Week ahead: Microsoft, Meta, Alphabet and Amazon headline packed earnings week
Published: 18:35 20 Oct 2023 EDT
Big Tech week is here this earnings season, with Microsoft, Meta, Alphabet and Amazon all scheduled to report.
Meanwhile, investors will be watching for US GDP numbers along with the Fed's preferred inflation gauge later in the week.
Monday, October 23
Logitech International SA (USA) (NASDAQ:LOGI) will release its second-quarter fiscal 2024 financial results Monday night, and analysts are not expecting to see either top or bottom-line growth from the company.
The maker of technology accessories including keyboards, mice, headphones, and webcams, is expected to report a 21.4% drop in earnings per share (EPS) when compared to the same period in 2022 ...read the preview.
Others due to report:
Earnings: Cleveland-Cliffs, Brown & Brown (NYSE:BRO)
Tuesday, October 24
Microsoft Corporation (NASDAQ:MSFT) could guide to double-digit reported revenue growth for the year as cloud consumption shows signs of accelerating, according to Jefferies analysts.
In an update to clients, they boosted their target price on Microsoft stock by 20% to $400 per share, while maintaining a ‘Buy’ rating, attributing the recent share-price decline primarily to multiple compression ...read the preview.
Google’s parent company Alphabet Inc (NASDAQ:GOOG) will report its third-quarter financial results after the closing bell, and it is expected to post strong year-over-year revenue, earnings and margin growth.
Wall Street analysts expect the tech giant to report a 10.3% increase in revenue from $57.3 billion in the year-ago quarter to $63.1 billion. Earnings per share (EPS) is expected to climb 36.8% from $1.06 to $1.45 ...read the preview.
The Coca-Cola Company (NYSE:KO) is expected to report increased sales but flat profits when it hands down its third-quarter earnings.
The beverage giant, whose brands include Coke, Sprite, Minute Maid, Powerade, and Fuze Tea, is expected to report a 3.6% increase in earnings from $11.06 billion in the year-ago quarter to $11.46 billion ...read the preview.
Visa Inc (NYSE:V) is expected to report earnings after the market closes on Tuesday, the Street consensus for the credit giant is earnings of $2.13 per share on revenue of $8.12 billion, compared to earnings of $1.86 on revenue of $7.79 billion a year earlier ...read the preview.
General Electric (NYSE:GE) is expected to report earnings growth driven by its Aerospace division when it hands down its third-quarter financial results.
GE’s Aerospace segment is expected to report robust commercial aerospace performance, growth in LEAP engine deliveries, and an increase in defense engine contracts ...read the preview.
Verizon Communications Inc. (NYSE:VZ) is expected to report shrinking earnings and revenue when it posts its third-quarter results.
The analyst consensus for the telecommunications giant is earnings of $1.18 per share on revenue of $33.25 billion, compared to $1.32 per share on revenue of $34.24 billion a year ago ...read the preview.
Raytheon Technologies Corp (NYSE:RTX) is grappling with near-term challenges amid concerns about the Geared TurboFan (GTF) technology and free cash flow issues.
The company is anticipated to report earnings of $1.19 per share for the upcoming quarter, which would be a decrease of 1.7% year-over-year ...read the preview.
Others due to report:
Earnings: General Motors, Snap, 3M, Spotify
Economic announcements: Services PMI, Manufacturing PMI
Wednesday, October 25
Meta Platforms Inc (NASDAQ:FB) is facing high expectations from Wall Street analysts going into its third-quarter financial report but analysts still see an earnings beat from the company ...read the preview.
For The Boeing Company (NYSE:BA), analysts expect a somewhat uplifting outlook from the aircraft manufacturing giant when it reports its third-quarter financial results.
The consensus forecast for the Arlington, Virginia-based company is a 57% year-over-year improvement in its quarterly loss to $2.66 per share, while its revenue is anticipated to rise 16% to $18.45 billion ...read the preview.
Others due to report:
Earnings: T-Mobile, CME Group (NASDAQ:CME), Thermo Fisher Scientific Inc
Economic announcements: New home sales
Thursday, October 26
Analysts are expressing optimism about Amazon.com Inc (NASDAQ:AMZN) as the company continues to demonstrate robust performance and the potential for cloud growth ...read the preview.
Intel Corporation (NASDAQ:INTC) is scheduled to report earnings after the market closes on Thursday, and while its top and bottom lines are expected to fall year-over-year an expectations beat may still be likely ...read the preview.
United Parcel Service Inc (NYSE:UPS) is expected to report an almost 50% year-over-year decline in its profits when it delivers its third-quarter 2023 financial results.
The package delivery company is expected to post earnings per share (EPS) of $1.60, down 46.5% from EPS of $2.99 in the year-ago quarter ...read the preview.
Ford Motor Company (NYSE:F) is expected to swing to a profit year-over-year when it reports its third-quarter results after the market closes on Thursday ...read the preview.
Others due to report:
Earnings: Merck, Chipotle, Keurig Dr Pepper, Caterpillar, Comcast (NASDAQ:CMCSA), Bristol-Myers Squibb
Economic announcements: GDP, Initial jobless claims, Durable goods, Retail inventories
Friday, October 27
A pair of energy giants close out the week, along with the highly anticipated PCE numbers.
Others due to report:
Earnings: Exxon, Chevron, AbbVie
Economic announcements: PCE index, Personal spending, Consumer sentiment
