Several technology companies reported their second-quarter 2025 earnings with mixed results and raised guidance. Upstart Holdings Inc. reported revenue of $257.3 million, beating estimates by approximately $32 million and marking a 102% year-over-year increase. However, it posted an adjusted EPS loss of $0.17 against an expected gain, while guiding full-year revenue to about $1.055 billion, above consensus. Toast Inc. reported revenue of $1.55 billion, surpassing estimates and reflecting a 25% year-over-year growth, with adjusted EBITDA of $161 million and annual recurring revenue reaching $1.93 billion. Its gross payment volume increased 23% to $49.9 billion, and it expects 29% growth in fintech and subscription gross profit for 2025. Snap Inc. posted revenue of $1.34 billion, in line with estimates and up 9% year-over-year, but reported a net loss of $263 million and an adjusted EPS of -$0.16, slightly missing expectations. Daily active users rose 9% to 469 million, and the company forecasted third-quarter revenue between $1.48 billion and $1.51 billion. Match Group reported revenue of $863.7 million, beating estimates slightly but down 1% year-over-year, with adjusted EPS matching expectations at $0.49. The company had 14.1 million payers, a 5% decline, but revenue per payer increased 5%. It provided a third-quarter revenue outlook of $910 million to $920 million, above estimates. Duolingo Inc. exceeded expectations with second-quarter revenue of $252.3 million, a 41% increase year-over-year, and an EPS of $0.91, beating consensus. Monthly active users reached 128.3 million, and daily active users were 47.7 million. The company raised its full-year 2025 revenue forecast to $1.011 billion to $1.019 billion and expects adjusted EBITDA between $288.1 million and $295.5 million, attributing growth to AI-enhanced subscriptions and user engagement. AppLovin reported revenue of $1.26 billion, up 77% year-over-year but slightly below estimates, with EPS of $2.39 exceeding expectations. Adjusted EBITDA rose 99% to $1.02 billion. The company announced the sale of its Apps business to Tripledot Studios and forecasted third-quarter revenue between $1.32 billion and $1.34 billion. Nebius Group posted a 625% year-over-year revenue increase to $105.1 million, beating estimates, with a reduced adjusted EBITDA loss of $21 million. It raised its annual recurring revenue outlook to $900 million to $1.1 billion and plans to expand AI infrastructure with a power capacity target exceeding 1 gigawatt by 2026. Overall, the earnings season reflects strong revenue growth driven by AI integration and subscription services, alongside some profitability challenges and cautious outlooks.