Earnings Roundup: Meta, Microsoft & Qualcomm

Summary

Bloomberg Intelligence Podcast: Earnings Roundup – Meta, Microsoft & Qualcomm

Episode Date: July 29, 2026
Hosts: Paul Sweeney & Scarlet Fu (guest host Ed Ludlow, Tech Analyst, Mandeep Singh)

---

Episode Overview

This episode provides a detailed and insightful analysis of recent earnings from three major technology companies: Microsoft, Meta Platforms (formerly Facebook), and Qualcomm. The discussion centers on each company’s quarterly performance, market reactions, strategies around AI and cloud investments, and the broader implications for the tech sector, especially regarding capital expenditure (Capex) and the shifting balance between growth and profitability.

---

Key Discussion Points & Insights

1. Microsoft: Cloud & AI Propel Growth

• Strong After-Hours Performance: Microsoft shares rallied 3.5% in the aftermarket on robust earnings (01:34).
• Key Drivers:
  • Cloud Outperformance: Azure posted top-line growth of ~43%, exceeding expectations, closely tracking Capex growth (01:50).
  • AI Strategy: Significant commentary on traction with Copilot—Microsoft’s AI efforts are delivering tangible data points (01:50).
  • Copilot Paid Seats Milestone: 30 million paid Copilot seats, up from 20 million at the end of March (02:53).
  • Transparency Praised: More data points on AI and transparent disclosure please investors (03:28).

Quote (Tech Analyst, 02:53):
"Yes, because it's versus 20 million at the end of March… Nadella was talking about Azure generating more than $100 billion in annualized revenue."

• Capex Uncertainty: Microsoft’s earnings press release did not specify fiscal year 2027 Capex plans—investors awaiting the earnings call for clarity (03:36).

2. Meta Platforms: Margin Squeeze & AI Ambitions

• Market Reaction: Shares down approximately 6% on cautious guidance (03:54).

• Earnings Details:

  • Q3 revenue forecast: $61-64B (vs. $63.17B estimate).
  • Q2 revenue up 28%, above expectations; EPS slightly missed consensus (03:54).
  • Core Business: Advertising remains main revenue generator; ad impressions and pricing improved (04:21).

• Concerns:

  • Operating Margin Drop: Fell from 43% to 31% YoY (04:44).
  • Elevated Costs: Expenses up 55%, due to legal ($2.4B) and severance ($1.2B) charges; free cash flow “has basically disappeared” (04:44).
  • Expense Outlook: Total expected expenses raised (now $165–169B) (05:59).

Quote (Mandeep Singh, 10:50):
"Just look at the margin degradation for Meta here—they went from 43% to 31% operating margin."

• AI and Enterprise Shift: Mark Zuckerberg emphasizes enterprise opportunities beyond Meta’s traditional consumer base (07:03).
  • Possible move into cloud computing and competition with big tech hyperscalers is noted (09:15).
  • Challenges exist—Meta is late to open-source LLM and API markets, faces difficulty building an enterprise business from scratch (08:02).

Quote (Ed Ludlow, reading Zuckerberg, 09:11):
“AI is accelerating our core business today, powering our next generation of products and opening the door to entirely new enterprise opportunities.”

3. Capital Expenditure Trends: The ‘AI Arms Race’

• Microsoft vs. Meta Capex:
  • Microsoft’s strong margins attributed to cloud business absorbing Capex hikes (10:59).
  • Meta’s rising Capex drives costs via depreciation, pressuring margins even with strong ad pricing (11:18, 12:02).

Quote (Tech Analyst, 14:39):
“…Capex doesn't just go up because you need to spend more to build more to meet demand. Capex can also go up because the cost of building those things is higher - labor and construction inflation, materials inflation, memory is a massive macro factor…”

• Investor Discipline Demanded: Meta must maintain Capex within market expectations due to limited investor tolerance for further hikes (13:58).
• Depreciation Impact: Increased Capex now leads to higher depreciation expenses, affecting cost of revenue and margins (11:18).

4. Qualcomm: Smartphone Headwinds & Diversification Efforts

• Stock Impact: Qualcomm stock down about 3.5%-4% after a weak forecast citing "component shortages and rising costs" (16:19).
• Market Dynamics:
  • Suffering from worse-than-expected smartphone market demand, especially in China and loss of Apple business (16:37).
  • Diversification efforts (beyond handsets) not enough to offset current market decline.
• ARM Holdings: Brief mention—benefiting more due to strong data center exposure (17:58).

Quote (Tech Analyst, 16:37):
"...it seems worse for Qualcomm than we thought...they are getting hit on all sides..."

---

Memorable Quotes & Moments

• Microsoft’s Clarity:

  "Microsoft's just saying more, giving newer data points which take us beyond the simple: Are the top line numbers growing beyond the Capex growth?"
  – Tech Analyst (02:53)

• Meta’s Margin Dilemma:

  "The problem now they have is all those levers which once were there to protect the margins are not good enough when your Capex is growing up like this..."
  – Mandeep Singh (12:02)

• Qualcomm’s Challenge:

  “They are the main processor maker for smartphones. They are getting hit on all sides because of end market demand... it seems worse for Qualcomm than we thought.”
  – Tech Analyst (16:37)

---

Timestamps For Key Segments

• 01:34 – Microsoft earnings reaction
• 02:53 – Microsoft’s Copilot adoption and Azure growth
• 03:54 – Meta earnings breakdown and market reaction
• 04:44 – Meta’s margin pressure, legal and severance costs explained
• 07:03 – Mandeep Singh analyzes Meta’s lack of “upside” and shift to enterprise
• 08:02 – Meta’s open-source LLM and API business competitiveness
• 09:11 – Mark Zuckerberg’s AI and enterprise quote
• 10:50 – Comparing Microsoft and Meta’s Capex strategies
• 13:35 – Capex disclosure changes and their consequences
• 16:19 – Qualcomm results summary
• 17:58 – AAM/ARM Holdings and Qualcomm market comparison

---

Overall Tone & Takeaways

• Analytical and Fast-Paced: The discussion is brisk, thoroughly analytical, and loaded with granular financial detail, reflecting the market’s instantaneous response to headline earnings figures.
• Defensive AI & Cloud Narratives: Both Microsoft and Meta are justifying heavy Capex through the lens of AI and cloud infrastructure, but Microsoft is further along, with more transparent and convincing results, while Meta is under scrutiny for profitability pressure and questions about enterprise success.
• Smartphone Sector Struggles: Qualcomm remains stuck in the cyclical smartphone downturn, with limited near-term relief from diversification.

---

For Investors and Listeners

This episode captures the central narrative of modern big tech investing: the race to outspend and out-build rivals on AI infrastructure while keeping Wall Street confident in the payoffs to come. Microsoft leads on cloud and enterprise AI, Meta is recalibrating toward business clients amidst squeezed margins, and Qualcomm exemplifies the risks when core markets falter despite best efforts to pivot.

Recommended for: Investors, tech sector analysts, and anyone tracking the business impact of the AI and data center boom among “the Magnificent Seven” tech giants.

---

Transcript

[Financial Advisor]

I don't love the word retirement because I think it has negative baggage. I like the word financial independence. If you were to be financial independent, like how would you spend your time? I think that's a better way to think about the end of life stage versus quote unquote retirement.

[Bank of America Announcer]

Introducing B of A Rewards A new loyalty program with rewards for every ambition. From cash back deals on brands you know and love to a credit card rewards bonus. From fueling up to rewards that fuel your goals. It all starts with a Bank of America checking account and grows from there. What would you like the power to do? Bank of America Open or enroll your [e-mail] B of A Rewards bank of America Corporation All Rights Reserve the thing about AI for business, it may not automatically fit the way your business works. At IBM we've seen this firsthand. But by embedding AI across hr, IT and procurement processes, we've reduced costs by millions, slashed repetitive tasks and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM

[Bloomberg Audio Studios Announcer]

Bloomberg Audio Studios Podcasts Radio News

[Bloomberg News Anchor]

this is a breaking news update from Bloomberg.

[Bloomberg Journalist]

Instant reaction and analysis from our 3,000 journalists and analysts around the world.

[Ed Ludlow]

Big tech earnings Microsoft rallying 3 1/2% in the aftermarket. You've got matter under pressure. Ed Ludlow is host of Bloomberg Tech on Bloomberg Television, 11am Wall street time Monday through Friday. Ed, pick where you want to start to start Microsoft.

[Tech Analyst]

I feel like it's probably the most tangible, right? So everything is in the cloud growth better than expectations. And you know, the math was really simple going into this. They've just closed the book on fiscal financial year and the question still remains when we get to the call, what does Microsoft tell us about the capital expenditure growth into next year? Because the street sees capex growing beyond 50%. Top line growth on Azure is 43% give or take ex tech. All the street really wants to see is that pace of growth being near to capex growth. Right? It's a really simple equation. But going back to Alphabet, which is highly analogous, there's so much commentary here from Microsoft about traction with copilot like more data points that are just easy tangible to understand about how Microsoft's AI efforts are going. Right. And that's the stock reflecting that in after hours.

[Ed Ludlow]

Is the 30 million paid seats a big deal for 365copilot for Microsoft?

[Tech Analyst]

Yes, because it's versus 20 million at the end of March. Exactly. What I'm pointing to the other one is I think you guys mentioned this but like Nadella was talking about Azure generating more than $100 billion in annualized revenue. You know remember Amazon went to that figure very early, you know in its, in its kind of like growth of us. Then what Amazon did they report tomorrow but was to say this is the AI specific annualized revenues. So Microsoft's just saying more, you know giving newer data points which take us beyond the simple. Are the top line numbers growing beyond the capex growth which you kind of

[Ed Ludlow]

want to get right when a company is spending and building and doing all of this. The information, the more transparency that's helpful big time.

[Tech Analyst]

Yeah. I mean again from the press release alone, Microsoft's not saying anything about fiscal year 27 CAPEX.

[Ed Ludlow]

Yeah.

[Tech Analyst]

So there's this period of time where everyone's like okay, reading, digesting the statement and the release and then on the call everything could change. And that is the jeopardy of big tech earnings. And that's what's up.

[Ed Ludlow]

Well let's do a little bit with Metta platforms and then we'll get back to some of these other names. Shares of Meta. Shares of meta down about 6.33% let's go ahead and say 6%. Some numbers here. Third quarter revenue 61 to 64 billion. The estimate was for 63.17 billion. Second quarter revenue came in above estimates. Second quarter EPS came in ever so shy of estimates. What is the thing that is moving the stock with matter today so hard?

[Tech Analyst]

I mean revenues up 28% ahead of expectations. Right. Ad impressions have improved, pricing has improved matters. Core business its bread and butter is still advertising. The story was how is I made that better, more monetizable.

[Ed Ludlow]

So revenue should be higher than estimates, right?

[Tech Analyst]

It is, it is ahead of estimates I think at 20.

[Ed Ludlow]

Sorry, sorry. For the third quarter, the outlook.

[Tech Analyst]

I'm sorry, yeah, for the outlook. Right, yeah. The one thing that my, my brain is going to is that the operating margins didn't just come in significantly below consensus by about 4 percentage points but costs are up 55% so the operating margin has fallen from 43 to 31. Costs are higher and free cash flow has basically disappeared.

[Ed Ludlow]

Is just.

[Tech Analyst]

I'm reading the statement Ed.

[Ed Ludlow]

Is that because they're investing so much in talent? Is it because the tokens cost so much like this? These companies are spending a ton of money. We looked at last week what what Alphabet said about going cash flow negative. Metal platforms is feeling it matter is feeling it when it comes to its earnings because it's spending more money.

[Tech Analyst]

Maybe they're disclosing that There was a one time legal charge of $2.4 billion and then severance costs. Super interesting $1.2 billion charges. We knew about the story right about the waves of Meta layoffs. So that could excluding those the underlying operating performance was kind of much nearest expectations. Maybe they're a big factor but also goes the idea that the free cash flow is basically gone which is such a common story across the mag seven Right.

[Ed Ludlow]

Right. And I want to just throw one other headline that crossed the Bloomberg Metta saying some youth related trials may result in material loss like we have done here. Olivia Carville and I believe others on the team have done a lot about social media and the impact on youth and we know Meta has certainly been one of the targets. So just interesting to get some of that clarity. Again, just a quick headline. Meta boosting the low end of its annual capital spending outlook and I'm looking at the live blog too and I think this is something that you were going to and this was our Linda one our tech editor. One thing traders might be reacting to second quarter operating margin 31% versus 43% a year earlier. The company's expecting that total expenses of 165 billion 269 billion raising the low end from 162 billion previously. I want to bring into the conversation to our Mandeep Singh, Bloomberg Intelligence Global head of Technology research making his way from TV into our radio studio. We're talking about Metta. What's investors don't like it.

[Mandeep Singh]

I mean look, there wasn't much of an upside when it comes to the top line, both this quarter and the guide. And when it comes to capex, even though they didn't raise capex, the one line that caught my attention was that first line from Mark Zuckerberg that he expects things to improve across enterprises. And that's new because all of Meta's generated revenue is generated from the consumer side. So the fact that he has that in the first line shows that they are leaning towards enterprise usage, the cloud build or cloud build API usage by enterprises and that's what they are betting on when it comes to this.

[Ed Ludlow]

I mean silly question but does Meta actually have an LLM that can be licensed by some of these enterprises in a way that would be different than an enterprise using a platform from Microsoft or from OpenAI or from Anthropic?

[Mandeep Singh]

So it's getting more competitive when it comes to Raw LLM usage. And the reason I say that is because of Kimi K3 and all these open source models that have really taken off and are being used for use cases besides the frontier where Anthropic is being used. So I think if Meta has to compete with open source, it's going to be interesting how they position themselves, whether it's in terms of lower token pricing or they have another strategy because they're building a business from scratch and it's not easy. They're late to that cloud game, they are late to that API game. So how they go about it, who those anchor customers are going to be, that's a million dollar question. Who are they going to partner with in terms of that enterprise usage? Is it going to be Microsoft or Anthropic? We don't know that.

[Ed Ludlow]

Well, come on back in here. What do you think? You're going through all of these releases right now. You point out that Mark Zuckerberg. What mandeep was referring to Mark Zuckerberg writing, quote, AI is accelerating our core business today, powering our next generation of products and opening the door to entirely new enterprise opportunities. What are those opportunities?

[Tech Analyst]

Yes. So Bloomberg's reported that Matter has explored a literal cloud computing business. I heard Charlie call Matter a hyperscaler. It operates data centers at hyperscale for its own business, for its internal workloads. That's very different to renting out compute capacity to third parties. But Bloomberg's reported Matters looking at that. More recently, Kurt Wagner got on the phone with Mark Zuckerberg, Right. And he said, yeah, you know, that is something, an idea of something we might do. That quote around enterprise opportunities is pretty much the sort of clearest example we've had. And I think going into this, I'd wager that for the call, that is something that analysts will focus questions on. It's not about. It's not about ROI on the AI investment, it's about ROI on the infrastructure they're building. How can you basically make new revenue streams and more money on all the infrastructure you've built? It's so interesting. I think Mandeep's very smart to get to that so quick and interesting, by the way, because how many quarters on the show do we say, well, here's the quote from the CEO at the top of the reason, and we kind of move on. And how much work is this one doing? I find that fascinating.

[Ed Ludlow]

I want to ask both of you, because here we have Metta under pressure. You've got Microsoft, though, rallying in the aftermarket, not up as much as it was earlier, but still up about 1.4%. Mandeep, let me bring you back in here. What is a better tell on the I spend the narrative like is it Microsoft in terms of the enthusiasm and the expected momentum to continue?

[Mandeep Singh]

I mean just look at the margin degradation for matter here they went from 43% to 31% operating margin.

[Ed Ludlow]

Massive drop.

[Mandeep Singh]

It is a massive. And that's where a Microsoft with its cloud business is able to cushion, you know, some of the headwinds it is facing from all these lamps and still do very well in terms of the holding up the margin side of the equation.

[Ed Ludlow]

Apart from capex, where's that money going? Why are margins under pressure?

[Mandeep Singh]

I mean in the. So with all these companies now once you raise your CapEx, you have to show the CapEx in the depreciation line so your cost of revenue will keep going up. So in the case of matter, it's not as if they are hiring a lot more people. They did hire a lot of people and paid millions of dollars. But I don't think that.

[Ed Ludlow]

You don't think that's what it is.

[Mandeep Singh]

No, it's that cost of revenue line going up because now those depreciation expenses would kick in.

[Ed Ludlow]

So it's just capex.

[Mandeep Singh]

You think it will be capex, but

[Ed Ludlow]

can't they make up for that with, with the investments that they've made in making advertising more targeted and getting us to click or at least getting marketers in front of eyeballs in an even more efficient way.

[Mandeep Singh]

The ad pricing growth was, it was around 14% and you know, that's pretty solid. That's been the case for the last few quarters. So the problem now they have is all those levers which once were there to protect the margins are not good enough when your capex is growing up like this and you know your cost of revenue will keep growing. So that's, that's a hard part in managing margins here for matter.

[Ed Ludlow]

So Microsoft's like, sorry Matt, but we're having a pretty good day. Microsoft shares still up in the aftermarket. So Ed Ludlow, you've been going through and reading more from the company. What's jumping out at you?

[Tech Analyst]

Well, going into this I think we knew that it was the case. Maybe Mandeep can clear it up. I think there is some kind of accounting or disclosure change for Microsoft where the CapEx number and they're accounting for leases specifically makes the CapEx number look smaller. But again, like we're in this period now where the call Comes very important because we know what the Azure growth number is for the quarter gone and the period this closed the door on the financial year 26, financial year 27 starts and you know the very simple math is in an environment where everyone thinks capex goes up, what is the percentage growth in Capex that is foreseen relative to the growth in Azure? And that's why they're putting so much emphasis on all these other metrics, the like maybe non financial in nature to get some evidence that their investments are getting traction.

[Ed Ludlow]

What?

I don't know, I don't know. I mean, I think. Go ahead.

[Mandeep Singh]

I mean the one thing I had in mind before coming into earnings is if a company doesn't raise their capex in an environment where memory prices are up 20, 30% to me they are cutting back somewhere else. And that would be my interpretation for Meta is because they didn't raise capex, they certainly are offsetting it with something else.

[Bloomberg News Anchor]

We just don't know what, where are they doing that?

[Mandeep Singh]

I mean they don't want to raise capex because the stock would have been down even more. They raised the capex so they didn't have a choice. I mean they are being forced to be disciplined here in terms of CapEx because the market doesn't have a tolerance for higher metals. Capex for this year and possibly for 2020.

[Ed Ludlow]

Some context to the word discipline now, Carol. Discipline for metal platforms means 130 billion to $145 billion in capex this year.

Well Ed, come on back in here though. For matter, moving into CL this business and maybe we'll get more on the call about their intentions and their plans. I mean, is it still the right move for Metta?

[Tech Analyst]

I mean I feel like just going off past action and precedent that we're going to get to the call and you know, like the way I think about it is if you're listening or watching BusinessWeek right now, you're asking yourself what's still to come. We've gone through the numbers, we've gone through the headlines. Everyone with Metta knows about Mark Zuckerberg. Susan Lee, the CFO is very important and often does the heavy lifting of communicating the financial strategy. I'll just see a world in which we get to the call and she's like, yeah, here's our commentary on capex. Mandy's point is so important because it's not new. And I mean that with massive respect. The capex doesn't just go up because you need to spend more to build more, to Meet demand. Capex can also go up because the cost of building those things is higher. You know, you have labor and construction inflation, materials inflation. Memory is a massive macro factor. You know, IBM basically tried to blame 10 days ago the lack of spending on their technology mainframes in particular because their customers faced higher Capex largely relating to higher memory prices. So you know, all of these factors are common to all of these capital expenditure deployers who want to build infrastructure.

[Ed Ludlow]

All right, so we're tracking matter and Microsoft here in the after hours. Microsoft up about 2%, a little bit more. So just following earnings, if I go on over to Metta, it is still down about 5.6%. Let's just also throw into the mix. We've got Qualcomm, that one also came out with its results. And the stock right now in the aftermarket, as I bring it up on my Bloomberg, it is down about 3.5%. And then we have ARM holdings.

We have ARM holdings as well. I want to go to Qualcomm real quick to Ed because Ed is interviewing Cristiano Amon tomorrow on, on Bloomberg Tech. Be sure to tune in for that. The CEO of Qualcomm, Ed, the company gave a weak forecast for the current quarter. It cited component shortages and rising costs. That's not a new story, but by any means, I mean we've known this

[Tech Analyst]

about, so it's not new. I would say in the smartphone market it seems worse for Qualcomm than we thought. You know, they are the main processor maker for smartphones. They are getting hit on all sides because of end market demand, being hit by memory, for example. They have tried to diversify the business away from that reliance on smartphone. But within smartphone they're also kind of, it seems like losing business from Apple faster than, than was modeled for. And then like they are super, super entrenched or exposed to Android in China. Right. And so like in aggregate, all of the forecasts for that, that handset market, they aren't, they weren't rosy to begin with. The thing that I will ask Cristiano is for him to give me his latest assessment of the smartphone market for this year and whether it is better or worse than he had told me last quarter. So simple. But it is possible that things deteriorate, you know, quarter to quarter. And reading Ian King's report on the earnings, that that seems to be the case.

[Ed Ludlow]

Hey, so Qualcomm down about 4.3% here in the aftermarket. ARM holdings just down by 8.10of a percent. AAM delivering a sales for forecast of about 1.38 billion in the fiscal second quarter. And we did see the stock under some pressure here. Mandeep, come on back in Anything in terms of AAM or Qualcomm that's that's of note for you?

[Mandeep Singh]

I mean just exposures. I think AAM because of the data center exposure continues to do better even though AAM does have smartphone exposure. But because their data center exposure has been much higher in the past few quarters, they seem to be beating numbers. Whereas in the case of Qualcomm, I mean they are talking about a 2029 guide and how the business would be more diversified by then. But in the near term this business is declining. The handset business is still under pressure because of the consumer smartphone and the memory pricing impact.

[Ed Ludlow]

Our right through on AAM noting royalties from those products, data centers specifically more than doubling from a year earlier and the appetite for a new chip lineup is greater than anticipated. This is from the company's CEO ARM holdings.

[Financial Advisor]

Over $100 trillion estimated to be transferred to generations in the next 25 years. It's both a risk and opportunity because we see that only about 18 19% of high net worth investors plan on sticking with their advisor post transfer.

[Ed Ludlow]

This has to be a tough statistic for some to hear, but people who work so hard trying to grow their net assets, they want to protect that life work and they want to make sure that it is able to transfer in a seamless way.

[Bloomberg News Anchor]

Whether you're planning a big tech event, launching a new campaign or just stocking up on team gear, finding the right promotional products makes all the difference. 4imprint offers thousands of options from on trend apparel and premium drinkware to tech totes and giveaways so you can find the right fit for any audience, purpose or budget. You can customize it all. Your logo, your message, your look and many items come with no setup charge to help you save. And if you're really watching the bottom line, you'll find standout choices at every price point so you can make a real impact while staying on budget. Plus you'll get expert help, fast turnaround times and their 360 degree guarantee so you can be foreign print certain your order will arrive on time and look exactly right. Whatever your goal, 4imprint makes it easy to find your perfect promo match. Explore the possibilities [e-mail] for Imprint.

[Public.com Advertiser]

For certain, support for this show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions buying the dip manually sweeping idle cash Putting on a hedge on Public you can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English like if the Vix hits 25, buy a put option on the S&P 500 or if my cash balance goes above $20,000, move the excess into my direct index. You approve of the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market paid for by Public

[Financial Advisor]

Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors, LLC SEC registered advisor complete

[Bloomberg News Anchor]

disclosures [e-mail] disclosures whatever your goal, trade show giveaways, client Gifts or Team Gear 4 imprint has the promo products to match with thousands of options from apparel and drinkware to tech and totes, it's easy to find the right fit for your brand and budget. With standout choices at every price point and with their 360 degree guarantee, you can be four imprint certain your order will show up just right, right on time. Explore [e-mail] 4imprint for certain the Hulu

[Bloomberg Audio Studios Announcer]

Original Series Furious is now streaming on Hulu and Hulu on Disney. Starring Emmy Rossum as Alice Black, Furious follows a rookie FBI agent on the hunt for Catherine, played by Lola Petticrew, a mysterious and calculating female serial killer. While Alice upholds justice, Catherine kills for it, terrorizing the rich and powerful men of New York in her pursuit of vengeance. With secrets that change everything, Alice discovers there's a thin line between hunter and prey. Watch the Hulu Original Series Furious, now streaming on Hulu and Hulu on Disney for bundle subscribers. Terms apply.

[Bloomberg Journalist]

Now more than ever, America needs a laugh. Enter the Super Troopers to the rescue. Vermont's finest and most shockingly offensive mustachioed highway patrol officers return to the big screen in Super Troopers 3 with more pullover pranks and more over the top shenanigans than ever in this latest installment of the cult comedy classic Rat. Barva's wildly over the top Indian engagement to Thorny's sister spirals out of control. A debaucherous bachelor party, a wedding that Thorny is desperate to stop, and a dangerous drug smuggling ring all threaten the troupe's friendships and future. Fill your leader of cola grab your buds and roll up to the multiplex for Super Troopers 3. Only in theaters August 27. Get tickets. Meow.