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Monstrous Earnings Ahead: Facebook, Microsoft, Alphabet, Apple and Amazon in Focus

By:
Vivek Kumar
Published: Oct 24, 2021, 06:55 UTC

Next week’s earnings are of much significance for major market movements as over 160 S&P 500 companies along with four of the five “FAANG” companies would report quarterly results. Following is a list of earnings scheduled for release October 25-29, along with previews for select companies. Investors will keep an eye out for signs that rising costs, labour shortages amid supply chain disruptions will erode U.S. corporate profits this quarter and in the future.

Wall Street Earnings

In this article:

The world’s largest online social network Facebook is expected to report its third-quarter earnings of $3.19 per share, which represents year-over-year growth of over 17% from $2.71 per share seen in the same period a year ago.

The Menlo Park, California-based social media conglomerate would post revenue growth of over 35% to around $29.3 billion. It has beaten consensus earnings per share estimates in all of the last four quarters.

“We kept our 3Q21 adv forecast in check after our 3Q21 Digital ad expert call on 10/8, which suggested strong but decelerating ad growth at Core FB and IG with growth led mainly by pricing. For 3Q21, we are +0.7% & (1.0%) vs. consensus revenue & EBITDA; we are 1.1% and 1.6% above 4Q21 cons. rev. & EBITDA. Investors will focus on iOS 14.5 colour and 4Q21 rev. guide at the print,” noted John Blackledge, equity analyst at Cowen.

“We forecast 16% annual revenue growth’21-’26 driven by 16% annual advertising revenue and offset by 6% annual Other revenue. We view Advertising revenue as driven mostly by the contribution of mobile, video and Instagram, while we forecast Desktop remaining flattish. We expect EBITDA margins to remain roughly in line with current levels.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE OCTOBER 25

Ticker Company EPS Forecast
HSBA HSBC Holdings £0.10
CBU Community Bank System $0.80
BOH Bank of Hawaii $1.33
DORM Dorman Products $1.22
FBP First Bancorp FBP $0.28
IBA Industrias Bachoco Sab De Cv $0.88
HSBC HSBC $0.69
KMB Kimberly Clark $1.65
OTIS Otis Worldwide Corp $0.73
LII Lennox International $3.65
PCH Potlatch $0.92
CALX Calix $0.29
BXS BancorpSouth $0.65
CATY Cathay General Bancorp $0.91
IBTX Independent Bank $1.30
AIN Albany International $0.70
BDN Brandywine Realty $0.02
OI Owens-Illinois $0.52
ARI Apollo Commercial Real Est Finance $0.36
HTLF Heartland Financial USA $1.23
FB Facebook $3.19
ARE Alexandria Real Estate Equities $0.54
SUI Sun Communities $0.97
BRO Brown & Brown $0.52
CCK Crown $1.96
PKG Packaging Of America $2.35
UHS Universal Health Services $2.75
AGNC American Capital Agency $0.65
ACC American Campus Communities -$0.10
RNR Renaissancere -$7.85
TNET TriNet $0.79
ASR Grupo Aeroportuario Del Sureste $44.91
CR Crane $1.36
AMKR Amkor Technology $0.44
SSD Simpson Manufacturing $1.79
AXTA Axalta Coating Systems $0.34
TMUS T-Mobile Us $0.48
CDNS Cadence Design Systems $0.75
HWM Howmet Aerospace Inc $0.26
NWE Northwestern $0.58
MSNFY Minera Frisco ADR $0.00
TLK Telekomunikasi Indns Tbk Prshn Pp Pt $0.45
GT Goodyear Tire & Rubber $0.25
RCL Royal Caribbean Cruises -$4.13

Tuesday (October 26)

IN THE SPOTLIGHT: MICROSOFT, ALPHABET

MICROSOFT: The Redmond, Washington-based global technology giant would report its fiscal first-quarter earnings of $2.07 per share, which represents year-over-year growth of about 14% from $1.82 per share seen in the same period a year ago. The world’s largest software maker would post revenue growth of over 18% to around $44 billion. It is worth noting that the company has beaten earnings per share estimates at all times in the last two years.

“Channel work and CIO survey point to building momentum across Cloud and Hybrid solutions, which should power a strong Q1 top-line. Revenue outperformance may prove operating margins more durable than feared, driving EPS upside. Our model suggests durable high-teens EPS growth,” noted Keith Weiss, equity analyst at Morgan Stanley.

ALPHABET: The parent of Google and the world’s largest search engine that dominates internet search activity globally, Alphabet, is expected to report its third-quarter earnings of $23.75 per share, which represents year-over-year growth of about 45% from $16.4 per share seen in the same period a year ago.

The Mountain View, California-based internet giant would post revenue growth of more than 35% to around $51.4 billion. In the last two years, the company has beaten earnings per share estimates most of the time with a surprise of over 25%.

“We remain bullish on Search strength amid an ongoing ad market recovery and following our Digital ad expert check-call on 10/7, which suggested strong Search spend (despite tougher comps) as CPCs continue to drive growth. Our 3Q21 net rev. (+39% y/y), EBITDA, & EPS are all above consensus. We also expect robust Holiday spending, despite inventory issues. Maintain Outperform & $3,300 Price Target,” noted John Blackledge, equity analyst at Cowen.

“We currently forecast 13% and 14% annual gross and net revenue growth respectively’21-’26 and EBITDA growth of ~14% over the time period.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE OCTOBER 26

Ticker Company EPS Forecast
LMT Lockheed Martin $2.29
CAJ Canon $0.42
UPS United Parcel Service $2.55
CNC Centene $1.24
ST Sensata Technologies $0.83
HAS Hasbro $1.70
TRU TransUnion $0.93
IVZ Invesco $0.73
DAN Dana $0.49
SPGI S&P Global Inc $3.16
CIT CIT $1.14
PCAR PACCAR $1.21
FELE Franklin Electric $0.92
RTX Raytheon Technologies Corp $1.08
ENTG Entegris $0.87
SSTK Shutterstock $0.58
SFNC Simmons First National $0.57
GPK Graphic Packaging $0.32
SHW Sherwin-Williams $2.13
ARCC Ares Capital $0.44
HUBB Hubbell $2.37
PNR Pentair Ordinary Share $0.84
ADM Archer-Daniels Midland $0.89
WM Waste Management $1.36
ECL Ecolab $1.30
PHM PulteGroup $1.80
AWI Armstrong World Industries $1.29
ABG Asbury Automotive $6.30
GE General Electric $0.43
LOGI Logitech Internationalusa $1.05
CB Chubb $2.25
CHRW C.H. Robinson Worldwide $1.42
NOV National Oilwell Varco -$0.08
FIBK First Interstate BancSystem $0.74
EGP EastGroup Properties $0.69
HPP Hudson Pacific Properties -$0.01
FFIV F5 Networks $2.75
WSBC WesBanco $0.77
MANH Manhattan Associates $0.54
NAVI Navient $0.82
JNPR Juniper Networks $0.46
NCR NCR $0.64
WIRE Encore Wire $2.92
VIST Vista Oil Gas $0.19
AMP Ameriprise Financial $5.48
HIW Highwoods Properties $0.34
OMAB Grupo Aeroportuario Del Centro Nort $15.88
UMBF UMB Financial $1.80
DLR Digital Realty $0.24
CSGP CoStar $0.23
TWTR Twitter $0.18
ESS Essex Property $1.01
EQR Equity Residential $0.22
MASI Masimo $0.91
MSFT Microsoft $2.07
LFUS Littelfuse $3.15
V Visa $1.55
MTDR Matador Resources $0.99
GOOGL Alphabet $23.75
AAT American Assets $0.18
BXP Boston Properties $0.62
BYD Boyd Gaming $1.24
GOOG Alphabet $23.84
FBHS Fortune Brands Home Security $1.38
TRMK Trustmark $0.47
AMD Advanced Micro Devices $0.66
RRC Range Resources $0.54
UDR UDR $0.04
ROIC Retail Opportunity Investments $0.06
TXN Texas Instruments $2.05
COF Capital One Financial $5.28
PFG Principal Financial $1.59
APAM Artisan Partners Asset Management $1.32
TER Teradyne $1.43
FQVLF First Quantum Minera $0.34
PII Polaris Industries $1.96
CVLT Commvault Systems $0.57
IEX IDEX $1.59
FRME First Merchants $0.91
ENPH Enphase Energy $0.49
LLY Eli Lilly $1.96
HNP Huaneng Power International $0.69
UBS UBS Group $0.43
ORAN Orange $0.68
MSCI Msci $2.43
MMM 3M $2.20
NVS Novartis $1.64
JBLU JetBlue Airways -$0.18
GLW Corning $0.58
ACH Aluminum Of China $0.51
PPERY PT Bank Mandiri Persero TBK $0.17
XRX Xerox $0.44
DSV DSV kr13.73
BZLFY Bunzl plc $0.15
BNZL Bunzl £0.31
HTA Healthcare Of America $0.09
WTB Whitbread -£184.33
EDU New Oriental Education Tech -$0.05
AJRD Aerojet Rocketdyne $0.48
FBC Flagstar Bancorp $1.72

Wednesday (October 27)

Ticker Company EPS Forecast
SF Stifel Financial $1.48
FIX Comfort Systems USA $0.99
ALKS ALKERMES $0.06
BCO Brinks $1.02
FLS Flowserve $0.40
ALGT Allegiant Travel $0.68
PAG Penske Automotive $3.54
UMC United Microelectronics $0.20
SAN Banco Santander $0.14
DB Deutsche Bank $0.03
RJF Raymond James Financial $1.71
FORM FormFactor $0.36
APH Amphenol $0.63
GD General Dynamics $2.98
SNBR Scs Group Plc $1.43
URI United Rentals $6.83
HES Hess $0.27
BA Boeing -$0.15
EW Edwards Lifesciences $0.53
NSC Norfolk Southern $2.91
GSK Glaxosmithkline $0.78
BMRN BioMarin Pharmaceutical -$0.24
ROL Rollins $0.20
SCI Service International $0.45
EVR Evercore Partners $2.97
AVY Avery Dennison $2.04
BMY Bristol-Myers Squibb $1.93
MCD McDonalds $2.46
TEVA Teva Pharmaceutical Industries $0.65
MAS Masco $0.89
CME CME $1.56
NYCB New York Community Bancorp $0.32
SLAB Silicon Laboratories $0.15
GM General Motors $0.86
ROCK Gibraltar Industries $1.17
GGB Gerdau $0.37
BSBR Banco Santander Brasil $0.19
DTE DTE Energy $1.83
WAB Westinghouse Air Brake Technologies $1.12
TEL TE Connectivity $1.64
FISV Fiserv $1.45
TDY Teledyne Technologies $2.66
PB Prosperity Bancshares $1.37
BSX Boston Scientific $0.40
ODFL Old Dominion Freight Line $2.36
VRT Veritas Pharma $0.19
TMO Thermo Fisher Scientific $4.68
KO Coca-Cola $0.58
HOG Harley Davidson $0.78
KHC Kraft Heinz $0.58
HLT Hilton Worldwide $0.78
R Ryder System $2.09
ADP ADP $1.49
SPOT Spotify -$0.22
DT Dynatrace Holdings $0.16
OC Owens Corning $2.47
SLGN Silgan $1.04
BG Bunge $1.42
VRTS Virtus Investment Partners $9.61
GRMN Garmin $1.26
TMHC Taylor Morrison Home $1.21
SIX Swiss Exchange $1.42
AIT Applied Industrial Technologies $1.25
IP International Paper $1.41
BXMT Blackstone Mortgage $0.61
FCNCA First Citizens Bancshares $7.86
EQT EQT -$0.05
WCN Waste Connections $0.85
RE Everest Re $0.03
CHX ChampionX Corp $0.18
CNMD CONMED $0.75
PPC Pilgrim’s Pride $0.76
ALSN Allison Transmission $0.90
AXS Axis Capital -$0.49
MXL MaxLinear $0.67
IRBT Irobot $0.74
NLY Annaly Capital Management $0.27
EVTC Evertec $0.62
CINF Cincinnati Financial $0.93
CHDN Churchill Downs $1.38
MUSA Murphy USA $3.25
THG Hanover $1.25
PDM Piedmont Office Realty $0.06
PEGA Pegasystems -$0.27
CCS Century Communities $3.14
DRE Duke Realty $0.21
NOW ServiceNow $1.39
KLAC KLA-Tencor $4.52
ALGN Align Technology $2.59
AFL Aflac $1.31
KOF Coca Cola Femsa Sab De Cv $15.93
AR Antero Resources $0.31
CONE CyrusOne $0.01
CACI Caci International $4.13
FWRD Forward Air $1.07
EXR Extra Space Storage $1.24
KRC Kilroy Realty $0.34
ACGL Arch Capital $0.41
SIMO Silicon Motion Technology $1.62
CTSH Cognizant Technology Solutions $1.05
CNO CNO Financial Group $0.61
FLEX Flextronics International $0.40
MKSI MKS Instruments $2.77
NOVA Nova Mentis Life Science Corp -$0.27
MTH Meritage Homes $4.67
TROX Tronox $0.64
SIGI Selective $1.07
MC Moelis & Company $1.26
AZPN Aspen Technology $0.67
EHC Encompass Health Corp $1.06
MOH Molina Healthcare $2.80
AVB AvalonBay Communities $0.88
TYL Tyler Technologies $1.77
AGI Alamos Gold $0.11
AM Antero Midstream Partners $0.18
PLXS Plexus $1.26
MAA Mid-America Apartment Communities $0.64
F Ford Motor $0.26
EBAY eBay $0.89
ASGN On Assignment $1.46
XLNX Xilinx $0.86
ORLY O’Reilly Automotive $7.16
AEM Agnico Eagle Mines USA $0.62
VIV Telefonica Brasil $0.14
ISBC Investors Bancorp $0.31
SHI SinOPEC Shanghai Petrochemical $1.03

Thursday (October 28)

IN THE SPOTLIGHT: APPLE, AMAZON

APPLE: The consumer electronics giant would post its fiscal fourth-quarter earnings of $1.23 per share, which represents year-over-year growth of over 68% from $0.73 per share seen in the same quarter a year ago.

The iPhone manufacturer would post revenue of $84.4 billion. It is worth noting that the company has beaten earnings in all last eight quarters. It is worth noting that the company has beaten earnings per share estimates at all times in the last two years.

“Our F4Q21 and FY22 ests move higher (above consensus) on the back of positive quarter-end checks, but we don’t see earnings as a meaningful catalyst given unresolved key debates including FY22 iPhone growth and impact of App Store changes,” noted Katy Huberty, equity analyst at Morgan Stanley.

AMAZON: The eCommerce leader for physical and digital merchandise is expected to report its third-quarter earnings of $8.91 per share, which represents a year-over-year decline of about 28% from $12.37 per share seen in the same period a year ago.

The Seattle, Washington-based multinational technology giant would post revenue growth of more than 16% to around $112 billion. The company has beaten earnings per share estimates in most of the quarters in the last two years.

“The market’s unwillingness to credit what Deliveroo is doing has been brought into sharp focus with the 3Q21 trading update. The outperformance on growth and guidance alone is worth credit but doing so on unchanged unit economics is a sector-wide aspiration – the doubling of Plus subscribers in<1 month of the Amazon Prime partnership is surely a big driver here,” noted Giles Thorne, equity analyst at Jefferies.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE OCTOBER 28

Ticker Company EPS Forecast
ORI Old Republic International $0.61
MDP Meredith $0.68
MPW Medical Properties $0.29
KMPR Kemper $0.06
LOPE Grand Canyon Education $1.14
ASX Advanced Semiconductor Engineering $0.21
X United States Steel $4.70
FE FirstEnergy $0.79
KBR KBR $0.58
BUD Anheuser-Busch $0.62
RMD ResMed $1.37
LYG Lloyds Banking $0.08
STM Stmicroelectronics $0.52
KPELY Keppel Corporation $0.10
THRM Gentherm $0.72
LIN Linde PLC $2.67
WNS Wns Holdings $0.76
CAT Caterpillar $2.20
CNX Consol Energy $0.32
RS Reliance Steel & Aluminum $6.00
CBRE CBRE Group Inc $1.16
KEX Kirby $0.27
SAH Sonic Automotive $1.93
AMT American Tower $1.19
SIRI Sirius XM $0.07
TROW T. Rowe Price $3.31
VC Visteon $0.23
TW Towers Watson $0.39
TAP Molson Coors Brewing $1.54
HBAN Huntington Bancshares $0.32
HSY Hershey $2.00
AGCO AGCO $1.88
ITW Illinois Tool Works $2.00
SWI Solarwinds $0.27
CFR Cullen/Frost Bankers $1.52
GOL Gol Linhas Aereas Inteligentes -$1.07
CWT California Water Service $0.86
WLTW Willis $1.59
FCN FTI Consulting $1.48
VLY Valley National Bancorp $0.30
NOC Northrop Grumman $5.99
AVNT Avient Corp $0.68
MDC MDC $2.09
SWK Stanley Black & Decker $2.50
XEL Xcel Energy $1.18
MCO Moody’s $2.52
BC Brunswick $1.96
DQ Daqo New Energy $2.20
SAIA Saia $2.35
ALNY Alnylam Pharmaceuticals -$1.54
KDP Keurig Dr Pepper $0.44
TPX Tempur Sealy International $0.84
EXP Eagle Materials $2.71
CHKP Check Point Software Technologies $1.60
COR CoreSite Realty $0.47
NEM Newmont Mining $0.79
AEP American Electric Power $1.46
LH Laboratory Of America $4.92
COLB Columbia Banking System $0.71
AOS A.O. Smith $0.68
WST West Pharmaceutical Services $1.80
RGEN Repligen $0.64
OSTK Overstock $0.43
WEX WEX $2.28
IDA IdaCorp $1.98
LECO Lincoln Electric $1.53
GPI Group 1 Automotive $9.20
SKX Skechers USA $0.72
RSG Republic Services $1.05
ATR AptarGroup $0.94
LPLA LPL Financial $1.76
AUY Yamana Gold USA $0.08
FHI Federated Hermes Inc $0.72
AJG Arthur J. Gallagher $1.21
CUZ Cousins Properties $0.20
SPSC SPS Commerce $0.42
WRE Washington Real Estate Investment -$0.06
MSTR Microstrategy $0.57
SKYW SkyWest $0.97
INT World Fuel Services $0.34
PSB PS Business Parks $0.87
CHE Chemed $4.52
BIO Bio-Rad Laboratories $2.44
SSNC SS&C Technologies $1.20
POWI Power Integrations $0.78
DXCM Dexcom $0.64
BSMX Santander Mexico Fincl Gp Sab Decv $0.17
VALE Vale $1.26
SBCF Seacoast Banking Of Florida $0.49
HUBG HUB $1.10
STAG STAG Industrial $0.17
ZEN Zendesk $0.17
ACHC Acadia Healthcare $0.72
TEX Terex $0.74
WDC Western Digital $2.45
COLM Columbia Sportswear $1.30
PEB Pebblebrook Hotel -$0.39
GILD Gilead Sciences $1.74
TEAM Atlassian Corporation PLC $0.40
MMSI Merit Medical Systems $0.44
WERN Werner $0.96
CWST Casella Waste Systems $0.27
SM SM Energy $0.11
AVT Avnet $1.08
TXRH Texas Roadhouse $0.82
FMX Fomento Economico Mexicano Sab $17.43
SBUX Starbucks $1.00
MPWR Monolithic Power Systems $2.00
GLPI Gaming And Leisure Properties $0.60
CPT Camden Property $0.47
OFC Orate Office Properties $0.25
SGEN Seattle Genetics -$0.57
SYK Stryker $2.29
ERIE Erie Indemnity $1.73
VRSN Verisign $1.40
HIG Hartford Financial Services $0.90
AAPL Apple $1.23
EMN Eastman Chemical $2.46
LFC China Life $0.53
YMZBY Yamazaki Baking ADR $0.35
NLSN Nielsen $0.36
CG Carlyle $0.99
CMCSA Comcast $0.75
OSK Oshkosh $1.04
HOCPY Hoya Corp $0.98
YUM Yum Brands $1.09
BAX Baxter International $0.94
ABEV Ambev $0.03
SNY Sanofi $1.15
HTH Hilltop $0.82
MA Mastercard $2.18
KMTUY Komatsu $0.38
FTV Fortive Corp $0.65
CX Cemex Sab De Cv $0.17
PRFT Perficient $0.85
CARR Carrier Global Corp $0.66
LKQ LKQ $0.86
PBR Petroleo Brasileiro Petrobras $0.57
MO Altria $1.26
MRK Merck & Co $1.54
BVN Compania De Minas Buenaventura $0.25
NATI National Instruments $0.18
TFX Teleflex $3.03
ERJ Embraer -$0.13
INSM Insmed -$0.93
APELY Alps Electric $0.68
MHK Mohawk Industries $3.80
TXT Textron $0.78
AMZN Amazon $8.91
RLGY Realogy $1.16
CMS CMS Energy Corporation $0.55
ABMD Abiomed $0.98
EME EMCOR $1.77
ICE Intercontinental Exchange $1.21
ATI Allegheny Technologies -$0.03
EXPO Exponent $0.39
ABCB Ameris Bancorp $1.18
RNST Renasant $0.66
ADS Alliance Data Systems $3.48
SU Suncor Energy USA $0.59
DECK Deckers Outdoor $3.92
PTCT PTC Therapeutics -$1.75
MD Mednax $0.41
SJW SJW $0.74
DVA DaVita Healthcare Partners $2.26

Friday (October 29)

Ticker Company EPS Forecast
ABR Arbor Realty $0.43
PEXNY PTT Exploration & Production $0.16
SHLX Shell Midstream Partners $0.33
SNP China Petroleum Chemical $2.32
PSXP Phillips 66 Partners $0.95
RDY Drreddys Laboratories $0.56
NMR Nomura $0.19
PNM PNM Resources $1.18
BAH Booz Allen Hamilton $1.08
LAZ Lazard $0.94
TOTDY Toto $0.32
BBVA Banco Bilbaoizcaya Argentaria $0.17
CHD Church Dwight $0.71
CVX Chevron $2.21
ALNPY ANA Holdings ADR -$0.11
LHX L3Harris Technologies Inc $3.18
E ENI $0.73
PSX Phillips 66 $1.89
ASEKY Aisin Seiki Co $0.75
PTR Petrochina $1.86
BNPQY BNP Paribas ADR $1.03
AON AON $1.70
HUN Huntsman $0.94
CL Colgate-Palmolive $0.80
CHTR Charter Communications $5.69
GWW Grainger $5.30
BSAC Banco Santander Chile $0.49
SJR Shaw Communications USA $0.26
ABBV AbbVie $3.22
WY Weyerhaeuser $0.57
BCPC Balchem $0.83
LYB LyondellBasell Industries $5.69
POR Portland General Electric $0.66
CCJ Cameco USA -$0.02
NWL Newell Brands Inc $0.50
CERN Cerner $0.82
WPC W. P. Carey $0.55
BACHY Bank China ADR $0.67
CICHY China Construction Bank Corp $0.87
CEA China Eastern Airlines $0.66

 

About the Author

Vivek has over five years of experience in working for the financial market as a strategist and economist.

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