Earnings Today: Eli Lilly, Disney, Uber, Shopify, CVS Health, and AppLovin — August 5, 2026

A Packed Morning on Wall Street

Wednesday, August 5, 2026 is one of the busiest single-day earnings sessions of the entire Q2 reporting season. Six major companies are scheduled to release results, spanning pharmaceuticals, entertainment, ride-sharing, e-commerce, healthcare, and mobile advertising. Results from Eli Lilly, Walt Disney, Uber Technologies, Shopify, and CVS Health are all expected before the opening bell, while AppLovin reports after the close.

Together, these companies touch some of the most closely watched themes in the market: the GLP-1 drug boom, streaming profitability, autonomous vehicle competition, e-commerce growth, managed care cost pressures, and AI-powered advertising. A strong sweep of beats and raised guidance could add further momentum to an already strong earnings season, while any disappointments are likely to ripple across entire sectors.

Companies Reporting Earnings Today

Eli Lilly and Company (LLY) — Before Market Open

Eli Lilly is the marquee name of the day. The Indianapolis-based pharmaceutical company makes Mounjaro and Zepbound, the injectable GLP-1 drugs that have driven its rise to become one of the most valuable companies in the world. Analysts expect Q2 2026 adjusted earnings per share of approximately $6.55 on revenue of around $20.69 billion — representing year-over-year revenue growth of about 33%, according to AlphaStreet.

EPS estimates have been revised down sharply — dropping about 25.7% over the past 30 days — due to uncertainty around an expected acquired research and development charge tied to recent deal activity. The wide EPS estimate range ($5.28 to $9.08 across 21 analysts) reflects genuine uncertainty about one-time items. Revenue estimates, by contrast, are tighter.

In Q1 2026, reported April 30, Lilly beat revenue by 11.15% and topped adjusted EPS consensus by 25.90%. The company raised full-year 2026 revenue guidance to $82 billion to $85 billion and non-GAAP EPS guidance to $35.50 to $37.00.

The most critical data point today may not be the quarterly EPS itself, but the size of any full-year guidance raise. Goldman Sachs has argued that the magnitude of the guidance increase is the primary driver of post-earnings stock movement, modeling up to a $1 billion raise as justified. A thin raise — or none — could disappoint investors even if the quarter itself beats.

Also in focus: the early commercial trajectory of Foundayo (orforglipron), Lilly's oral GLP-1 pill approved April 1. Weekly prescriptions have been running near 20,000 — behind the pace of Novo Nordisk's competing oral pill in its early weeks. Lilly's stock fell 4.55% on July 30 to close at $1,154.97 heading into today's report.

The Walt Disney Company (DIS) — Before Market Open, 8:30 AM ET Webcast

Walt Disney reports fiscal third-quarter 2026 results (the quarter ended June 28) before the bell, hosting an 8:30 AM ET earnings webcast. Analysts expect adjusted earnings per share of approximately $1.88 on revenue of about $25.4 billion, per MarketBeat. Disney has beaten the consensus EPS estimate in each of the prior four quarters.

The primary investor focus areas are the trajectory of Disney's streaming business (Disney+), performance of domestic theme parks, and management commentary on CEO Josh D'Amaro's growth strategy, including intellectual property investment and technology advancement around storytelling.

Disney's streaming division turned profitable in 2024 and has been a key driver of the stock's recovery. Investors will watch whether Disney+ continues to expand its subscriber base and improve margins, and whether there are updates on the company's reported exploration of a free-tier streaming option.

Theme parks face some headwinds. Comcast's NBCUniversal reported in July that its Orlando parks saw lower attendance in Q2, citing higher travel costs related to oil price increases. Analysts want to know whether Disney World and Disneyland experienced similar patterns. Disney's full fiscal year 2026 adjusted EPS guidance is approximately $6.64, implying roughly 12% full-year growth.

Uber Technologies (UBER) — Before Market Open, 8:00 AM ET Conference Call

Uber Technologies reports Q2 2026 results before the open, with an 8:00 AM ET conference call. Wall Street expects adjusted earnings per share of $0.83 on revenue of $14.27 billion, based on 32 analyst estimates, according to AlphaStreet. That would represent year-over-year EPS growth of about 32% and revenue growth of roughly 13%.

Uber's stock is down about 14% year-to-date entering earnings, as concern about robotaxi competition has weighed on sentiment even as the company's core business has performed well. In Q1 2026, Uber reported gross bookings of $53.7 billion and added its 50 millionth Uber One subscriber. Q2 gross bookings consensus sits at approximately $57.2 billion.

Bank of America maintained a Buy rating ahead of the print, forecasting Q2 gross bookings of $57.3 billion and adjusted EBITDA of $2.77 billion. The bank's aggregated card data indicated that U.S. online transit and restaurant spending both rose about 9% year-over-year in Q2, suggesting solid underlying demand in both Mobility and Delivery segments.

The autonomous vehicle question will dominate the conference call. Uber recently announced robotaxi expansion plans with WeRide for commercial service in the Greater Zurich Region and Madrid. Management commentary on the autonomous vehicle landscape — and Uber's long-term positioning versus robotaxi competitors — will likely be the biggest market mover beyond headline numbers. Options traders are pricing in a roughly 7% post-earnings move, per EarningsWatcher.

Shopify Inc. (SHOP) — Before Market Open

Shopify, the Ottawa-based e-commerce platform, reports Q2 2026 results before the open. Consensus revenue estimates cluster around $3.43 billion to $3.51 billion — implying year-over-year growth of approximately 27% to 28%. Adjusted EPS consensus ranges from roughly $0.39 to $0.41, per ChartMill and Tickeron.

The company's own guidance called for high-twenties percentage revenue growth, which management issued at the Q1 2026 call. Q1 2026 showed revenue of $3.17 billion, up 34% year-over-year. The anticipated deceleration to the high-20s range is by design and is reflected in analyst models. Free cash flow margin is guided to the mid-teens range for Q2.

Investors will focus on gross profit margin trends, where Q2 consensus is about 47.7%, and whether Shopify's merchant ecosystem continues to expand across international markets and enterprise-tier customers. Operating expenses as a percentage of revenue are expected to improve sequentially to the 35 to 36 percent range.

CVS Health Corporation (CVS) — Before Market Open

CVS Health, one of the largest healthcare conglomerates in the United States, reports Q2 2026 results before the bell. Wall Street's consensus calls for adjusted earnings per share of approximately $1.85 to $1.87 on revenue of around $100 billion, according to AlphaStreet and MarketBeat.

CVS has been a consistent beater of estimates. In Q1 2026, the company reported $2.57 adjusted EPS against a $2.21 consensus — a 16.3% beat — and revenue of $100.43 billion, above the $94.99 billion estimate. At its May 2026 earnings call, CVS raised full-year 2026 adjusted EPS guidance to $7.30 to $7.50 from $7.00 to $7.20, according to Benzinga.

Key questions for investors include whether Aetna's medical cost ratio is trending in line with guidance, how pharmacy benefit management revenues are holding up amid industry pricing scrutiny, and whether cost management initiatives are on track.

AppLovin Corporation (APP) — After Market Close, 5:00 PM ET Conference Call

AppLovin, the mobile gaming and advertising technology company, reports Q2 2026 results after the close at 5:00 PM ET. Analysts forecast earnings per share of approximately $3.75 to $3.76 on revenue of about $1.94 billion, per multiple sources. The company has beaten EPS consensus in recent quarters.

AppLovin's AXON advertising engine has driven significant growth in its software segment, which carries higher margins than the gaming business. Investors will watch whether advertising revenue growth continues at a pace justifying the stock's premium valuation, and whether AppLovin's push into e-commerce advertising beyond its core mobile gaming clients is gaining traction.

Key Storylines to Watch

GLP-1 guidance revision: Lilly's full-year guidance raise is the single most important number today. A $1 billion or greater raise signals management confidence that volume is outrunning price erosion. Any less, and investors may question whether the GLP-1 growth story is entering a slower phase.

Streaming profitability: Disney's streaming results carry sector-wide implications. Whether Disney+ continues expanding margins and subscriber counts will inform the broader streaming investment thesis.

Autonomous vehicles: Uber is at the center of the robotaxi debate. Management commentary on partnerships, competitive positioning, and long-term strategy will shape how the market prices Uber's future alongside the robotaxi buildout.

E-commerce merchant health: Shopify's merchant growth and gross margin trends reflect the health of independent retail and online commerce globally.

Managed care costs: CVS Health's Aetna segment faces scrutiny on medical cost ratios. With the broader managed care industry navigating elevated utilization rates, investors want confirmation that costs are under control.

AI advertising monetization: AppLovin's AXON platform is one of the purest plays on AI-driven ad optimization. Its Q2 growth rate signals whether the mobile advertising rebound continues.

Market Impact

Eli Lilly's results will set the tone for the pharmaceutical and biotech sectors. A positive print with raised guidance could lift Novo Nordisk (NVO), which also reports today, and boost healthcare ETFs such as XLV and XBI. A disappointment could weigh on the entire GLP-1 investment theme.

Disney's report will influence media and entertainment stocks broadly, including Netflix (NFLX), Warner Bros. Discovery (WBD), and Comcast (CMCSA). Theme park operators will also be in focus depending on Disney's attendance commentary.

Uber's results will move the transportation and gig economy sector, affecting Lyft (LYFT), DoorDash (DASH), and autonomous vehicle plays including Tesla (TSLA) and Alphabet (GOOGL). Management tone on robotaxis could be the session's most market-moving commentary.

CVS Health's results affect the managed care and pharmacy benefit management space, with implications for Cigna Group (CI), Elevance Health (ELV), and the broader XLV ETF. The health care sector will have two major reports today — LLY and CVS — shaping its direction for the rest of the week.

What Investors Should Watch Next

• Eli Lilly and Walt Disney conference calls begin this morning — full-year guidance updates and management tone on second-half demand are the priorities.
• Uber's 8:00 AM ET call includes Q3 gross bookings guidance and autonomous vehicle strategy commentary.
• AppLovin reports tonight at 5:00 PM ET — the main after-hours event to monitor.
• Novo Nordisk (NVO) also reports Q2 results today — a direct comparison with Eli Lilly's GLP-1 franchise will be immediate.
• Later this week: Datadog (DDOG), ConocoPhillips (COP), and Fiserv (FISV) report Thursday August 6. Airbnb (ABNB), Cloudflare (NET), The Trade Desk (TTD), and DraftKings (DKNG) report Thursday after the close.
• Berkshire Hathaway (BRK.A/BRK.B) releases results Saturday, August 7, with market reaction expected Monday.
• The July 2026 jobs report is scheduled for Friday, August 7 at 8:30 AM ET. Economists expect approximately 87,500 nonfarm payrolls. The macro print will be a major catalyst at the close of a historically busy earnings week.

Conclusion

August 5, 2026 stands out as one of the most consequential single days of the summer earnings season. Six major companies spanning pharmaceuticals, entertainment, ride-hailing, e-commerce, healthcare, and mobile advertising all report in a single session. The collective results will provide investors with a comprehensive read on consumer health, drug demand, streaming economics, and AI-powered technology monetization.

Whether the day produces a clean sweep of beats or delivers some surprises, the guidance updates — particularly from Eli Lilly and Uber — will shape market expectations for the second half of 2026. Investors should pay close attention to conference call commentary, not just headline numbers, as management tone on the outlook has increasingly proven to matter more than any single quarter's results.

Sources

• AlphaStreet — Eli Lilly and Company (LLY) Q2 2026 Preview: EPS Est. $6.55, Reports August 5 — news.alphastreet.com — August 2026
• AlphaStreet — Uber Technologies Q2 2026 Earnings Preview — August 5, Street Expects $0.83 EPS — news.alphastreet.com — August 2026
• AlphaStreet — CVS Health (CVS) Q2 2026 Preview: EPS Est. $1.85, Reports August 5 — news.alphastreet.com — August 2026
• TIKR — Eli Lilly Reports Q2 Earnings August 5: The One Number That Decides the Reaction — tikr.com — July 31, 2026
• MarketBeat — Walt Disney (DIS) Earnings Date and Reports 2026 — marketbeat.com — Accessed August 5, 2026
• MarketBeat — Uber Technologies (UBER) Earnings Date and Reports 2026 — marketbeat.com — Accessed August 5, 2026
• MarketBeat — CVS Health (CVS) Earnings Date and Reports 2026 — marketbeat.com — Accessed August 5, 2026
• The Walt Disney Company Investor Relations — Disney's Q3 FY26 Earnings Results Webcast — investors.thewaltdisneycompany.com — July 14, 2026
• CNBC — Here's what to expect when Disney reports earnings before the bell — cnbc.com — August 5, 2026
• EarningsWatcher — UBER Q2 2026 Earnings Date August 5: Implied Move 8.3% — earnings-watcher.com — July 2026
• ProactiveInvestors — Uber autonomous vehicle outlook in focus for Q2 earnings — proactiveinvestors.com — July 2026
• Hudson Labs — Shopify Q2 2026 Earnings Preview — hudson-labs.com — August 2026
• ChartMill — SHOP Forecast, Price Target and Analyst Ratings — chartmill.com — Accessed August 5, 2026
• Benzinga — CVS Health Earnings and Forecasts — benzinga.com — Accessed August 5, 2026
• Arista Networks Press Release — Arista Networks to Announce Q2 2026 Financial Results on Tuesday, August 4, 2026 — arista.com — July 7, 2026