Weekly Earnings Preview: Alphabet, Microsoft, Amazon, and Major Corporations Set to Report

Earnings season is well underway, with more technology giants scheduled to report next week as investors seek insight into how companies are funding the artificial intelligence boom. Approximately 160 S&P 500 firms are slated to release quarterly results this week, including Alphabet, Microsoft, and Amazon. Boeing will report after receiving long-delayed certification for the 737 Max 10, alongside pharmaceutical leader Eli Lilly. Concerns about corporate AI spending weighed on markets last week, triggering a Thursday sell-off that marked the Nasdaq Composite’s worst session since June. So far, quarterly results have been solid. Through Friday, over 120 S&P 500 companies have reported, with roughly 83% surpassing earnings expectations, according to FactSet. All times are Eastern.

Tuesday

Coca-Cola is scheduled to report before the opening bell, with a management conference call at 8:30 a.m. In the prior quarter, Coca-Cola delivered a double earnings beat driven by increased World Cup exposure, and the beverage company raised its full-year forecast. For the current period, LSEG analysts project modest year-over-year growth in earnings and revenue of 7.4% and 4.1%, respectively. Investors will watch for fallout from Coca-Cola’s new U.S. foodservice agreement with KFC, which replaced PepsiCo products earlier this month. Bank of America analyst Peter Galbo characterized the deal as evidence of strength in Coca-Cola’s U.S. foodservice business and brand portfolio; Marriott recently made a similar switch. Historical data from Bespoke Investment Group indicates Coca-Cola has not missed earnings estimates since 2017, and its shares typically edge higher after reports.

Boeing will report before the bell, followed by a conference call at 10:30 a.m. Last quarter, Boeing posted a wider-than-expected adjusted loss, partly due to delays in new Air Force One aircraft. This quarter, LSEG data shows analysts forecasting only 2.5% topline growth year over year. Attention centers on the FAA’s recent approval of the 737 Max 10 following years of delays. Transportation Secretary Sean Duffy subsequently told CNBC that the United States needs to accelerate jet certification. Bespoke data shows mixed earnings results for Boeing over the past year; shares gained after the last two reports but fell following the three prior releases.

Robinhood Markets will report after the bell, with a conference call at 5 p.m. In the prior quarter, event contracts revenue reached $156 million. In June, Robinhood launched Rothera, a Commodity Futures Trading Commission-licensed exchange operated through its joint venture with Susquehanna International Group. LSEG data indicates analysts expect divergent results this quarter: earnings growth down more than 9% but revenue growth up over 11% year over year. Rosenblatt recently initiated coverage with a buy rating, describing Robinhood as having one of the strongest growth narratives in the financial sector. Analyst Chris Brendler noted that few companies can claim to have transformed an entire industry, but Robinhood can. Bespoke data suggests earnings season has historically been unfavorable for Robinhood, with shares falling an average of 2.2% the day after reports across the last six releases, yielding a Bespoke Earnings Score of 25 out of 100, well below the 50 average.

Wednesday

Alphabet is set to report after the bell on Wednesday, followed by a conference call at 4:30 p.m. Last quarter, Alphabet’s revenue exceeded expectations, but the stock declined after the company raised its annual capital expenditure forecast, citing a supply-constrained environment. This quarter, LSEG projects roughly 25% revenue growth year over year as Google’s parent continues to benefit from the AI boom. BMO Capital Markets said recent AI model releases have helped alleviate concerns that Alphabet was lagging in frontier model intelligence. Bespoke data shows Alphabet shares have gained an average of 1.3% following earnings reports.

Ford Motor will report after the bell, with a conference call at 5 p.m. Last quarter, Ford raised its full-year earnings forecast despite lower revenue, citing a strong mix of profitable products. This quarter, LSEG analysts expect a decline, including a slight dip in revenue growth. Wolfe Research outlined a cautious setup for Ford ahead of earnings, citing production downtime and lower-than-expected profit, though CEO Jim Farley indicated the slowdown should not affect full-year guidance. Bespoke data shows Ford beats earnings estimates 70% of the time and revenue estimates 77% of the time.

Microsoft is scheduled to report after the close, with a conference call at 5:30 p.m. Last quarter, Microsoft shares rose after the company reported 18% year-over-year revenue growth and a $3.2 billion gain from an investment in Anthropic. This quarter, LSEG forecasts 14.3% earnings growth and 16.8% revenue growth year over year. Piper Sandler noted improving investor sentiment driven by Azure acceleration and a stronger AI strategy, with partner checks indicating strong net results and demand for prepackaged AI solutions. Bespoke data shows Microsoft has posted a double beat every quarter since April 2023, with shares typically rising after reports.

Thursday

Caterpillar will report before the bell on Thursday, with a conference call at 8:30 a.m. Last quarter, Caterpillar beat estimates as data center construction boosted demand for its power and construction equipment. This quarter, the Street is forecasting breakout growth of more than 43% in earnings and more than 17% in revenue, per LSEG. Bank of America’s Michael Feniger lowered his price target on Caterpillar, citing investor concerns over peak backlog, higher rates, and power equipment risks. The industrial giant’s shares rose after last quarter’s report and have increased following each of the last six earnings releases.

Eli Lilly will report before the bell, with a conference call at 10 a.m. Last quarter, Lilly far exceeded estimates and raised its full-year outlook on the strength of its GLP-1 and diabetes drugs. This quarter, LSEG data shows expectations for slightly lower earnings growth than a year ago but more than 28% revenue growth. Goldman Sachs noted the Street will closely monitor full-year guidance commentary as Mounjaro and Zepbound continue to perform. Analyst Asad Haider wrote that investor conversations point to expectations for a fiscal 2026 guidance raise, with the top end likely needing to exceed consensus to satisfy bullish investors. Bespoke data shows Lilly beats earnings and revenue estimates nearly 70% of the time, including double beats in each of the last seven quarters.

Amazon.com is scheduled to report after the bell, followed by a conference call at 5 p.m. Last quarter, Amazon benefited from the AI boom, with strong cloud growth driving a double beat. This quarter, LSEG data shows earnings per share expected to remain relatively flat alongside double-digit annual revenue growth. Jefferies maintains a positive view, calling the stock attractive and a discounted alternative to Alphabet and Walmart. Analyst Brent Thill wrote that AWS acceleration is not yet complete and that Amazon’s e-commerce and retail operations continue to surprise positively despite cautious consumer sentiment. Bespoke data shows Amazon’s top- and bottom-line results beat expectations 72% and 66% of the time, respectively.

Intel is scheduled to report after the bell, with a conference call at 5 p.m. Last quarter, Intel topped expectations, posting its highest quarterly revenue growth since 2011. This quarter, LSEG data shows analysts expecting 70.3% earnings-per-share growth and 20.5% revenue growth year over year. UBS sees a strong topline outlook supported by strong but slowing demand, though analyst Timothy Arcuri noted that Intel said demand continues to outpace supply. Arcuri described the near-term setup as quite strong, with the chipmaker on the right path. Bespoke data shows shares historically decline an average of 1.36% following earnings releases.

Source link