Earnings live updates: On Holding beats Wall Street's estimates, Hims & Hers stock plunges after surprise loss

Published: May 12, 2026 11:17 AM • Updated: May 12, 2026 12:02 PM • Original source

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The pace of first quarter earnings reports eases this week as economic data takes center stage, but investors will still be on the lookout for results from a handful of big corporations.

So far this earnings season, S&P 500 companies have impressed market watchers by printing profits, even amid ongoing risks from the Iran war, and the index is on track for double-digit earnings growth. Reports from semiconductor companies last week underscored that the artificial intelligence boom remains a key market driver.

Kicking off quarterly results this week were reports from Constellation Energy Corporation (CEG), Barrick Mining Corporation (B), Hims & Hers Health (HIMS), and Plug Power (PLUG). Also headlining this week are Oklo (OKLO), On Holding AG (ONON), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Figma (FIG).

On Holding (ONON) beat the Street’s expectations across the board as consumers withstood macro-uncertainty and were willing to pay full price for the premium sneaker and apparel company.

On reported revenue of $1.07 billion, compared to Wall Street’s expectations of $1.06 billion. Adjusted earnings per share came in at $0.40, higher than the $0.35 the Street forecast.

“We couldn't have a better start to the year,” Caspar Coppetti, founder and co-CEO, told Yahoo Finance. He added that the company is “really bucking the trend” and that “what we're seeing is our premium strategy really working.”

Strong net sales in its apparel and accessories segments beat the Street’s expectations, but sneakers came in line with analysts' estimates.

Coppetti said that people are still willing to splurge despite uncertainty.

“For example, in the financial crisis or in the Euro crisis, consumers are maybe a bit more intentional on where they spend, but then they will spend on the things that they really like,” he said.

This marks the first report under founders Caspar Coppetti and David Allemann as co-CEOs. In late March, longtime executive Martin Hoffman announced plans to step down from his role on May 1.

Heading into the report, the stock had been underperforming, down around 27% year to date, but Coppetti was adamant that the company’s strategy would not change.

For 2026, the company raised its profitability outlook. It now expects gross profit margin to reach at least 64.5%, up from at least 63.0%. Adjusted EBITDA margin is also expected to be in the range of 19.5% to 20.0%, up from the previous range of 18.5% to 19.0%.

Hims & Hers (HIMS) stock dropped 8% in after-hours trading as the company swung to a loss as it pivots its weight-loss drug strategy.

The telehealth company reported a net loss of $92.1 million in the first quarter versus net income of $49.5 million in the same quarter a year ago. Hims & Hers posted a loss per share of $0.40, compared to Wall Street estimates for a $0.03 profit per share.

First quarter sales also missed estimates. Hims & Hers reported revenue of $608 million, a 4% increase year over year but below the $616 million that Wall Street analysts estimated.

The company recently limited access to its cheaper, compounded versions of GLP-1 drugs, which came under regulatory scrutiny, and has partnered with Novo Nordisk (NVO) to offer consumers the branded drugs.

“In the first quarter, we made a strategic pivot that expanded our assortment of branded GLP-1 products, and early demand signals show our consumer reach broadening meaningfully," CFO Yemi Okupe said in the release.

Plug Power (PLUG) stock rose 4% in extended trading as the hydrogen company made strides toward its goal of achieving profitability by the end of 2026. Plug Power builds and operates end-to-end hydrogen production systems for material handling, industrial applications, and energy markets.

In the first quarter, Plug reduced its adjusted loss per share to $0.08 from a $0.17 loss in the same quarter a year ago. Wall Street analysts were expecting a $0.10 loss per share.

Revenue increased 22% year over year to $163.5 million, far exceeding the $139.7 million in revenue expected.

“Our first quarter results reflect strong commercial execution and continued progress improving the underlying economics of the business and positions us to achieve our EBITDAS positive target in Q4 2026,” CEO Jose Luis Crespo said. “We exceeded internal expectations on revenue, delivered on our margin and EPS targets, and continue to strengthen our financial position. Our focus remains on execution and growth, driving efficiency, expanding margins, and converting our scale into consistent financial performance.”

Monday.com (MNDY) stock soared as much as 14% in early trading on Monday before paring gains to 4%.

Yahoo Finance’s Ines Ferre reports:

The company posted strong quarterly results and lifted its full-year forecast for both revenue and adjusted operating profits. The artificial intelligence work platform’s first quarter revenue grew 24% year over year, with a record $49 million in operating profits.

Wall Street welcomed Monday.com’s results as the company continues to incorporate AI into its offerings and navigates concerns that AI could disrupt its business.

The company has changed its core offering from a “work management platform” to an “AI work platform.”

The company highlighted growth in its AI-driven products and productivity within its own organization. “Since 2025, AI has driven a 32% increase in our output per developer,” co-CEO Roy Mann said during the company’s earnings call.

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