We are halfway through the June quarter earnings season, as measured by the number of S&P 500 companies that have reported earnings.
Q2 earnings season so far: About 56% of S&P 500 companies have released their financial results, with 73% reporting earnings increases and 66% reporting revenue increases, FactSet said in its weekly Earnings Insight report. The composite earnings growth rate for S&P 500 companies in the second quarter is 6%, the lowest since 4% growth in the fourth quarter of 2020, the company said.
among the top-class beats of the past week was apple inc AAPL and Amazon, Inc. AMZN. On the other hand, Meta Platforms, Inc. META and Intel Corporation INTC gave disappointing results.
Another busy week ahead: Earnings for 152 S&P 500 companies, including 2 Dow components, will be released next week, Factset said. Notable companies scheduled for this week include:
Caterpillar, Inc. CAT
Compensation Plan: Tuesday before the market opens
EPS estimate: $3.01 vs. $2.06 a year ago
Revenue (estimated: $14.35 billion vs. $12.89 billion a year ago
Caterpillar warned in April that the COVID lockdowns in China could impact June quarter results due to weak mining demand in the country. A strong performance elsewhere could help offset that negativity
PayPal, Inc. PYPL
Compensation Plan: Tuesday before the market opens
EPS estimate: $0.86 vs. $1.15 a year ago
Revenue (estimated: $6.78 billion vs. $12.89 billion a year ago
PayPal’s shares have seen a sharp decline amid the technical downturn as former parent company eBay continues to move payment processing off its platform. The company is also facing pressure from consumers turning to offline purchases in the wake of the pandemic.
Advanced Micro Devices, Inc. AMD
Compensation Plan: Tuesday after close of business
EPS estimate: $1.03 vs. $0.63 a year ago
Revenue (estimated: $6.53 billion vs. $3.85 billion a year ago
After last week’s disappointing second-quarter earnings report from Intel, investors will likely be keen to look at AMD’s results to see…
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