10 Most Anticipated Earnings to Watch This Week | October 17th – 21st

💥 Third-quarter earnings season is in full swing, and investors have some high expectations as the economy opens back up! 📊 Earnings reports can be important market-moving catalysts. Fortunately, the earnings season has been very bullish so far. But will this trend continue? 🤔 👇 Here are the 10 most anticipated stocks reporting earnings this week.

Monday, October 17th

• Bank of America Corp $BAC.N – an American multinational investment bank and financial services holding company headquartered in North Carolina. The upcoming Q3 2022 earnings report could be better than the previous one by about 1.5-3%. This inspires more optimism among investors.
• Bank of New York Mellon Corp/T $ BK.N – a U.S. holding company; formed in 2007 through the merger of The Bank of New York and Mellon Financial Corporation. The company has fully met market expectations for 4 quarters in a row, increasing revenue and EPS. This time, the forecasts are slightly lower than last year’s Q2. Therefore, investors are cautiously waiting for the data.

Tuesday, October 18th

• Goldman Sachs Group Inc $GS.N – is one of the world’s largest investment banks, which is an American financial conglomerate. In Q3 2022, the company’s revenue and earnings per share may be down from the previous reporting period. This should be taken into account in the chosen trading strategies and investment tactics for the near future.
• Netflix Inc $NFLX.OQ – is an American entertainment company and a streaming service for movies and TV shows. Wall Street expects Netflix to earn $2.17 per share on revenue of $7.84 billion. This compares to the year-ago quarter, when earnings were $3.19 per share on $7.48 billion in revenue. Accordingly, the results can be mixed, with rising revenue and lower EPS. The reaction of investors may also be mixed.
• Johnson & Johnson $JNJ.N – is a U.S. holding company that leads a group of more than 250 subsidiaries worldwide that manufacture pharmaceuticals, sanitary products and medical devices. Trefis estimates J&J’s Q3 2022 revenues to be around $23.7 billion, reflecting a 2% y-o-y growth. This compares with the $23.4 billion consensus estimate. While the company’s pharmaceuticals business is expected to lead the growth, driven by market share gains for Darzalex, Erleada, and Tremfya.

Wednesday, October 19th

• Procter & Gamble Co $PG.N – is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio. We expect the company’s fiscal first-quarter total revenues to increase 0.6% year over year to $20,451.5 million and the bottom line to decline 2.6% to $1.57 per share. In the last reported quarter, the company delivered a negative earnings surprise of 1.6%. It has delivered a bottom-line beat of 1.04%, on average, in the trailing four quarters.

Thursday, October 20th

• Tesla Inc $TSLA.OQ – is an American company, and manufacturer of electric vehicles and electric energy storage solutions. Wall Street expects Tesla to earn in 3Q, 2022, $1.00 per share on revenue of $22.07 billion. This compares to the year-ago quarter when earnings came to 62 cents per share on revenue of $13.76 billion. Accordingly, the projected result could have an extremely positive effect on the company’s share price.
• Abbott Laboratories $ABT.N – founded in 1900 and headquartered in Abbott Park, Ill., this company makes and sells a range of healthcare products. Abbott Laboratories shares are down by over 27% year to date and down over 1% in the last month. As of this writing, Abbott Laboratories shares are trading at above $103, with a 52-week range of $96.67 to $142.60. Abbott Laboratories will report its earnings on October 19. According to analysts’ forecasts, the consensus EPS forecast for the quarter is $0.9. The reported EPS for the same quarter last year was $1.4.

Friday, October 21st

• American Express Co $AXP.N – is an American financial company. The company’s well-known products are credit cards, charge cards and traveler’s checks. The market expects American Express to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2022. This credit card issuer and global payments company is expected to post quarterly earnings of $2.39 per share in its upcoming report, which represents a year-over-year change of +5.3%.
• Snap Inc $SNAP.N – is an American company that owns the messenger Snapchat, as well as other products: Spectacles smart glasses, Bitmoji and Zenly services. Earning consensus estimates call for the Snapchat parent company — which has managed to turn a profit only once since going public in 2017 — to deliver a loss of $0.24 per share. That compares to a loss per share of $0.05 in the same quarter last year. Revenue is forecast to rise just 4.6% year-over-year to $1.12 billion as corporations and small businesses continue to cut back on ad spending. If confirmed, that would mark the slowest pace of annualized sales growth on record.

*Please note that dates and/or times of the release are subject to change

Don’t forget to check Big Tech Earnings To Watch on October 24 – 28