Top companies to watch for quarterly earnings this week

Highlights

  • Facebook, Inc. (NASDAQ: FB) will release its Q3 earnings on October 25 after the closing bell.

  • Microsoft Corporation (NASDAQ: MSFT) will report its Q1, FY22 financial results on October 26 after the market close.

  • Amazon.com, Inc. (NASDAQ: AMZN) is expected to release its Q3 earnings report on October 28 after the market close.

Investors' focus will be on the quarterly earnings of big tech companies this week. According to some experts, this week's earnings will put the market performance to the test. The US indices, nevertheless, saw notable gains in recent sessions buoyed by robust third-quarter earnings.

The big five tech companies include Facebook, Microsoft, Alphabet, Amazon, and Apple, which hold the maximum weightage on the indexes in terms of market capitalization. They account for 30% of the total weightage of companies on the S&P 500. In addition, there are many other big companies whose financial results will be closely watched by investors this week.

Here is a look at the top companies in the spotlight this week.

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Facebook, Inc. (NASDAQ: FB)

Facebook, Inc. is a leading social networking and technology company based in Menlo Park, California. It is expected to release its third-quarter earnings on October 25, after the market close. In the previous quarter, the firm's revenue was up 56% YoY to US$29.07 billion, while its net income surged 101% YoY to US$10.39 billion.

The FB stock rose by 20.74% YTD.

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Top earnings to watch this week

Source: Pixabay

Microsoft Corporation (NASDAQ: MSFT)


Microsoft is a Redmond, Washington-based technology company that produces software, computers, and other related products. The firm will release its first-quarter fiscal 2022 results on October 26 at 5:00 pm ET.

The company's revenue was up 21% YoY to US$46.2 billion in Q4, FY21, while its net income surged 47% YoY to US$16.5 billion. Its stock value rose 42.02% YTD.

Also Read: Roper (ROP) & Seagate (STX) stocks rally after Q3 reports

Alphabet Inc. (NASDAQ: GOOGL)

Alphabet is a technology holding company based in Mountain View, California. It is the parent company of Google. It is expected to release its third-quarter earnings on October 26 after the closing bell.

The company's revenue surged 62% YoY to US$61.88 billion in Q2, FY21, and its net income came in at US$18.52 billion, as compared to US$6.95 billion in the second quarter of fiscal 2020.

The GOOGL stock jumped 59.39% YTD.

Also Read: American Express (AXP) Q3 income up 70%, Honeywell (HON) sales up 9%

Visa Inc. (NYSE: V)

Visa Inc. is a San Francisco, California-based financial services company that offers electronic funds transfer solutions to customers. The firm will release its fourth quarter and full fiscal 2021 results on October 26 at 5:00 pm ET.

In the third quarter of fiscal 2021, the company's net revenue increased by 27% YoY to US$6.1 billion, while its GAAP net income was up 9% YoY to US$2.6 billion.

Its stock value grew by 6.19% YTD.

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Advanced Micro Devices, Inc. (NASDAQ: AMD)

Advanced Micro Devices is a leading semiconductor company that manufactures computer processors and other related products. It is based in Santa Clara, California. The firm is expected to release its third-quarter financial results on October 26 after the market close.

In the second quarter of fiscal 2021, the company's revenue increased by around 99% YoY to US$3.85 billion, while its net income came in at US$710 million, up 352% from the same quarter of the previous year.

The AMD stock rose 29.82% YTD.

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3M Company (NYSE: MMM)

3M is a conglomerate holding company based in Saint Paul, Minnesota. It offers its services in various sectors, like worker safety, health care, industrials, etc. The firm is expected to release its third-quarter financial results on October 26 before the bell.

The company's sales were up 24.7% YoY to US$8.95 billion in Q2, FY21. Its attributable net income came in at US$1.52 billion, as compared to US$1.30 billion in Q2, FY20.

Its stock value ticked up 5.2% YTD.

Also Read: 5 industrial stocks with over 40% YTD returns to explore

Coca-Cola Company (NYSE: KO)

Coca-Cola is an Atlanta, Georgia-based beverage company that manufactures and sells non-alcoholic beverages globally. The company will report its third-quarter financial results on October 27 at 8:30 am ET.

In the second quarter of fiscal 2021, the company's revenue increased by 42% YoY to US$10.1 billion, while its consolidated net income came in at US$2.62 billion, as compared to US$1.75 billion in Q2, FY20.

The KO stock surged 3.2% YTD.

Also Read: Boston Beer (SAM) & Chipotle Mexican Grill (CMG) see Q3 revenue gains

Apple Inc. (NASDAQ: AAPL)

Apple is one of the world’s leading technology companies and specializes in consumer electronics products, software, etc. It is based in Cupertino, California. The firm will release its fiscal 2021 fourth-quarter earnings report on October 28 after the market close.

The company's net sales were US$81.43 billion in Q3, FY21, compared to US$59.68 billion in the year-ago quarter. Its net income came in at US$21.74 billion, versus US$11.25 billion in Q3, FY20.

The AAPL stock soared 14.9% YTD.

Also Read: Intel (INTC) & Snap Inc stocks fall amid Q3 results, supply chain woes

Amazon.com, Inc. (NASDAQ: AMZN)

Amazon is a technology company that operates its leading e-commerce platform. It also offers cloud computing, digital streaming services, etc. It is based in Seattle, Washington. The firm is expected to release its third-quarter financial results on October 28 at 5:30 pm ET.

The net sales of the company were US$113.08 billion in Q2, FY21, compared to US$88.91 billion in the same quarter of the previous year. Its net income came in at US$7.77 billion as compared to US$5.24 billion in Q2, FY20.

The AMZN stock grew 4.67% YTD.

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Earnings this week: FB, MSFT, GOOGL, V, AMD, MMM, KO, AAPL, AMZN, XOM

Source: Pixabay

Exxon Mobil Corporation (NYSE: XOM)


Exxon Mobil is an oil and gas company based in Irving, Texas. The firm will report its third-quarter earnings on October 29 before the market opens.

The total revenues and other income of the company were US$67.74 billion in Q2, FY21, as compared to US$32.60 billion in the prior year's second quarter. Its attributable net income came in at US$4.69 billion against a loss of US$1.08 billion in Q2, FY20.

The XOM stock ticked up 52.1% YTD.

Also Read: Dow Inc. (DOW) total revenue jumps 53% in third quarter

Bottomline

Around 23% of the S&P 500 companies have already reported their quarterly results in recent weeks, of which about 84% beat the Wall Street estimates, the Refinitiv data showed. In addition, the S&P 500 earnings are expected to grow 34.8% from the same period last year, the data revealed.

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