The third quarter earnings season is in full swing, with 29% of S&P 500 companies reporting results so far, showing a positive start. Analysts are expecting a 9.2% jump in earnings per share, marking the ninth straight quarter of positive earnings growth.
This week, Big Tech companies like Microsoft, Alphabet, Meta, Apple, and Amazon are among the key players reporting results. Other notable companies include Boeing, Visa, Starbucks, and UnitedHealth Group.
Keurig Dr. Pepper stock surged 9% after raising its full-year sales forecast and beating revenue expectations. Procter & Gamble stock rose 3% post-surprise earnings beat. Sanofi profits exceeded forecasts despite vaccination concerns.
Deckers Outdoor Corporation shares fell over 8% due to a lackluster earnings forecast. Intel stock jumped as chip demand surged. Blackstone reported earnings below expectations, but fee-related earnings saw a 26% increase.
Lam Research’s upbeat revenue was driven by chipmaking tools demand, while Union Pacific reported a slight earnings beat despite slowing freight volumes. American Airlines posted better-than-expected Q3 results, with record revenue.
T-Mobile’s Q3 earnings beat estimates, with solid customer additions. Hasbro boosted annual forecasts on digital gaming demand. Honeywell raised its profit outlook despite a spinoff. STMicro forecast lower Q4 sales, and Nokia saw a profit beat.
IBM’s revenue climbed 9.1%, driven by AI demand, but the stock fell despite beating quarterly estimates. Tesla reported an earnings miss, causing stock to drop in after-hours trading. Southwest Airlines unexpectedly posted a profit in Q3, with record revenue.
Early US earnings indicate the best corporate results in 4 years. Investors are closely watching the slew of earnings reports across various sectors for insights into the market’s performance.
Read more at Yahoo Finance: Keurig Dr. Pepper stock pops as investors await Big Tech earnings from Apple, Google, and more
