Financial news on April 23, 2026

1. Tesla released its Q1 2026 financial results: revenue reached $22.387 billion, up 16% year-on-year—the highest growth rate in three years; net profit stood at $477 million; free cash flow turned positive unexpectedly at $1.4 billion. 2. At the Google Cloud Next 2026 conference, Google unveiled its eighth-generation TPU chips—TPU 8t, optimized for training, and TPU 8i, optimized for inference—delivering an 80% improvement in cost-performance ratio. 3. TSMC’s Co-CEO stated that the company currently has no plans to adopt ASML’s latest high-numerical-aperture extreme ultraviolet (HNA-EUV) lithography systems, each priced above €350 million. 4. SK Hynix reported Q1 net profit of ₩40 trillion, significantly exceeding the market expectation of ₩29 trillion. 5. Boeing’s Q1 2026 revenue totaled $22.2 billion, up 14% year-on-year; net loss narrowed to $7 million; commercial aircraft deliveries rose 10%. 6. The U.S. Department of Defense plans to request over $54 billion in its FY2027 budget to fund the newly established ‘Defense Autonomous Operations Group’—a roughly 24,000% increase from last year. 7. According to the World Gold Council, global physical gold ETFs experienced approximately $12 billion in outflows in March—the largest monthly outflow on record. 8. The European Commission has drafted a fourth extension plan aimed at shielding European banks from the full impact of the Basel III final rules. 9. Deputy Governor Ben Broadbent of the Bank of England warned that the private credit market faces risks akin to the post-financial-crisis banking credit crunch. 10. Japan’s March export value rose 11.7% year-on-year; exports to China surged 17.7%, while exports to the U.S. rose 3.4%—the first positive growth in four months. 11. The UK’s March CPI rose 3.3% year-on-year and 0.7% month-on-month—the largest monthly increase since April 2025. 12. The German government slashed its 2026 GDP growth forecast from 1% to 0.5%, and lowered its 2027 forecast to 0.9%. 13. The Nikkei 225 Index breached the 60,000-point threshold for the first time, setting a new all-time high; it has risen 18.37% year-to-date in 2026. 14. South Korea’s KOSPI Composite Index hit a record high, with a year-to-date gain of 52.29%. 15. The Nasdaq Composite surged 1.64% to 24,657.57—another all-time high; the S&P 500 rose 1.05% to 7,137.90. 16. U.S. Treasury Secretary Bessent revealed that several Persian Gulf and Asian oil-producing allies—impacted by economic turbulence stemming from the Iran conflict—have requested currency swap arrangements with the United States.

Q1 2026 Global Pharma Earnings Overview: Seven Companies’ China Operations Show Stark Divergence—What Does This Signal?

AstraZeneca and Novartis: Rising China Weight AstraZeneca: +2% AstraZeneca’s Q1 2026 China revenue amounted to $1.923 billion, up 2% year-on-year—ranking first among the seven multinationals in China. Its China revenue now accounts for nearly 13% of total global revenue—a 2-percentage-point increase from 2025. During its Q1 2026 earnings call, AstraZeneca explicitly expressed strong confidence in China’s future growth prospects. Product-wise, Fasenra (benralizumab), added to China’s 2025 National Reimbursement Drug List (NRDL), achieved rapid uptake, delivering robust 63% growth in emerging markets—including China—in Q1 2026. Enhertu (trastuzumab deruxtecan) continues to see strong demand in both HER2-positive and HER2-low breast cancer indications; its performance in China has been outstanding since launch. These products are expected to drive further growth in AstraZeneca’s China business. Additionally, AstraZeneca acknowledged that Volume-Based Procurement (VBP) exerted downward pressure on Farxiga, Lynparza, and roxadustat. Specifically, Farxiga’s China revenue declined 3% due to VBP; management plans to offset this pressure through new product launches. In Q1 2026 alone, AstraZeneca secured approval for seven new products or new indications in China. Novartis: +0.9% Novartis’s China operations stand in sharp contrast to its global performance: global net sales totaled $13.113 billion, down 1% year-on-year, whereas China revenue reached $1.3 billion—up 8%—making China an indispensable strategic stronghold contributing resilience to overall growth, increasing its weight by 0.9 percentage points. Novartis CEO Vasant Narasimhan stated in an interview that the China market has stabilized and expects full-year 2026 growth to reach the high single digits to low double digits. Although the market will not rebound to pre-2025 levels (China revenue grew 21% in 2024), it remains attractive. During the earnings call, Leqvio’s performance in China was highlighted: outside the U.S., Leqvio achieved 106% growth internationally—largely driven by its successful inclusion in China’s NRDL. However, Novartis did not shy away from challenges: during the Q&A session, management explicitly noted that Cosentyx (secukinumab) faces competitive pressure from biosimilars and other同类 biologics in China, dampening its growth. Merck & Co., Novo Nordisk, and Sanofi: Dual Declines Merck & Co.: Revenue −47%, Weight −2.4% In Q1 2026, Merck & Co.’s China revenue stood at $353 million—down 47% year-on-year—the steepest decline among the seven multinational companies and the worst-performing region globally. Gardasil (HPV vaccine) generated approximately $1.1 billion in global sales in Q1 2026, down 19–22% year-on-year. CFO Caroline Litchfield explicitly attributed this decline to “weaker demand in China and Japan.”

Trinseo Reports Q1 2026 Results: $725M Sales, $116M Net Loss

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Trinseo reported Q1 2026 net sales of $724.7 million and a net loss of $115.9 million. Engineered Materials saw increased EBITDA due to cost savings, while Latex Binders sales grew.

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Trinseo Reports Q1 2026 Results: $725M Sales, $116M Net Loss

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