS | $0.50 |
| Normalized EPS | $0.50 |
| Revenue growth | ~10%+ |
The company beat expectations on both revenue and earnings.
Recurring revenue and operating leverage remain central to the investment story.
📈 Market Reaction
Shares jumped roughly 11%–12% following the report.
🔎 StockInsight™ Take
🟢 Bullish
NSSC was arguably the best percentage mover among Monday’s premarket earnings names.
🌙 After-Close Earnings
Monday evening was much quieter than a typical earnings session. There were no major mega-cap reports after the bell; the more notable releases were PicPay and Tuya. PicPay had explicitly scheduled its Q2 release after the close, while Tuya also confirmed an after-market release.
💳 PicPay — PICS
Q2 2026 | 🟢 Very strong growth
PicPay reported a significant acceleration in its Brazilian digital-finance business.
| Metric | Q2 2026 |
|---|---|
| Revenue | $119.4M |
| Revenue growth | +92% YoY |
| Gross profit | $82.1M |
| Gross-profit growth | +148% |
| Net income | $52.2M |
The report follows a strong Q1 in which PicPay’s revenue had already grown approximately 70% year over year and adjusted net income rose 92%.
🔎 StockInsight™ Take
🟢 Strong
The key attraction is the combination of:
rapid revenue growth + expanding gross profit + rising profitability.
For a digital financial-services company, that’s considerably more attractive than growth being driven purely by customer acquisition.
🤖 Tuya — TUYA
Q2 2026 | 🟡 AI/IoT growth story
Tuya reported after the close, with Wall Street previously looking for approximately:
EPS: ~$0.03
Revenue: ~$88–90M
Tuya is particularly interesting because its business sits at the intersection of:
🤖 AI
🏠 Smart home
☁️ Cloud platforms
📱 IoT
⚙️ Physical AI
Its Q1 revenue had increased 8.3% YoY to $80.9M, while AI application and other revenue grew approximately 17%.
🔎 StockInsight™ Take
🟡 Watch
The important question is whether AI-related products can become a meaningful incremental growth engine rather than simply a narrative attached to the existing IoT platform.
🏆 Monday’s Earnings Winners & Losers
| Rank | Company | Result | Reaction | Signal |
|---|---|---|---|---|
| 🥇 | NSSC | Strong beat | 🟢 +11%/+12% | Bullish |
| 🥈 | PICS | Huge revenue/profit growth | 🟢 | Bullish |
| 🥉 | PDD | Profit beat / revenue miss | 🟡 | Mixed |
| 4️⃣ | TUYA | AI/IoT report | 🟡 | Watch |
| 🔻 | XPEV | Loss widened | 🔴 ~-8% | Bearish |
🔥 Biggest Earnings Lessons
1. 🇨🇳 Chinese Consumer — Still Uneven
PDD’s report suggests Chinese e-commerce demand isn’t collapsing, but growth is becoming harder to generate.
Revenue +8% while net income -12% is a clear indication that competitive and investment pressures are increasing.
2. 🚗 EV Growth Doesn’t Automatically Mean Profitability
XPeng delivered more than 103,000 vehicles, yet the market punished the stock.
That’s because investors increasingly want:
Volume growth → margin growth → cash flow → profitability
—not simply more deliveries.
3. 💰 Small-Cap Earnings Can Produce the Biggest Moves
NAPCO’s double-digit rally shows why smaller companies can be much more sensitive to earnings surprises.
A relatively small revenue beat can have an enormous effect when:
- expectations are low,
- margins are expanding,
- recurring revenue is growing,
- and the stock has significant short-term positioning.
4. 🤖 AI Remains the Dominant Narrative
Even Monday’s reports had an AI angle.
XPeng: autonomous driving + physical AI
Tuya: AI + IoT
PDD: technology/consumer platform investment
Nvidia: looming Wednesday catalyst
And that brings us to the biggest event of the week.
🤖 Wednesday: NVIDIA
Monday’s earnings were ultimately a warm-up for Wednesday.
Nvidia is scheduled to report after the close on August 26, with analysts expecting approximately 99% year-over-year EPS growth and 97% revenue growth.
The market is therefore going to be watching:
Data-center revenue → Blackwell demand → gross margins → hyperscaler CapEx → China exposure → forward guidance
Nvidia’s result has the potential to move the entire AI complex, not just NVDA.
📌 StockInsight™ Bottom Line
🟢 Best Report
NSSС — strong beat + powerful market reaction.
🟢 Best Growth Story
PICS — revenue +92% and gross profit +148%.
🟡 Most Interesting Large-Cap
PDD — mixed numbers, but resilient underlying profitability and a better-than-feared reaction.
🔴 Biggest Disappointment
XPEV — strong deliveries couldn’t compensate for continued losses and heavy investment.
👀 One to Watch
TUYA — AI/IoT story with the potential for operating leverage if growth accelerates.
Overall earnings signal: 🟡 MIXED
Monday’s reports showed that investors are becoming increasingly selective. Revenue growth alone isn’t enough, and neither is an EPS beat. The market wants to see profitable growth, improving margins and credible forward guidance.
And with Nvidia, Salesforce, CrowdStrike and other major technology names ahead, the real earnings test is only beginning.
