#financialresults

Pulled from the bottom of this article: https://www.ccgcatalyst.com/thought-leadership/commentary/one-year-after-the-worst-day-what-fiservs-earnings-told-bankers/
Funny how they ignore employee attrition/layoffs for improvement and only concentrate on customer attrition in the analysis. Hmmm.

Our View: What Comes Next for Fiserv
Fiserv is no longer a vendor in freefall, but it is not yet a vendor in recovery. The quarter showed stabilization – guidance held, attrition improving, investment visible – and the strategy is finally coherent: fewer cores, common components, a smaller portfolio. What it has not shown is proof. For institutions on Premier, Precision, or Cleartouch, the direction now points toward CoreAdvance, and CoreAdvance itself is still being built in phases; negotiate which phases you are entitled to, and on what dates, in your next contract, while Fiserv needs retention wins. For DNA institutions, the call placed DNA among Fiserv’s leading client wins, but it still sits outside the CoreAdvance consolidation – get the investment commitment in writing. For banks evaluating Fiserv, this is a buyer’s market: a vendor rebuilding its sales motion will trade price, terms, and conversion support for a reference. Our test for the next 12 to 18 months: named CoreAdvance clients live on phases beyond infrastructure consolidation, attrition improvement appearing in reported banking revenue by late 2027, and divestitures that leave the bank-facing business intact.

My final comment: a year after the worst day, the most useful thing the crash taught the industry has nothing to do with Fiserv in particular. Every critical vendor – public, private equity-owned, or cooperative – has a financial condition, a strategy under revision, and an owner with options. The banks that handled last October calmly were not the ones with the best stock forecasts; they were the ones that already knew which risks they were carrying, had the contract language to match, and could answer their boards from their own files. Yesterday’s call was the best one Fiserv’s bank clients have heard in two years – attrition peaking, guidance held, investment visible, a named, $20 billion CoreAdvance go-live. Put it in the file next to the five questions, and ask the sixth one in writing: the call promised that common componentry will end the question of how many cores Fiserv has – so which componentry, on what dates, reaches the core your institution runs?

CCG Catalyst advises banks, credit unions, and fintech companies on core evaluation, vendor selection, and contract negotiation. If your institution is approaching a core decision, reach out to our team at www.ccgcatalyst.com.

See our latest announcement: CCG Catalyst’s Paul Schaus Named a 2026 Top Consultant by Consulting Magazine

By: Paul Schaus | Founder & Managing Partner, CCG Catalyst Consulting

Blowout quarter from Fidelity shares (1.73 wow!) I am sure management will spin this as a "RTO" win. Just one more quarter for vesting and I am outta here!

Optimum's path likely leads to a lender deal or bankruptcy court – analyst
'Absent a breakthrough creditor agreement, Optimum is days away from a bankruptcy filing,' reckons MoffettNathanson, which is skeptical that the troubled operator can quickly find a buyer.

Picture of Jeff Baumgartner
Jeff Baumgartner,Senior Editor,Light Reading
November 9, 2026

Holy moly how bad are things really. They've always showed how separate product buckets did YoY. They completely skipped that this time. Dude was literally fumbling his words trying to justify how bad financially things are WHILE READING OFF A CRUMBLED PIECE OF PAPER JUST SO HE DOESNT HAVE TO SHOW THE NUMBERS. How shameless and brain dead are these people really. Manipulate the numbers, have nothing to show for it and then just dont show anything. Fire everyone in the ELT right now, this company is a dumpsterfire.

Steve R - sure, we shared with investors that we did some reclassification, but they get it. Steve, let me rephrase that "A month into Q1, we looked at what core parts of the business were bleeding money, and we secretly moved all of that into non core business units where that loss isn't reported because it is now non core". So no, core overall continued to drop in a big way.

How is this a sound business strategy?

"As of the third quarter of 2026, Enbridge Inc. has a total debt of approximately CA$112.2 billion."
"Investors remain cautious over Enbridge's (TSX:ENB) elevated debt load,"
now what E?
how do you plan on reducing E'S debt???
layoffs?
lots of layoffs?

This board's default setting is to treat SM, SA, and the rest of the ELT like a punchline. I'm not joining that chorus.

I think well of this leadership team because of what they actually reported and decided, not because I claim to know their motives. Non-GAAP EPS came in at $0.70 and beat the Street. Public cloud ARR reached $700 million, up 11%. Adjusted free cash flow was $96 million. They raised the full-year EPS outlook and reaffirmed the ARR and adjusted free cash flow ranges. They've also been putting real investment into AI, including the products and capabilities they just highlighted with the quarter. That's the record. It's why I respect the job they're doing.

On the question this forum never gets tired of asking: my view is that further layoffs are unlikely, but possible; I have no inside information. That is not a forecast I can verify, not a guarantee, and not proof that anyone's job is safe. Earnings don't certify headcount. If there's an official announcement, that will speak for itself. Until then, I'm going to judge the people running the company by the results they put on paper, not by the next date someone invents in a comment.

Q1 FY27 is in the books, and leadership wants a gold star for a margin bump while the business keeps shrinking. Revenue down again. Digital, the channel this company bet the whole farm on, falling double digits. Nike’s own stores down too. And their guidance for the full year: sales falling high-single digits. That is the plan. Out loud. To investors.

What’s the answer from the top? Another branded “transformation.” Remember the cost realignment from March? Now there’s “Pace,” a shiny name for the same move: billions in “savings” through 2031, paid for with a billion dollars in charges that are mostly people. Two layoff rounds in one year and the slide deck still calls it momentum.

Nobody up there gets laid off for missing. The people who get cut are the ones who actually build the product: developers, tooling, designers, the folks who keep the factories and seasons on track. Meanwhile the stock is trading where it was over a decade ago and every quarter gets a new acronym instead of a new idea.

You don’t cost-cut your way back to being Nike. You win with product people want and a culture talent wants to stay in. Leadership has spent years torching both.

Stop renaming the problem. Fix it.

Finally had time to read the Q3 earnings report after spending 12 hours a day in Walmarts trying to improve first time pick rate and donating what’s left of my lower back to retail.

Beat revenue. Beat EPS. International is rolling, snacks are improving, and Gatorade is doing its part.

Then we lowered the full year outlook because apparently commodities didn’t get the memo.

Basically, we covered the spread in Q3, hammered the under on the rest of the year, and my lower back has entered the transfer portal.

Made billions but can’t even give 5 hrs OT to struggling depts during this peak season due to layoffs.

• Total revenues for the third quarter 2026 increased 6% to $73.7 billion
• Shareholders' net income for the third quarter 2026 was $1.4 billion, or $5.47 per share
• Adjusted income from operations' for the third quarter 2026 was $2.1 billion, or $7.98 per share
• Increasing 2026 outlook for adjusted income from operations' to at least $30.60 per share?
• Hosted 2026 Investor Day, introducing the "Lead to One" vision, setting long-term financial targets, including 10%-14% adjusted EPS CAGR and $50B in cumulative operating cash flow through 2030, and announcing 'Accelerate to One" multi-year $3B modernization and productivity initiative

https://www.fool.com/investing/2026/11/05/why-oracle-stock-is-sinking-today/

The political squeeze resulting from flipped house and senate is the final straw. Oracle and Coreweave will be the first two dominoes to fall.

Does anyone really still believe the BS that OpenAI or Oracle is "too big to fail"? That purported government backstop vanished this week (not that it ever really existed in the first place)!

https://www.investing.com/analysis/oracle-buybacks-gone-bad-and-special-market-trading-update-200690992

But seriously, WTF does Warren Buffett know?

Re: stock buybacks over the last decade, and the reissuance this week-

"If it had saved the money for future investment instead of buying back shares, its credit rating would not be on the verge of a downgrade to junk, and it would not rely so heavily on dilutive equity issuance to fund its AI-related investments. Poor judgment designed to bolster the stock price a few years ago leaves the company in a precarious position today."

Wells Fargo has announced further job cuts, impacting 173 positions in Iowa and Virginia. These layoffs are part of a larger trend at the financial institution, which has reduced its workforce by over 10,000 employees in the first nine months of 2026. The company's actions come despite reporting strong earnings and revenue growth in the third quarter. These reductions are aimed at streamlining operations and focusing on future growth areas. Wells Fargo will provide severance and transition assistance to affected employees.

https://www.thestreet.com/employment/wells-fargo-announces-more-layoffs-as-workforce-shrinks-by-over-10000

FIS lowered its fiscal 2026 outlook on November 4, 2026, setting revenue guidance as much as $210 million below Wall Street expectations, about eight months after its CFO cited a "high degree of visibility." FIS shareholders who lost money may have the right to seek recovery.

NEW YORK, Nov. 5, 2026 /PRNewswire/ -- Fidelity National Information Services, Inc. (NYSE: FIS) shares fell after the Company set fiscal 2026 revenue guidance of $13.45 billion to $13.51 billion, which is $150 million to $210 million below the roughly $13.66 billion analysts expected. If you lost money on FIS stock, you may have the right to seek recovery, and those rights can be subject to time limits. Shareholders who suffered losses are encouraged to submit their FIS loss information for review . You may also contact Joseph E. Levi, Esq. via email at jlevi@SueWallSt.com or by telephone at (888) SueWallSt.

On February 24, 2026, during the Company's fourth-quarter 2025 earnings call, CFO James Kehoe said: "Altogether, we have a high degree of visibility, 70% of the cost savings have already been actioned and a majority of the improved product mix was already sold in 2025." Approximately eight months later, on November 4, 2026, FIS lowered both its full-year revenue and adjusted EPS outlook, reducing its adjusted EPS guidance to $5.82–$5.89 from its previous range of $6.15–$6.24.

SueWallSt notifies investors of a pending investigation into potential securities law violations on behalf of FIS shareholders. Investors who already sold their shares at a loss may still be eligible. There is no cost to have your losses reviewed.

https://www.prnewswire.com/news-releases/fis-shareholder-investigation-suewallst-notifies-investors-of-potential-securities-claims-involving-fidelity-national-information-services-302930334.html

Four filings in one morning — this is the final housekeeping.

Filing the restated 10-K and all three 2026 quarterly 10-Qs simultaneously on a Friday morning is not routine. Companies don't do this unless they are clearing every outstanding SEC obligation at once before a major event. The restatement work has been done, the auditors have signed off, and they needed all of it filed and clean before the next step. That next step is the Chapter 11 petition.

The going concern disclosure

The restated 10-K now contains the formal language: "substantial doubt about our ability to continue as a going concern." This is not buried language — it's a required disclosure that accountants and auditors insist on when a company cannot demonstrate it will survive the next twelve months under its current structure. It was absent from the original filings, and the restatement added it. That addition alone tells you everything about where the company stands.

The numbers tell the story

Revenue is declining — $2.0 billion in Q3 2026 versus $2.1 billion a year ago, roughly 5% down. Full year 2025 revenue was $8.59 billion versus $8.95 billion in 2024. The business is shrinking steadily.

The company took a $5.9 billion impairment charge on cable franchise rights through the first nine months of 2026. This is non-cash, but it's the company formally telling the SEC and investors that its cable franchises — the licenses to operate in its service territories — are worth billions less than previously carried on the books. That's a profound admission about the long-term value of the core asset.

The net loss for the first nine months of 2026 is $5.34 billion. For context, the full year 2025 loss was $1.44 billion. The losses are accelerating dramatically.

The debt reclassification is the most important technical signal

At December 31, 2025, essentially zero of Optimum's debt was classified as current (due within 12 months). As of September 30, 2026, $6.37 billion is now classified as current. Under accounting rules, debt gets reclassified to current when management concludes it will come due within a year — either because of actual maturity dates or because covenant violations or restructuring events are expected to accelerate it.

This reclassification is the accountants formally acknowledging in the balance sheet that $6.37 billion is coming due imminently. Total debt is $26.8 billion. Cash on hand is $1.1 billion. The math is not resolvable outside of restructuring.

Total stockholders' deficiency is now negative $7.37 billion — meaning liabilities exceed assets by $7.37 billion. The company is deeply balance-sheet insolvent.

Customer losses confirm the operational pressure

Total customer relationships were 4.33 million at end of 2025, down from 4.55 million in 2024 and 4.74 million in 2023. The company has lost roughly 410,000 customers in two years — about 9% of its base — and the trajectory is not improving. This is the operational backdrop against which the debt restructuring is happening.

Why file everything today?

Chapter 11 debtors are required to be current on all SEC filings. If Optimum filed its petition while four filings were outstanding, it would create complications. By getting everything current this morning — the 10-K restatement, Q1, Q2, and Q3 — they have satisfied that requirement. The legal team at Ropes & Gray almost certainly had a checklist, and "complete all outstanding SEC filings" was on it.

What comes next

The 10-Q filing obligation is now satisfied. The restatement is complete. The going concern language is in the public record. The Special Committee has been formed. The creditor litigation is ongoing and will be resolved through the RSA. The Wall Street Journal reported last week that a deal is near.

Every prerequisite for a Chapter 11 filing is now checked. The question is no longer whether — it's which weekend. This weekend remains the highest-probability window.

Qualcomm incurred $332 million in restructuring charges during its fiscal year 2026, a significant increase from $39 million the previous year. These costs were primarily attributed to severance payments as the company reshapes its business. The majority of these expenses occurred in the final quarter of the fiscal year. This financial disclosure coincides with plans for further workforce reductions following annual employee reviews. Despite these cuts, the company's overall employee count increased year-over-year.

San Diego, California

https://www.calcalistech.com/ctechnews/article/8x75ackbs

What is everyone’s take on the recent earnings announcements? It sounds like they are holding their own but I didn’t see anything to justify the stock run up, unless I missed something.

Non-GAAP EPS came in at $0.70 and beat the Street. Public cloud ARR hit $700M, up 11%. Adjusted free cash flow $96M. Total ARR still climbing. Recurring is 90% of the business. SM and SA reaffirmed the full-year ARR and cash-flow outlook and raised EPS guidance. That’s what happens when leadership actually leads.

A leaner company is a healthier company. Some people left. That’s not a tragedy, it’s how you fund AI and keep the people who produce. If you’re still here, congratulations: you got the easier assignment. Do the work. Raise your output. Stop confusing a performance bar with cruelty.

While half this forum practiced fortune-telling, the ELT steered the company and the results showed up on schedule. Remarkable how often the loudest voices had the least to show for it. Work harder. It’s not complicated, and it never was.

Beat earnings, stock price up. Is aloha next legit or is this a dead cat bounce?

Yep, the POS is circling the drain.

https://seekingalpha.com/article/4962446-oracle-the-party-is-almost-over

Curious what the market is going to make of yet another quarter of declining revenue at OpenText. It doesn't seem like worldwide sales leadership setting strategy has been successful. TC has had several years to turn things around. Hasn't happened. Why is he still here??

14 cents a share. Investors expected 25 cents a share. At this point in time, I’m shocked investors expected anything above a zero. Is this the best Hertz can do on their only profitable quarter? How’s Gilly Bean still employed?

This is coming from a guy who used to work at Qualcomm. Qualcomm's third attempt at data centers... apparently the first two weren't enough to teach us that data centers are harder than Investor Day slides.

https://www.cnbc.com/video/2026/11/04/qualcomms-data-center-business-barely-offsetting-losses-in-smartphones-seaports-jay-goldberg.html

Products were moved out of core business units and into non core units mid Q. In other words, as q1 progressed and it became clear that core business units were not going to show any growth because of poor performing products, those products were taken out of the core business and relassified as non core. So core businesses did not grow.

The honest cross check is the stuff that can't benefit from the shell game. Total revenue was down 4.0 % year over year and ARR (recurring revenue, subscription and support contracts) was down 3%. License revenue down 8% and professional services down 11%. So all three non cloud pieces fell at once. Cloud grew, but it is still less than half the total.

Bottom line is $1,237M vs $$1,288M a year ago. Open Text continues to shrink despite the multi-million dollar investment in the new GTM model.

Another trick- showing total revenue at negative - 1.7% which is constant currency ex divestiture figures not the actual reported -4.0.

We wiped the floor with the competition again, great numbers reported

So the company is offering another voluntary resignation program in Mike Bakers area. I think we all knew this would happen again based on increased use of AI as well as the poor financial state of the company. More information is supposed to be made available today.

Lumen Technologies, Inc. (NASDAQ:LUMN) reported third quarter 2026 results that fell short of analyst expectations, though shares rose 1.3% in after hours trading and after closing 5.89% lower in the regular session.

https://www.investing.com/news/earnings/lumen-technologies-posts-widerthanexpected-q3-loss-per-share-revenue-miss-93CH-5001244

I expect exactly nothing but layoffs. Profit, loss, it doesn't matter. They'll find a reason to lay us off.

The Web3 industry is experiencing significant job cuts, with many companies citing AI as the primary reason for layoffs. However, a substantial portion of these companies admit that financial pressures are the true underlying cause. This trend is reshaping the employment landscape across various sectors, including technology and finance. The rapid and severe nature of these layoffs has left many employees blindsided and struggling to find new opportunities. The industry's future viability is being questioned as these challenges persist.

United States

https://www.panewslab.com/en/articles/01a1a4a3-593f-7285-ae7d-f74c0fa127ec

Brockton is facing a significant financial shortfall of $18 million. City leaders will use depleted reserves to approve tax bills. This action is a temporary measure to address the immediate budget gap. Officials have warned that layoffs and service cuts are now being considered. The city is scrambling to find solutions to its severe financial problems.

Brockton, Massachusetts

https://www.enterprisenews.com/story/news/local/2026/11/04/brockton-budget-crisis-deficit-pensions-troy-clarkson-mayor-moises-rodrigues/92054897007/

Mass General Brigham's CEO sent a vague email to employees acknowledging urgent financial challenges. The communication offered no specific details about the required improvements or workforce changes. This follows recent layoff announcements and precedes a planned nurses' strike. Employees and union leaders expressed concerns about a lack of transparency and potential negative impacts. The health system declined to comment on the criticism.

Boston, MA

https://www.bostonglobe.com/2026/11/03/business/mass-general-brigham-layoffs/

Circle, the issuer of USDC, reduced its workforce by approximately 5% during the third quarter. This action was disclosed in the footnotes of the company's financial statements. The company incurred $9.1 million in restructuring expenses related to these layoffs. Despite these costs, Circle reported a net income of $226 million from continuing operations. The workforce reduction aimed to better align the organization with strategic priorities.

https://bitcoinfoundation.org/news/companies/circle-cuts-5-of-staff-despite-226m-in-q3-net-income/

It's a blood bath for Dell today

Down ~20% while the stock markets are soaring. You go girl!!!!

Not looking good for today.We might hit 2010 or older prices. This is abysmal leadership. Stephanie, Kelly, Bob all need to be gone today. Looks like it is the CFO to be the first out. Time to cash out his millions and leave. Interestingly he had the same stock price fall at his last job and FIS fired him. Now we get to hear Stephanie spin it once again and the board will kiss her feet and do nothing. What a joke of a leadership by the board and C suite.

In the deregulation and AI buckets, laying people off. Which by the way, hasnt really helped with non interest expenses much. It certainly hasnt helped top line growth. And we keep missing earnings expectations.

I wonder how it will turn out now. Elizabeth Warren is probably firing up her Copilot Subpeonas right now.

Great to see the financial solutions carrying the day (no doubt due to Christ F relationships) too bad merchant can’t carry their weight.

Well wall street has realized the situation is terrible.

We know what to expect in January...its every January.

Is that too much to ask for?