Q2 Earnings: These 3 Tech Stocks Shattered Expectations

The 2025 Q2 earnings cycle continues to wind down, with nearly all S&P 500 companies already reporting results. The period has again been one of resilience, with overall top and bottom line growth remaining strong alongside positive revisions for the upcoming Q3 cycle.But more specifically, this cycle, several companies – Apple AAPL, Meta Platforms META, and DoorDash DASH – knocked it out of the park, with each also seeing favorable price action post-earnings.Let’s take a closer look at what drove the positivity.DoorDash Orders Keep ComingDoorDash shares have been red-hot in 2025, gaining nearly 50% and widely outperforming relative to the S&P 500. Its latest set of quarterly results helped confirm the bullish trend, with DASH posting records for Total Orders, Marketplace GOV, and revenue.The company is clearly enjoying a growth surge, with Total Orders up 20% year-over-year alongside a 25% boost in sales. Adjusted EBITDA also saw a strong 52% move higher to $655 million, further solidifying the results.Analysts have become notably bullish concerning their EPS outlooks over recent months, raising their expectations across the board.Image Source: Zacks Investment ResearchMeta Reports Outsized GrowthMETA posted a double-beat relative to our consensus headline expectations, with adjusted EPS and sales growing 38% and 22% year-over-year, respectively. The growth here is significant given META’s already massive size, with favorable advertisement results further driving positivity.Below is a chart illustrating the company’s revenue on a quarterly basis.Image Source: Zacks Investment ResearchAd impressions across its family of apps increased by a strong 11% year-over-year, with the average price per ad also rising by 9%. The company also continued to improve its efficiency, with an operating margin of 43% in the reported period well above the 38% mark achieved in the same period last year.Apple Shatters RecordsApple’s latest release was highly positive, reporting quarterly records for sales, iPhone revenue, Services revenue, and EPS. Apple’s installed base of active devices also reached a new record, further adding to the record-breaking period.The Mag 7 member again generated serious cash throughout the period, with free cash flow totaling $24.4 billion. Below is a chart illustrating the company’s free cash flow on a quarterly basis.Image Source: Zacks Investment ResearchDown 8% YTD, shares have lagged the S&P 500 in a big way, reflecting the second-worst Mag 7 performer behind Tesla. Shares currently trade at a 29.3X forward 12-month earnings multiple, modestly above the five-year median and reflecting a 30% premium relative to the S&P 500.Bottom LineThe 2025 Q2 earnings season is winding down, with the period largely positive and resilient.And throughout the period, several companies – Apple AAPL, Meta Platforms META, and DoorDash DASH – posted quarterly results that crushed expectations. Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.See "2nd Wave" AI stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report DoorDash, Inc. (DASH): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks