Tech & Software · Week of Nov 2, 2026
Q3 earnings bring buybacks and one-time charges: the week in tech
Third-quarter earnings dominated the week, with several companies expanding buybacks and others booking one-time charges that pushed them to losses.
Third-quarter results made up the week's releases, and capital returns were a recurring theme. EPAM Systems replaced its repurchase program with one of up to $1.8 billion and plans a $500 million accelerated share repurchase, Hut 8 raised its repurchase authorization to $1.0 billion, and CLEAR added $175.0 million to its buyback authorization and declared a quarterly dividend. Cogent Communications went the other way: its Board voted to suspend the dividend program while the company bought back notes and signed non-binding letters of intent to sell four data centers.
IT services companies reported modest top-line movement. Unisys posted 2.5% revenue growth, EPAM 2.3% and Kyndryl a 1.9% decline, with Kyndryl reporting hyperscaler-related revenue growth of 27.2%. One-time items shaped bottom lines elsewhere: Unisys recorded a $151 million non-cash pension settlement loss, and Zillow Group's net loss included a $165 million class action settlement. Hut 8's net income was driven by unrealized gains on digital assets, alongside a new AI data center lease.
Cogent Communications Holdings, Inc.
Cogent Communications Reports Third Quarter 2026 Results
Cogent Communications reported Q3 2026 service revenue of $231.2 million, down 4.4% from Q3 2025, and a net loss of $(0.62) per share, and its Board voted on November 4, 2026 to suspend the dividend program. The company also repurchased portions of its 2032 secured and 2027 unsecured notes and entered two non-binding letters of intent to sell four data centers for approximately $100.0 million in cash.
Unisys Corporation
Unisys Announces 3Q26 Results
Unisys reported Q3 2026 revenue of $471.5 million, up 2.5% year over year, and a net loss of $201.0 million that included a $151 million non-cash pension settlement loss, net of tax. The company raised its 2026 constant currency revenue growth guidance to (3.0)% to (1.5)% and reaffirmed non-GAAP operating profit margin guidance of 9.0% to 11.0%.
Wayfair Inc.
Wayfair Announces Third Quarter 2026 Results, Reports Double Digit U.S. Revenue Growth
Wayfair reported Q3 2026 total net revenue of $3.4 billion, up 9.7%, with U.S. net revenue up 11.4% and net income of $62 million versus a $99 million loss a year earlier. The company says U.S. growth came against a roughly flat category, while International net revenue fell 2.3% and that segment posted negative Adjusted EBITDA of $25 million.
Hut 8 Corp.
Hut 8 Reports Third Quarter 2026 Results
Hut 8 reported Q3 2026 revenue of $71.1 million and net income of $189.5 million, including $413.8 million of primarily unrealized gains on digital assets, and signed a second 352 MW IT lease at Beacon Point. The company says the lease brings expected base-term contract value across its AI data center portfolio to approximately $26.6 billion, and it closed a $1.07 billion revolving credit facility and raised its repurchase authorization to $1.0 billion.
CLEAR
CLEAR Announces Third Quarter 2026 Financial Results
CLEAR reported Q3 2026 revenue of $292.9 million, up 27.8%, and net income of $75.3 million, with Total CLEAR Members at 46.7 million and Active CLEAR+ Members at 8.5 million. It raised full-year Free Cash Flow guidance, added $175.0 million to its repurchase authorization and declared a $0.15 per share dividend payable December 24, 2026.
Kyndryl
KYNDRYL REPORTS SECOND QUARTER FISCAL 2027 RESULTS
Kyndryl reported revenues of $3.7 billion for the second quarter of fiscal 2027, down 1.9% year over year, with net income of $59 million and hyperscaler-related revenues of more than $550 million, up 27.2%. The company reaffirmed its fiscal 2027 outlook and says workforce rebalancing actions are expected to produce annualized run-rate savings of approximately $400 to $500 million in fiscal 2028.
Zillow Group, Inc.
Zillow Group Reports Third-Quarter 2026 Financial Results
Zillow Group reported Q3 2026 revenue of $724 million, up 7%, with Rentals revenue up 26% and Mortgages revenue up 32%, while Residential revenue fell 4%. Its net loss of $158 million included a $165 million Zillow Offers securities class action settlement, and the company attributes the Residential decline to higher-than-expected mortgage rates.
EPAM Systems, Inc.
EPAM Reports Results for Third Quarter 2026
EPAM Systems reported Q3 2026 revenues of $1.426 billion, up 2.3%, and GAAP diluted EPS of $2.53, up 32.5%, and now expects full-year 2026 revenue growth of 3.5% to 3.7%. The Board approved a repurchase program of up to $1.8 billion through December 31, 2029, and EPAM says it is committed to returning at least 50% of free cash flow to shareholders annually from 2027 through 2029.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Love AI Tools reporting.