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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. 26 Oct 2026 - - - #### Here's a Q3 earnings season scorecard after week II Source: Facstet [#earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) ![Here's a Q3 earnings season scorecard after week II](https://blog.syzgroup.com/hubfs/1792990548461.jpg) ![Here's a Q3 earnings season scorecard after week II](https://blog.syzgroup.com/hubfs/1792990548461.jpg) #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [earnings|](https://blog.syzgroup.com/syz-the-moment/tag/earnings) [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) #### [Anthropic’s numbers challenge the “AI cash furnace” narrative.](https://blog.syzgroup.com/syz-the-moment/anthropics-numbers-challenge-the-ai-cash-furnace-narrative?hsLang=en) According to figures cited from its IPO filing, Anthropic now generates $2.08 in revenue for every $1 spent on compute, up from just $0.40 in Q1 2025. Revenue grew roughly 29-fold, while compute spending increased around sixfold. Products such as Claude Code are driving adoption, while more efficient models reduce the cost of each AI task. The cash flow figures are equally striking. In the first half of 2026, Anthropic reportedly generated: • $3.9 billion in operating cash flow. • $482 million in capital expenditure. • $3.4 billion in positive free cash flow. Even subtracting $2.2 billion in stock-based compensation leaves approximately $1.2 billion. Positive free cash flow does not establish accounting profitability. But these figures paint a very different picture from a company simply “burning cash like crazy.” Source: Shay Boloor **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 26/10/2026 [earnings|](https://blog.syzgroup.com/syz-the-moment/tag/earnings) [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) #### [$TSLA beat Q3 revenue and EPS estimates. But beneath the headline, the picture looks less convincing.](https://blog.syzgroup.com/syz-the-moment/tsla-beat-q3-revenue-and-eps-estimates.-but-beneath-the-headline-the-picture-looks-less-convincing?hsLang=en) → Automotive revenue: −3% → Operating income: −56% → Free cash flow: −62%. Robotaxis and Optimus offer upside, but execution is everything. Can Tesla turn AI ambition into profits? Tesla Q3 FY26: • Revenue flat Y/Y at $28.0B ($0.2B miss) • Gross margin 20% (+3pp Y/Y) • Operating margin 3% (-3pp Y/Y) • CapEx +110% Y/Y to $4.7B • Free cash flow -62% Y/Y to $1.5B • Non-GAAP EPS $0.48 ($0.03 beat) Key Updates: - Started providing Robotaxi rides using Cybercabs on September 3 in Austin - Optimus production began in Fremont on high-volume lines - Megafactory Texas began production, with planned capacity of 50 GWh Source: App Economy Insights, Thomas Bennett **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 22/10/2026 [earnings|](https://blog.syzgroup.com/syz-the-moment/tag/earnings) [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) #### [IBM is up nearly 10% today after reporting strong Q3 earnings, driven by AI that fueled profit and free cash flow growth.](https://blog.syzgroup.com/syz-the-moment/ibm-is-up-nearly-10-today-after-reporting-strong-q3-earnings-driven-by-ai-that-fueled-profit-and-free-cash-flow-growth?hsLang=en) The Trump administration invested $1B into the stock back in May. They’re up ~$120M on the investment Source: Insiderwave **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 22/10/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. [Discover more](https://blog.syzgroup.com/syz-the-moment) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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