Peak earnings season for the third quarter begins this week when most major publicly traded corporations are scheduled to report results on a global scale. Mr. Musk’s $44 billion deal to take over Twitter is set to close no later than Friday.
Tech Firms To Release Earnings
All eyes will be on the major tech companies this week. Microsoft and Google will take the lead on the stand after the market closes on Tuesday, followed by Apple and Meta later in the week. Here is what to expect from the earnings release according to analyst consensus EPS.
Microsoft Corporation
Microsoft Firm is a multinational technology corporation based in Redmond, Washington, that manufactures computer software, consumer electronics, personal computers, and related services. Microsoft Corporation is slated to disclose profits after the market close on October 25, 2022.
The report will cover the fiscal quarter ending September 30, 2022. The consensus EPS expectation for the quarter is $2.3, according to analyst estimates. Last year, the reported EPS for the same quarter was $2.27.
Alphabet Inc.
With its corporate headquarters in Mountain View, California, Alphabet Inc. is an American global technological conglomerate holding company. On October 2, 2015, Google underwent a restructuring that resulted in its creation. As a result, it became the parent company of Google and numerous previous Google subsidiaries.
On October 25, 2022, following the closing of the market, Alphabet Inc. is anticipated to announce earnings. The financial quarter covered by the report will expire in September 2022.
The consensus EPS expectation for the quarter is $1.25, based on analyst projections. For the same quarter the previous year, $1.4 in reported EPS was recorded.
Visa Inc.
Visa Inc. is a financial services firm that facilitates electronic payment transfers worldwide, most notably through Visa-branded credit cards, debit cards, and prepaid cards. The company is slated to disclose profits after the market close on October 25, 2022.
The report will cover the fiscal quarter ending September 30, 2022. The consensus EPS expectation for the quarter is $1.86, according to analyst estimates. Last year, the reported EPS for the same quarter was $1.62.
Coca-Cola Company (The)
The Coca-Cola Firm, a global beverage company with over 500 brands available in more than 200 countries and territories with a market value of $242 billion, is the largest in its industry. On 10/25/2022, before the market opens, profits are anticipated to be reported.
The financial quarter covered by the report will expire in September 2022. Forecasts made by financial analysts have the consensus EPS estimate for the quarter at $0.64. For the same period the previous year, there was a reported EPS of $0.65.
Meta Platforms, Inc.
On Wednesday 26th, following the closing of the market, Meta Platforms, Inc. is anticipated to announce earnings. The financial quarter covered by the report will expire in September 2022.
The consensus EPS expectation for the quarter is $1.87, according to analyst projections. For the same period the previous year, the reported EPS was $3.22.
The Meta’s Family of Apps, which includes Facebook, Instagram, Messenger, and WhatsApp, are up against TikTok and Snap SNAP for advertising cash. Twitter TWTR and Meta are becoming more and more competitive in the NFT business.
Thermo Fisher Scientific Inc
Thermo Fisher Scientific Inc. is a provider of scientific equipment, reagents, and consumables as well as software services. On October 26, 2022, before the market opens, the company is expected to announce quarter three earnings.
The financial quarter covered by the report will expire in September 2022. The consensus EPS expectation for the quarter is $4.78 based on analyst projections. For the same period the previous year, the reported EPS was $5.76.
Apple Inc.
Steve Jobs and Steve Wozniak established Apple in 1976 and today with a market valuation of $2.5T, Apple has developed from a family garage to one of the most significant public firms on the planet.
On 10/27/2022, following the closing of the market, Apple Inc. is anticipated to announce earnings. The financial quarter covered by the report will expire in September 2022.
The consensus EPS expectation for the quarter is $1.26, based on analyst projections. In the same quarter a year ago, the reported EPS was $1.24.
Amazon.com, Inc.
Amazon.com, Inc. is a global technology business that specializes in artificial intelligence, cloud computing, online advertising, digital streaming, and e-commerce. On October 27, 2022, after the close of business, Amazon is anticipated to announce results.
The financial quarter report covers the period ending September 2022. The consensus estimate for EPS for the quarter, based on analyst projections, is $0.23. For the same period the previous year, there was a reported EPS of $0.31.
Mastercard Incorporated
Mastercard is a worldwide payment innovation and technology pioneer that connects billions of customers, issuers, merchants, governments, and enterprises. Mastercard Inc is set to disclose earnings before the market opens on October 27, 2022.
The report will cover the fiscal quarter ending September 30, 2022. The consensus EPS expectation for the quarter is $2.57, according to analyst estimates. Last year, the reported EPS for the same quarter was $2.37.
Exxon Mobil Corporation
ExxonMobil sells fuels, lubricants, and chemicals under four brands: Esso, Exxon, Mobil, and ExxonMobil. Exxon Mobil Corporation is slated to disclose earnings before the market opens on October 28, 2022.
The report will cover the fiscal quarter ending September 30, 2022. The consensus EPS expectation for the quarter is $3.88, according to analyst estimates. Last year, the reported EPS for the same quarter was $1.58.
Chevron Corporation
Chevron, formerly known as the Standard Oil Company of California, is the second-largest direct descendant of Standard Oil. It is involved in all aspects of petroleum operations, including exploration, production, refining, marketing, and research.
Chevron Corporation is slated to disclose earnings before the market opens on October 28, 2022. The report will cover the fiscal quarter ending September 30, 2022.
The consensus EPS expectation for the quarter is $5.1, according to analyst estimates. The reported earnings per share for the same quarter last year were $2.96.
After-Hours Trending Stocks
After-hours trading is the buying and selling of stocks after the close of the U.S. stock exchanges at 4 p.m. to 8 p.m, U.S time. The White House denied claims that the Biden Administration was considering subjecting Elon Musk’s projects to a national security investigation.
Twitter shares rose in extended trading as a result of the announcement. Musk has until 5 p.m. ET Friday to complete the transaction or risk prosecution.
Discover Financial Services (DFS)
After-hours trading saw a decline in shares after the credit-card provider failed earnings expectations. Discover’s earnings were $3.54 per share, below the $3.77 per share projection made by Wall Street. Provision for credit losses increased from $185 million to $773 million in just one year.
During the quarter, the volume of payment services increased by 10% year over year to $84.1 billion.
Cadence Design (CDNS)
CEO and President Anirudh Devgan noted during the release that “Generational industry trends are driving continued investment by semiconductor and system companies, and our broad, differentiated portfolio positions us extremely well to help our customers accelerate their next-generation innovation.”
The business, a pioneer in the design of electronic systems, outperformed Wall Street forecasts for profit and revenue in the third quarter. The adjusted earnings per share were $1.06 on a $902.6 million revenue.
Qualtrics International (XM)
The software company’s stock increased 11% in extended trade after it reported better-than-anticipated quarterly results and increased its full-year outlook. $377.5 million was the third quarter’s total revenue, increasing 39% over the same period last year.
“Our results demonstrate the durability of our business model, and the critical role Qualtrics plays for our customers, as well as the discipline our team is bringing to this moment,” Qualtrics CEO Zig Serafin said during the earnings release.
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