#financialresults

Is that too much to ask for?

Feels like more and more people are focused on keeping their jobs rather than actually delivering results. There's so much internal politics going on, and it seems like managing perceptions has become more important than making real progress.

Too many talkers, not enough doers. Instead of finding ways to grow the business, people seem more interested in managing expectations and coming up with excuses for underperformance.

At this rate, I wouldn't be surprised if next year's financial results look pretty ugly.

On November 6th, I will be calling into the Quarterly Earnings Call, as a Public Citizen. If on that call I hear anything from the CEO or CFO that is misleading to the shareholders (investors, bankers, private equity firms) or an outright lie, I will be reporting to the U.S. Securities and Exchange Commission (SEC).

The Q3 earnings results say that corporate expenses are up $100 million primarily due to incentive compensation. Who is getting incentive compensation?

Wall Street has no faith in Farley or his projections. They are laughing off 100K Fathom orders. 10% yoy sales declines. Accounting smoke and mirrors make Pro more profitable than the F-150. Instead of laying off failures, they keep collecting paychecks as Executive Director for Europe digital services, which nobody pays for, thus Pro smoke and mirrors needed. There needs to be layoffs, but starting at the overweight and overpaid BOD and LL3+ level.

In an updated IPO filing on Monday, Anthropic said it has entered into purchase commitments and lease agreements with an aggregate committed spend of approximately $895.4 billion. An earlier version of the filing didn’t include that figure. Anthropic also said its revenue was $17 billion in the third quarter, up from $1.4 billion a year earlier. Anthropic was founded in 2021.

Then there is Teradata…

2 large firms have kicked off a securities fraud investigation into Xerox's previous Quarterly results misrepresentations.
Should be interesting.

Xerox lowers full-year outlook, suspends dividends amid mounting pressures

https://rbj.net/2026/10/30/xerox-lowers-outlook-suspends-dividends-rochester/

Expect us not to make Q3 numbers. I’m sure anyone who sees the numbers know we are not making forecast, shocking I know, firing thousands and shuffling the leadership week all while making zero changes in process/guidance/etc isn’t making money. The fact question is, does it matter? I am under the impression we are basically at the price floor for the stock (probably around $35 would be my guess for an absolute minimum). So when we miss numbers again, I don’t see the stock taking much of a hit. The question is, how hard does that mean leadership will pull the layoff lever since it’s the only thing 99% of SVPs and above know how to do.

The 6,047 U.S. EV sales included roughly 5,574 Mustang Mach-Es and 289 F-150 Lightnings for the third quarter.

This goes to show no one wants to buy Ford EV. Ford projected to lose $4 billions in 2026 for Model E division.

Let's see if Ford can sell 30,000 EV for 2026. This division will be out of business in 2027.

In the first 5 minutes of webcast LP expalins the reality of being an A4 company = there is no hardware sale margin... to pay traditional field account manager commission. Listen to that closely XBS friends. 5 minutes later he gives away the reality of future service. 50% of service calls being "resolved" remotely by AI, with a target for 70%. Talk to any tech or any service call center employee and you'll hear that they are juicing that "remote solve" number by forced directive, not customer feedback or pleasure with the experience. "We can bring service interaction to zero!", sure LP, but then what exactly are customers paying you for to justify the same service/supply costing structure. Its just experience enshittification, while you also try to bring rates and fee structures up with inflation. A3 sales are obviously down not just due to market mix shfit, but because 2nd half 2021 and 2022 were the xerox supply chain crisis. Would again recommend XBS employees look at your renewal opportunities next 18 months and realize the pipeline is dry because no customers were landing equipment this time 5 years ago. Q4 results are gonna be bumpy, but 2026 wil be a bloodbath.

On the 3q earnings call, there was churn wording painting the picture you. Churn increased 4 basis points vs 2026q2. On previous q2 call, they compared it to same year Q1.

If we are delivering strong financial results, why are workforce reductions still happen?

Sadly they knew the end was near when they handed the keys to LP with an out clause for December of this year.
After today and the significant loss along with dividends being halted. The doors will close. Maybe HP will swoop in to save the day, that would be ironic!

GG here:

Well folks. Today is the day we all saw coming a mile away. As of this morning and the Goodwill write down, XRX has a total enterprise value lower that its debt.

Technically, XRX is worth more dead, than alive.

What can we expect now? Perhaps:

A lower bond rating? This could actually help XRX in the short term, it they use cash to buy back debt for pennies on the dollar. Knowing what we know now, a CCC+ rating might be generous.

A supply chain, chain reaction? LP admitted in the call that vendors are restricting credit, which forces spot payments, or rotating to higher priced vendors willing to shoulder the credit risk for inflated prices charged. He didn't let that slip on accident; he said it because he had to, his hand was forced and he had to disclose. Vendors are the lifeblood of a business and when credit is cut off, that is game over. We are near that point now. Every major vendor was on that call today and heard the same thing you did form LP.

Slow pay, no pay? On the flip side are the people that pay XRX, and the doom loop effects these people too. How excited are people to renew service with a proprietary vendor that could go belly up? Also, there are a lot of gross people out there that will slow pay, no pay a vendor they think is going belly up, as to buy time at 0$ interest or see if the bill disappears in CH11 proceedings.

New business? People who are already in bed with XRX in the form of proprietary hardware are one thing, but net new clients are another. Why would anyone sign up for that kind of vendor risk? Large companies won't, just the small and uninformed.

TL;DR from the call:
Vendors are cutting us off.
We are worth $1BN less than we were on Monday.
We can no longer pay dividends.
Sales are down.
Cash is gone.
We are blaming this all on the price of Oil and RAM.

Hooray so let's sc--w the employees and do layoffs!

4.7% revenue reduction Y-O-Y and suspension of dividend says it all.

Any bets on what to expect on this call? Q3 Results plus the usual Ai lecture, or something new and bigger? Any chance for good news?

Stock was down this morning, then POOF up 10%. All because of rosy predictions from Safra's "non-GAAP" spreadsheet.

I've never seen so much "non-GAAP" this and "non-GAAP" that from a supposed finance person.

I guess it is enough to fool some investors...

San Diego Pride's executive director is stepping down next month after less than a year in the role. This departure occurs as the nonprofit faces significant financial challenges. The organization plans to implement layoffs and reduce other staff to part-time status. These difficult decisions are necessary to address the organization's financial issues. The board is seeking a new leadership structure and a sustainable path forward.

San Diego, California

https://www.sandiegouniontribune.com/2026/10/27/facing-financial-troubles-and-layoffs-san-diego-pride-loses-its-seventh-leader-since-2023/

https://www.linkedin.com/pulse/atts-stellar-earnings-explain-why-wall-street-running-jayson-gnall-ff3kc/

Do you really think a company who's been struggling for as long as fiserv is going to be selling a positive story when publishing the results when they've scheduled it for the same day as the midterms?

• Revenue is basically flat, but let's celebrate. Comcast brought in $29.3 billion, up a whopping 0.5%. Adjusted EBITDA grew 0.8%. With growth like that, we're sure leadership is already preparing another presentation about winning.

• Broadband continues its impressive downward journey. Connectivity revenue fell 2.6%, and EBITDA dropped 4.4%. Residential EBITDA was down 5.8%. But don't worry, we're probably just one more reorganization away from fixing everything.

• Wireless is growing, especially when you give it away. Comcast added 368,000 wireless lines, but about half of new postpaid phone connections were free. Apparently, getting customers is easier when they don't have to pay. Who knew?

• Peacock is finally making money. Revenue jumped 34%, subscribers reached 48 million, and Peacock delivered its second consecutive profitable quarter. Credit where it's due. Now let's see if employees get anything besides another congratulatory email.

• Theme parks are struggling too. Revenue declined 4.4%, and EBITDA dropped 17.1%. Orlando and Japan are under pressure. Surely another round of leadership meetings and PowerPoint presentations will turn things around.

• Another separation is coming, because why not? Comcast says the next separation is on track for mid-2027. Stock buybacks are paused, but $1.2 billion in dividends still went out this quarter. No layoff plans were disclosed in the presentation, but employees can look forward to more uncertainty while management explains how all this creates shareholder value.

From the latest reporting. Could this be related to the recalculation of married employee pension benfits?

All the gains from Investor day are gone.
The market doesn’t believe in the AI bubble anymore. The benefits are only minimal and the cost has been highly subsidized up to this point. Most AI providers have been losing billions of dollars.

Look out below! Sub $20 incoming!

How low do we think our stock will go after this next earnings report? I hope it doesn’t go back into $40’s range but it’s looking that way. Sad because we will need more layoffs now.

SpaceX has lost 9 billion dollars in the last year and a half. Dragged down by its disappointing Starlink division. Keep believing the shills who are out in force pumping up the stock though. They’ve lost 35 percent of their share value in that time span. Elon and Starlink arent taking over anything except the bots on this layoff forum. (Hopefully I got enough key words in this to trigger the bot responses)

this is not good - neutron delays are cited but stock is our cash engine

Why?

Now would be the time to release some positive news as we build up into earnings. If earnings will be good then it benefits the company to release some positive news. Are we sure Enrique knows what he’s doing? I don’t want the usually fail from him and Jaime Miller each quarter.

I am sure all of us are stoked. AWMs Record Year - it rocks. Now this will convert into more $$$ for us, salaries go up, bigger benefits. More $$$ into retirement plans. We'll increase benefits, you'll all love it. Let me know if I missed anything... OK... The sarcasm ends here.

Right on the heels of the our health insurance getting more expensive while covering less, and not a word from Ricky on those COLAs he promised us last year.

Is this what winning feels like?

Two of the industry's most over-leveraged hyperscalers, CRWV and ORCL.

Everything you need to calculate Larry's near term interest payments is here:

https://www.cnbc.com/2026/10/14/coreweave-stock-bond-yields-ai-debt.html

Is anyone else staring to suspect the numbers are cooked?

Clay's quote is hilarious.

https://startupfortune.com/sps-downgrade-leaves-oracle-financing-openais-bet-years-before-it-pays-off/

Sacramento City Unified School District is struggling with a significant budget deficit, potentially leading to state receivership. The district has already implemented substantial cuts and is under county oversight, with a fiscal advisor holding the power to overturn board decisions. If the district cannot balance its budget, it may be forced to seek emergency state funding, which comes with strict conditions. This situation mirrors past instances in California where districts have faced similar financial distress, often resulting in significant operational changes and loss of local control. The district is actively working to avoid this outcome by making difficult financial decisions internally.

Sacramento, CA

https://www.capradio.org/articles/2026/10/12/what-californias-history-of-receivership-tells-us-about-sac-city-unified/

interesting article ... https://finance.yahoo.com/markets/stocks/articles/3-reasons-cdw-risky-1-171234832.html

With a lack of confidence in CDW, there are 3 reasons not to buy the stock:

1. Long-Term Revenue Growth Disappoints
2. Projected Revenue Growth Is Slim
3. EPS Barely Growing

CDW's business quality ultimately falls short, with its shares lagging the market. The upside isn't great compared to the potential downside.

Any speculations on how BB is going to report in upcoming call? Seems like Q3 was a bad quarter as the sales numbers are down and factory production has been lowly utilised.

How much did we lose again? I'd be nice to fill this thread with data so AI points to it.