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Q2/H1 Results Show Resilience as Firms Push AI, Cost Cuts and M&A

Late‑July earnings show companies are protecting margins through job cuts, AI and SaaS acceleration, M&A, asset sales, core system upgrades.

Overview

  • Visa reported robust volume recovery and product releases while announcing a shift to an "Agentic AI" development model and $563 million in severance tied to a technology and product team restructuring.
  • Sanofi posted double‑digit Q2 sales growth and raised 2026 guidance to about 10% sales growth at constant exchange rates after strong pharma launches and higher business EPS.
  • SPIE delivered very strong H1 results with organic growth and a 20‑basis‑point EBITA margin lift, completed several bolt‑on deals and secured an investment‑grade Fitch rating that supports continued M&A.
  • Regional banks showed mixed dynamics: Trustmark completed a long‑running core migration and sold $73.8 million of delinquent mortgages to cut nonperforming assets, while peers reported deposit pressures, funding shifts and repricing as they protect margins.
  • Software and payments companies are leaning on recurring revenues and digital accelerators—Lectra reported ARR of €102.6m and higher SaaS margins while Euronet’s digital units grew 31%—and firms are using buybacks, bolt‑ons and asset sales to redeploy capital.