Cloudflare reported first-quarter 2026 revenue of $639.8 million, a 34% year-over-year increase that cleared the Street's $622 million consensus with room to spare. Non-GAAP earnings per share of $0.25 beat expectations of $0.23. Non-GAAP net income reached $94.0 million; free cash flow came in at $84.1 million, or 13% of revenue. By conventional measures, the quarter was … [Read more...] about Cloudflare Grows 34%, Cuts 1,100 Jobs, and Watches Its Stock Decline 19% in After-Hours Trading
Briefing
AI Didn’t Create the Layoffs. It Just Made Them Speakable.
Marc Andreessen posted something on Wednesday that most people in management already know and almost none will say publicly: large companies have been overstaffed by 2x to 4x for decades, and AI is functioning primarily as the socially acceptable reason to finally address it. The tweet was brief, but the claim it contains is sweeping in a way the coverage has largely missed. … [Read more...] about AI Didn’t Create the Layoffs. It Just Made Them Speakable.
AMD +20% Premarket — Sector Repricing, Not a One-Stock Event
The approximately 20% premarket move in Advanced Micro Devices is disorienting if you read it as an earnings reaction. It is entirely legible if you read it as the terminal leg of a sector-wide multiple reset — one that Intel initiated, AMD is now confirming, and the market is mechanically completing. Understanding the sequence matters more than understanding the … [Read more...] about AMD +20% Premarket — Sector Repricing, Not a One-Stock Event
GameStop Bids $56 Billion for eBay
GameStop has submitted a formal acquisition offer for eBay, proposing to purchase all outstanding shares of the e-commerce platform at $125 per share in a 50-50 cash-and-stock split, valuing the transaction at approximately $56 billion. The bid represents a roughly 20% premium over eBay's most recent closing price. The offer is structurally anomalous. GameStop's current … [Read more...] about GameStop Bids $56 Billion for eBay
Apple Delivers a Power Quarter as Growth Reaccelerates Across the Board
Apple Inc. just reminded the market why it still sits at the center of global tech gravity. The March quarter numbers weren’t just “good”—they were structurally strong in a way that signals momentum rather than a one-off spike. Revenue came in at $111.2 billion, up 17% year over year, while diluted EPS climbed 22% to $2.01. Those are not the kinds of growth rates you typically … [Read more...] about Apple Delivers a Power Quarter as Growth Reaccelerates Across the Board