Core Insights - Salesforce reported Q2 revenue of $10.24 billion, marking a nearly 10% year-over-year growth, the closest to double-digit growth in six quarters, and exceeding analyst expectations [1] - Non-GAAP EPS was $2.91, reflecting a nearly 14% year-over-year increase, significantly surpassing company guidance and analyst forecasts [1] - Subscription and support revenue grew approximately 10.6% year-over-year, while current remaining performance obligations (CRPO) increased by 11%, slightly above analyst expectations [1] Future Guidance - The company anticipates a slowdown in Q3 revenue growth to 8%-9%, with the midpoint of revenue guidance falling below analyst expectations [1] - For the full fiscal year, the maximum revenue growth guidance is set at 9% [1]

Core Viewpoint - DexCom's recent earnings report shows a positive performance with adjusted earnings per share beating estimates, but the stock has underperformed the S&P 500 in the past month, raising questions about future trends leading up to the next earnings release [1][2]. Financial Performance - DexCom reported Q2 2025 adjusted earnings per share of 48 cents, exceeding the Zacks Consensus Estimate of 45 cents by 6.7%, and up from 43 cents in the prior-year quarter [2]. - Total revenues increased by 15.2% year-over-year to $1.16 billion, surpassing the Zacks Consensus Estimate by 3.1% [3]. - Sensor and other revenues, which account for 97% of total revenues, rose 18% year-over-year to $1.12 billion, while hardware revenues decreased by 31% to $39.3 million [4]. Geographic Revenue Breakdown - U.S. revenues, making up 73% of total revenues, grew by 15% year-over-year to $841 million, while international revenues (27% of total) improved by 16% to $316.1 million [5]. Margin and Expense Analysis - Adjusted gross profit was $695.9 million, a 9.1% increase from the prior-year quarter, with an adjusted gross margin of 60.1%, down 340 basis points year-over-year [6]. - Total adjusted operating income reached $221.8 million, up 13.5% from the previous year, with an adjusted operating margin of 19.2%, down 30 basis points year-over-year [7]. Financial Position - At the end of Q2, DexCom had cash, cash equivalents, and marketable securities totaling $2.93 billion, an increase from $2.7 billion in Q1 2025, with total assets rising to $7.33 billion from $6.75 billion [8]. Future Guidance - DexCom raised its 2025 revenue outlook to a range of $4.6-$4.625 billion, indicating a year-over-year growth of 14-15%, and expects an adjusted gross margin of approximately 62% and an adjusted operating margin of about 21% [9]. Market Sentiment and Estimates - Recent estimates for DexCom have shown a downward trend, with the stock currently holding a Zacks Rank 3 (Hold), suggesting an expectation of an in-line return in the coming months [10][12]. Industry Comparison - DexCom operates within the Zacks Medical - Instruments industry, where another player, IQVIA Holdings, reported a revenue increase of 5.3% year-over-year, indicating a mixed performance within the sector [13].

Core Viewpoint - The management of Master Kong Holdings (00322) has provided new revenue guidance for the fiscal year 2025, indicating a year-on-year growth that is flat to low single digits, while core net profit is expected to grow at a double-digit rate [1] Revenue Guidance - The revenue guidance for fiscal year 2025 is projected to be flat to low single digits year-on-year [1] - The core net profit growth rate is anticipated to be in double digits [1] Market Outlook - The competitive landscape and beverage recovery remain uncertain for the second half of the year, leading to slightly lower revenue forecasts compared to the company's guidance [1] Profitability Insights - There is a higher visibility for profit growth due to better cost control measures [1] - The double-digit core profit growth guidance is expected to be achievable [1] Target Price Adjustment - The target price has been adjusted from HKD 12.2 to HKD 11.6 [1] - The rating is maintained at "Hold" [1]