| TER |
Report |
Q2 Revenue |
BEAT |
pred ~$1.25B vs. cons $1.21B |
MEDIUM |
| TER |
Report |
Q2 Non-GAAP EPS |
BEAT |
pred ~$2.15 vs. cons $2.05 |
MEDIUM |
| TER |
Report |
Q2 Gross Margin |
IN-LINE |
pred ~59.0% vs. cons 58.5% |
MEDIUM |
| TER |
Guide |
Q3 Revenue guide |
LOWER |
guide ~$1.05B vs. cons ~$1.12B (2026Q3) |
MEDIUM |
| TER |
Guide |
Q3 Non-GAAP EPS guide |
LOWER |
guide ~$1.78 vs. cons ~$1.88 (2026Q3) |
MEDIUM |
| TER |
Guide |
FY2026 revenue framing / H2 weighting |
UNCHANGED |
reaffirm ~$4.4B, H1-weighted 55-60% vs. implied cons ~$4.4B (FY2026) |
MEDIUM |
| TER |
Guide |
H2 memory/HBM + Q4 visibility color |
UNKNOWN |
guide ~$50M merchant GPU / limited Q4 visibility vs. cons priced for firmer H2 (2026H2) |
LOW |
| TER |
Return |
Day-1 residual (stock − beta × S&P 500) |
+3.0% |
— |
LOW |
| TER |
Return |
5-day cumulative residual |
+0.5% (FADE) |
Q2 likely beats and positioning is heavily de-risked (stock -31% from the June 30 peak, -7% into the print), setting up a relief pop on the headline. But the out-period math works against follow-through: the H1-weighted 55-60% framing plus a still-opaque Q4 implies soft sequential Q3/Q4 guides, so sell-side trims out-quarter estimates even after the beat. The initial bounce fades as the 'strong but lumpy, can't see Q4' message reasserts on a high-multiple name. |
LOW |