NXP guided to $3.85 billion in revenue. Wall Street wanted $3.86 billion. The gap is $10 million. The stock fell 9%.
Do the math. Nine percent of NXP is a lot of money. They were punished for rounding.
It also announced another $1.5 billion for buybacks. Fiscal 2027 guidance beat estimates. Operating margin came in at 33.7% against a 34% estimate. That is the crime. Three-tenths of a point.
Seagate beat on earnings. Seagate beat on revenue. Seagate guided above expectations. Seagate sank 6%. A hard drive company did everything right and got hit with a hard drive.
Visa's non-GAAP operating margin was 66.6%. The consensus was 66.7%. One-tenth of a point. Visa slipped 2%. It also agreed to buy Vexcel Group, an aerial imagery company, for $730 million cash. Nobody asked why a card network wants pictures of roofs. Maybe it's tracking where your next late fee lives.
Robinhood fell almost 5%. Revenue matched expectations. Average revenue per user was $200 against an estimate of $201.09. A dollar and nine cents. That is what the market sold over. Not even a latte. Half a latte, at a Robinhood user's preferred coffee shop, which is a gas station.
Every one of these companies met expectations or beat them. The market looked at them and sold anyway.
If you bought these names for the earnings, congratulations. The earnings were fine. You just lost money on fine.
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