Markets
markets
Luke Kawa

Nvidia isn’t getting much credit for a recovery in its China business

Nvidia has talked a ton about the importance of accessing the Chinese AI market — especially after effectively getting locked out after export restrictions were enacted in mid-April.

That talk seemingly paid off: the chip designer has regained the ability to send its H20 chips to the world’s second-largest economy in exchange for sending 15% of revenues generated from those sales to the US government.

Already, those forgone sales have caused full-year revenues to be $10.5 billion lower than they otherwise would have, per Nvidia’s management, but it doesn’t seem like the company is being given much credit for this renewed access.

On the one hand, it appears analysts never fully incorporated a full loss of its H20 business into their forecasts. Or more likely, they did, but thought it would be outweighed by booming demand for AI chips elsewhere. Nvidia’s fiscal year sales estimates never went down by anything close to $10 billion after that export ban was put in place.

But despite delivering a Q1 sales beat and the investing world receiving reassurances from every hyperscaler that the AI boom is still going strong, Nvidia’s fiscal year sales estimates only recently surpassed where they were on April 15, right before export restrictions on the H20 came to light.

So some combination of...

...are all seemingly at play here.

It’s noteworthy that despite being much, much smaller than the $4 trillion chip designer, AMD’s full-year sales estimates are up by more than Nvidia’s since those export restrictions were initially enacted in mid-April. Of course, that doesn’t just reflect any enthusiasm over AMD’s sales to China, but also optimism over the prospects for AMD’s new AI chip.

AMD, for its part, did not include any revenues from sales to China in its most recent quarterly guidance, but management had a good reason: export licenses for its MI308s hadn’t been granted at the time.

That’s not the case for Jensen Huang and co. as Wednesday’s much anticipated earnings report and conference call await.

More Markets

See all Markets
markets
J. Edward Moreno

Molina implodes after earnings miss, gloomy guidance

Molina Healthcare tanked after it reported earnings results that missed Wall Street expectations and gave disappointing full-year guidance.

For the last three months of 2025, Molina reported:

  • Adjusted losses per share of $2.75, compared to the $0.34 earnings per share analysts polled by FactSet were expecting. The company said about $2 per share of its earnings miss was attributable "retroactive premium adjustments attributable to the Company’s Medicaid business in California and ongoing medical cost pressure in Medicare and Marketplace.

  • Revenue of $11.3 billion, compared to the $10.8 billion the Street was penciling in.

  • A medical cost ratio of 94.6%, higher than the 93.1% analysts expected.

For the full year in 2026, Molina expects:

  • Adjusted earnings per share of at least $5.00, compared to the $13.66 analysts were expecting. Molina said it guidance takes into account ongoing losses in its traditional Medicare Advantage Part D business, which it now plans to exit in 2027.

  • Revenues of about $42.2 billion, compared to the $46.6 billion analysts had penciled in.

  • Its medical cost ratio to sit at 92.6%, while analysts had expected 91.4%.

Health insurers have been under pressure for the past year amid rising health costs. Molina, one of the largest providers of ACA marketplace plans, has taken a hit as tax credits for the program lapsed in January.

Molina's report also dragged down competitors including Centene, which is also a major provider of ACA plans and reports earnings Friday morning.

Read more
Bloom Energy Reports earnings

Bloom Energy surges after topping expectations for sales, EPS

Here’s how the print looked at first glance.

Matt Phillips25m
markets
Max Knoblauch

Roblox surges as it guides for stronger-than-expected full-year bookings, touts AI vision

Kid-centric gaming platform Roblox reported its fourth-quarter results after the market closed on Thursday. Its shares surged more than 20% in after-hours trading.

For the full year ahead, Roblox guided for bookings of between $8.28 billion and $8.55 billion, which would represent annual growth of 22% to 26%. That’s well ahead of Wall Street’s estimates: analysts polled by FactSet expected $8.03 billion.

Roblox forecasts Q1 bookings to land between $1.69 billion and $1.74 billion, compared to the $1.7 billion Wall Street consensus.

An average of 144 million daily users logged onto Roblox in its fourth quarter, beating estimates of 138 million and up 69% from last year. The platform paid out $1.5 billion to creators last year, up from $922 million in 2024.

Roblox engagement surged in 2025, a year marred by several legal issues surrounding child safety on the platform. Late last year, analysts began to warn that some of its most popular titles were past their peaks.

Recently, shares of the company have dropped on investor fears of Google’s Project Genie AI tool, which generates playable worlds. As of Thursday’s close, Roblox had shed more than $10 billion in market cap since Project Genie was launched. On Wednesday, Roblox appeared to answer Genie’s release with the open beta launch of its own “4D” genAI tool. Roblox’s tool lets users generate objects made up of multiple working parts (ex.: a drivable car with spinning wheels) as opposed to static 3D objects.

In its letter to shareholders, Roblox said it was “innovating aggressively in AI to accelerate the creation of content, improve the safety of our platform, and fuel ongoing user engagement, discovery and monetization improvements.”

Jon Keegan
47m
Amazon slides as it misses on Q4 earnings, gives downbeat profit guidance

The tech giant also forecast it would spend $200 billion on capex in 2026.

New York Times DealBook Summit Held In New York City
Tasha Matsumoto
48m
Stocks erase 2026 gains as tech and crypto continue to slide; volatility rises

Investors continued to shun risk amid rising volatility.

GREEN BAY, WISCONSIN - DECEMBER 07: Caleb Williams #18 of the Chicago Bears walks off the field after a loss to the Green Bay Packers at Lambeau Field on December 07, 2025 in Green Bay, Wisconsin. (Photo by John Fisher/Getty Images)

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.
©2026 Sherwood Media, LLC