Still life of Ozempic and Wegovy with weight scale.

(Michael Siluk/Getty Images)

Hims slips after market despite earnings, revenue beat

The company reported that it has 2.37 million subscribers, up 38% year over year but less than the 2.42 million analysts expected.

J. Edward Moreno

5/5/25 3:20PM

Hims & Hers whipsawed in after-hours trading despite reporting earnings results for the first three months of the year that blew Wall Street expectations out of the park.

It reported earnings per share of $0.20, compared to the $0.12 analysts polled by FactSet were expecting. The company also reported $586 million in sales, up 111% year over year, far higher than the $538.6 million analysts polled by FactSet were penciling in. Hims & Hers reiterated its full-year revenue guidance of $2.3 billion to $2.4 billion, which is in line with analysts’ consensus.

The company did report that it has 2.37 million subscribers, up 38% year over year but less than the 2.42 million analysts expected. It also said it expects to make between $530 million to $550 million in revenue in the second quarter of this year, less than the $564 million the Street was hoping for.

Both estimates would mark a quarter-over-quarter decline in revenue, a first for Hims since it went public in 2020.

Hims did not specify in the report how much revenue it made from its weight-loss segment. This is the last full quarter where the company will be able to continue selling compounded semaglutide, the active ingredient in Novo Nordisk’s blockbuster weight-loss drugs, Ozempic and Wegovy. The FDA declared in February that semaglutide is no longer in shortage, and the deadline for Hims to stop selling copies of the drug is May 22.

Investors have been hungry for details on what Hims’ weight-loss business will look like moving forward. Novo Nordisk announced a partnership Hims and two other telehealth companies last week. Hims users will now be able to access branded semaglutide through the platform, though it’s unclear what kind of margins that gives the company.

Hims has said that it will continue offering personalized GLP-1 drugs, which it says doesn’t skirt the FDA’s regulations. According to the company, more than half of its total subscribers are on some form of personalized medication, though it’s unclear what the figure is for those on semaglutide specifically.

In its shareholder letter, Hims said that it would expand into hormone-related categories like low testosterone and menopause by the end of the year. Hims, which currently also said it would pursue international expansion through “organic growth and opportunistic M&A over the course of the next five years.”

Hims announced earlier on Monday that Nader Kabbani, a longtime Amazon executive who most recently worked at the robotics company Symbiotic, would serve as its next chief operating officer. He is replacing Melissa Baird, a longtime executive who joined Hims shortly after it was founded.

Nia Warfield, Luke Kawa

S&P 500 closes at record as tech heavyweights flex (besides Apple)

The Magnificent 7 did the heavy lifting, performing better than any S&P 500 sector ETF on Tuesday.

Matt Phillips

Oracle rips as backlog builds, but company misses on top and bottom lines

Oracle shares shot higher after-hours as the company reported a growing backlog, even though its fiscal Q1 results fell slightly short of expectations. The company reported:

Adjusted earnings per share of $1.47 vs. expectations of $1.48.
Revenue of $14.93 billion vs. expectations of $15.04 billion.

Shares were up 21% in after-hours trading, which is a pretty crazy stock move for a company with a market cap of more than $675 billion.

The market was likely impressed by a giant build in the company’s “remaining performance obligations,” or RPO, which is how the company measures the value of signed cloud computing deals that haven’t yet been reported as revenue. In a statement, CEO Safra Catz said:

“We signed four multi-billion-dollar contracts with three different customers in Q1. This resulted in RPO contract backlog increasing 359% to $455 billion. It was an astonishing quarter — and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign-up several additional multi-billion-dollar customers and RPO is likely to exceed half-a-trillion dollars.”

Oracle Announces Fiscal Year 2026 First Quarter Financial Results

“We signed four multi-billion-dollar contracts with three different customers in Q1. This resulted in RPO contract backlog increasing 359% to $455 billion. It was an astonishing quarter — and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign-up several additional multi-billion-dollar customers and RPO is likely to exceed half-a-trillion dollars.”

Matt Phillips

Robinhood rides index inclusion rally to record close

Robinhood Markets notched a new closing high Tuesday, as the crypto, stock, and options brokerage continued to ride a rally set off by the announcement that it would be added to the S&P 500 Index.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

Robinhood appears to be benefiting from the so-called inclusion effect, a market phenomenon where companies that are added to major market indexes can see a price move as index funds — whose holdings must mirror the membership of the index — rush to buy the stock.

For what it’s worth, it seems like Robinhood will upon entry (effective prior to the market open on September 22) be the top-performing member of the index, as its roughly 220% gain this year is more or less double that of the current leader, Seagate Technology Holdings.

Luke Kawa

GameStop posts impressive Q2 results with big sales beat

Don’t call it a comeback!

GameStop is jumping aftermarket as the video games and collectibles retailer posted an impressive set of second-quarter results.

Net sales: $972 million (estimate $823 million).
Adjusted diluted earnings per share: $0.25 (estimate $0.16).

Note: these consensus estimates, compiled by Bloomberg, are from only two analysts.

The sales beat is particularly noteworthy, as the company had already done an exemplary job of expense control to help protect its bottom line. Revenues were up more than 20% versus the year-ago quarter, the biggest annual jump in sales since the company (and the world) was emerging from the pandemic in 2021.

The options market implies a move of plus or minus about 9.4% on earnings.

For a while, GameStop’s ability to generate positive net income was purely a function of the interest earnings on its substantial cash hoard. But now, GameStop has strung together five consecutive quarters of positive operating cash flows for the first time in its history!

This was the quarter when the company began to act on its bitcoin treasury strategy, raising money through the sale of convertible notes and using some proceeds to purchase the crypto asset.

Because of how much market value has been ascribed to potential for GameStop CEO Ryan Cohen to use its significant cash holdings to transform the company, the prospect of converting cash into bitcoin initially did not sit too well with investors following the announcement of this new strategic push in March.

Shares of the once-upon-a-time meme stock really didn’t get too much love during retail frenzies earlier in the summer, and were down about 25% year to date heading into this release.

As of the close of the quarter, its bitcoin holdings were valued at $528.6 million.

Western Digital Seagate Technology Rise to top of S&P 500

Data storage is so hot right now

A rapid turnaround in profitability helps explain how Seagate Technology and Western Digital have clawed to the top of the S&P 500 this year.

Matt Phillips11h