Supermicro' Stronger Margins Were Better Than Expected; Coreweave Gives The AI Bulls Another Cheer; Julius Berger Earned More But Kept Less; & Geregu Defaults On Bonds As Earnings Plunge

AI demand continues to drive growth across the technology sector, but rising costs and weaker operating performance are putting pressure on earnings elsewhere. Supermicro beat expectations as stronger margins lifted profit, while CoreWeave's revenue more than doubled on booming demand for AI computing. Back home, Julius Berger's H1 profit fell despite higher revenue as rising costs weighed on the bottom line, while Geregu Power's profit plunged 88% as revenue collapsed 78.7%, putting its cash flows and debt obligations under renewed pressure. All this and more in today's Read It And Eat!

Markets as of  13th of August 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.

MAJOR HEADLINES

• Supermicro Beats Q4 Earnings As Profit Surges On Stronger Margins

Super Micro Computer beat fourth-quarter earnings expectations after adjusted earnings per share jumped to $1.70, well above analysts' $0.92 estimate, according to the Wall Street Journal. However, revenue of $11.12 billion came in below the $11.6 billion analysts expected, although sales nearly doubled from a year earlier as the company benefited from a stronger mix of customers and higher-margin products.

The stronger margins helped drive the earnings beat, with adjusted gross margin rising to 17.6%, significantly above the company's previous guidance. Supermicro also entered fiscal 2027 with more than $60 billion in new orders and forecast full-year revenue of $65 billion–$72 billion, well above Wall Street's roughly $53 billion expectation. Shares rose about 8.6% in after-hours trading following the results. Wall Street Journal

• CoreWeave Beats Q2 Expectations As Revenue More Than Doubles On AI Demand

CoreWeave beat second-quarter earnings and revenue expectations as revenue more than doubled year-on-year to $2.58 billion, slightly above analysts' $2.56 billion estimate, according to CNBC. Its adjusted loss came in at $1.03 per share, narrower than the expected $1.20 loss, as demand for AI computing from customers including Anthropic and Meta continued to drive growth.

The strong demand is also forcing CoreWeave to spend aggressively, with quarterly capital expenditure reaching $9.4 billion and the company raising its 2026 spending forecast to $35 billion–$39 billion. Its revenue backlog climbed to $104.2 billion, while more than $25 billion in new customer commitments were secured during the current quarter. Despite continued losses and heavy spending, CoreWeave shares rose more than 14% in extended trading after the results. CNBC

•  Julius Berger Misses On The Bottom Line As H1 Profit Falls 14.7%

Julius Berger Nigeria missed on the bottom line as H1 2026 profit after tax fell 14.7% to ₦6.06 billion, despite revenue rising 23.6% to ₦424.56 billion, according to BusinessDay. Revenue increased from ₦343.45 billion in the same period last year, but higher costs and expenses weighed on profitability.

The result highlights the challenge of converting Nigeria's strong construction activity into higher profits as companies contend with elevated input, labour and financing costs. Julius Berger's ability to protect margins while executing its growing project pipeline will be key to reversing the decline in profitability and sustaining its recent revenue growth. The stock was trading around ₦310.80 following the results, but no material, verifiable share-price reaction to the earnings announcement could be confirmed.

•  Geregu Power Misses H1 Earnings As Profit Plunges 88% On Revenue Collapse

Geregu Power's first-half profit plunged 88% to ₦2.51 billion, while revenue fell 78.7% to ₦18.66 billion, according to BusinessDay. The sharp deterioration reflects a major slowdown in the company's operating performance during the period, leaving the power producer with significantly lower earnings despite Nigeria's persistent electricity supply challenges.

The company's financial pressure is compounded by its ₦40.09 billion Series 1 bond, its first bond issuance, on which it defaulted, according to BusinessDay. The bond carries a 14.5% coupon and matures in July 2029. FMDQ confirms the bond's original issue amount at ₦40.09 billion, with a 14.5% coupon. The combination of collapsing revenue and debt obligations puts renewed focus on Geregu's cash flows and ability to meet its financial commitments as it works to recover from the sharp H1 earnings decline. Businessday Nigeria

Minor Headlines

• Tencent missed Q2 profit estimates despite an 11% revenue jump as the Chinese tech giant ramps up spending on AI Reuters

• Maersk beat Q2 profit estimates and raised its full-year earnings guidance for the second time as strong freight rates lifted profits Reuters

• Applied Materials beat quarterly expectations as AI-driven demand for advanced memory and semiconductor equipment supports growth Yahoo.Finance

• TUI missed Q3 operating-profit estimates as weaker travel demand and high fuel costs weighed on Europe's largest travel company, though it avoided another profit warning Yahoo.Finance

• VFD Group beat H1 earnings as profit after tax doubled to ₦10.06 billion, driven by stronger investment income, and declared a 24-kobo interim dividend Businessday Nigeria

• Eterna beat H1 earnings as revenue climbed 37.9% to ₦217.31 billion and profit reached ₦5.88 billion on stronger fuel sales and improved operating efficiency Vanguard

• CAVA beat Q2 earnings and revenue estimates on rising foot traffic and a rapid rebound from the "explosive diarrhea" outbreak Wall Street Journal

• Caverton Offshore missed as H1 revenue fell 10.9% and the company swung to an ₦8.60 billion loss despite a sharp improvement in operating profit Businessday Nigeria