Trade Desk, Rocket Lab and Onto Innovation Lead Strong Monday Earnings Wave as Hims and Lucid Disappoint

The Trade Desk delivered the most striking beat of the evening, posting Q3 revenue of $736 million against estimates of $650 million and adjusted EPS of $0.33 versus the $0.25 consensus, with adjusted EBITDA of $266 million far exceeding the $161 million estimate. The programmatic advertising platform guided Q4 revenue to at least $755 million, well above the $685 million analysts had expected, and expanded its buyback authorization to $1 billion total. Management acknowledged results were still below the company's own growth expectations but said the trajectory was improving.

Rocket Lab reported record Q3 revenue of $268 million, up 73% year over year and beating estimates by roughly $11 million, though a GAAP EPS loss of $0.12 missed the $0.07 consensus. The headline announcement was more than $515 million in signed contracts for the Neutron rocket across 16 missions at a $70 million base price, pushing total backlog to $3.57 billion, a 52% sequential increase. The company guided Q4 revenue to $270 million to $290 million, ahead of the $265 million estimate, with gross margin expansion expected. Neutron's first launch is targeted no earlier than 2027.

Onto Innovation set a quarterly revenue record of $410 million, up 88% year over year and 19% sequentially, beating estimates of $392 million, while adjusted EPS of $2.44 exceeded the $2.30 estimate by 6%. The semiconductor process control equipment maker guided Q4 revenue to $430 million to $450 million against a $413 million estimate and said it expects full-year 2026 revenue growth to exceed 45%.

Skydance reported its first quarterly results under the combined Paramount Skydance name following completion of the Warner Bros. Discovery acquisition. Revenue came in at $7.03 billion, roughly in line with the $7.04 billion estimate, while adjusted EPS of $0.45 handily beat the $0.11 consensus. Paramount Plus added subscribers to reach 82.2 million, up 6% year over year, with streaming revenue rising 21%. Management set a target of at least $6 billion in annualized run-rate synergies within three years across more than 20 workstreams, with net leverage targeted at 3.0 times by end of 2029.

Zeta Global beat on all metrics, with Q3 revenue of $492.7 million up 46% year over year against a $474 million estimate and free cash flow of $81.5 million beating the $68.3 million forecast. The company raised its full-year revenue outlook to $1.853 billion to $1.857 billion from $1.8 billion previously and lifted its adjusted EBITDA guide to roughly $414 million to $415 million.

Hims and Hers was among the notable misses, with Q3 revenue of $890.4 million falling just short of estimates and GAAP EPS of negative $0.14 missing the $0.06 consensus by $0.20. More significantly, the company cut its full-year revenue guide to $3.13 billion to $3.15 billion, below the $3.21 billion analyst consensus, and guided Q4 revenue to $875 million to $895 million against an expected $953 million. Gross margin contracted 1,700 basis points year over year as the company expanded into branded weight-loss drugs and international markets, with international revenue up more than 300% year over year.

Lucid missed sharply, with Q3 revenue of $350 million falling nearly $57 million short of estimates and adjusted EBITDA of negative $726 million running far worse than the negative $613 million forecast. The EV maker said free cash flow consumption fell 30% sequentially and cited a $1.75 billion increase from anchor shareholder the Public Investment Fund, bringing pro forma liquidity to $3.75 billion. Production of its midsize vehicle is planned for the second half of 2027.

Occidental Petroleum beat on the profit line with adjusted EPS of $1.91 against a $1.46 estimate, up 275% year over year, as realized oil prices of $85.91 per barrel compared with $64.78 a year earlier. Revenue of $6.77 billion missed estimates slightly. The company said it reached a milestone of reducing principal debt to $10 billion after retiring $10.4 billion since the start of the year, with free cash flow of $2.78 billion up 88% year over year.

AST SpaceMobile missed revenue estimates with $42.3 million against an expected $46.6 million and an EPS loss of $0.44 versus the $0.40 estimate, but affirmed its full-year revenue guidance of $150 million to $200 million. Key announcements included $1 billion in non-dilutive funding from Japan and a roughly $100 million U.S. Space Force contract, one of 16 awards to date. The company said it expects to reach a production rate of six ASIC satellites per month in December and plans to have more than 100 BlueBird satellites deployed during 2027 and 2028.