Netflix, Tesla, Johnson & Johnson… some of the world’s biggest companies are set to release their first quarter (Q1) 2023 reports later in April and May.
The release of these earnings could cause high volatility, especially in the technology sector.
In this article, we highlight the upcoming 2023 earnings season and why you shouldn’t miss out on the trading opportunities they present.
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Q1 snapshot – stocks
Q1 2023 proved to be a quarter of good fortune for many markets; traders and investors pumped millions into tech giants, a reversal from the mass sell-off during Q1 2022.
The stock market gained 6.8% in January, dropped 2.3% in February, and was up 2.3% in March.
US stocks, however, ended Q1 in bear-territory following the March banking crisis; The US stock market is down 13.5% from its last record-high set on Jan 3, 2022.
Rise of the tech sector
Technology and communication stocks, which crashed in 2022, raised the market during Q1.
Major tech stocks such as Apple are up more than 27% for the Q1 with computer graphics specialist, Nvidia, gaining an incredible 90%.
Facebook’s parent company, Meta Platforms META, rose 76% while Google’s parent company, Alphabet, gained 17% in Q1.
Earnings Season 2023 – Q1 snapshot of top companies this week (April 17-21)
Netflix (NFLX) – $332,72, +38.14% past six-months
Earnings Per Share (EPS) forecast – $2.86
Revenue forecast Q1 – $8.17B
Market cap – $376.69B
Global streaming giant Netflix is set to release its Q1 earnings on April 18. Its stock is up an incredible 38% for the past six months (2022/23) and shows the company’s gamble with advertising during streams and clamping down on account-sharing appears to be paying off.
The company has beaten its previous two earnings estimates following a poor performance in 2021 to the middle of 2022.
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Johnson & Johnson (JNJ) – $165,67, -0.20% past 6 months
Earnings Per Share (EPS) forecast – $2.5
Revenue forecast Q1 – $23.61B
Market cap – $430,48B
Healthcare giant Johnson & Johnson reaped the rewards of its COVID-19 vaccine for years. In 2023 however, its fortunes are marred by a massive talcum-powder lawsuit. The company is expected to settle with plaintiffs in an agreement worth $8.9 billion.
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Tesla (TSLA) – $194,77, -15.06% past 6 months
Earnings Per Share (EPS) forecast – $0.8577
Revenue forecast Q1 – $23.78B
Market cap – $586,08B
Tesla reported a modest 4% rise in sales in the first quarter compared to the final three months of 2022. Its share price has dropped in 2023 despite the company reportedly selling 422 875 vehicles in Q1.
Major market trends you should know
Goldman Sachs Group Inc (GS) – $339,68, +8.23% past 6 months
Earnings Per Share (EPS) forecast – $8.24
Revenue forecast Q1 – $12.83B
Market cap – $113,38B
One of the world’s oldest banking institutions will release its Q1 earnings on April 18. Goldman Sachs’ stock is up 8.23% for the past six months, showing its resilience to the banking sector crisis which rocked markets in March 2023.
International Business Machines (IBM) – $127,82, +3.97% past 6 months
Earnings Per Share (EPS) forecast – $1.27
Revenue forecast Q1 – $14.37B
Market cap – $115,95B
One of the world’s oldest tech companies is growing as IT spending continues to increase. IBM has continued to reap the benefits of companies investing in software and IT solutions. The company has achieved its previous four quarterly revenue goals.
Check out the top companies releasing their earnings in April 2023:
Company – EPS Forecast / Revenue Forecast / Market cap
Tuesday, April 18, 2023
Netflix (NFLX) – $2.88 – $8.17B – $155.11B
Wednesday, April 19, 2023
Tesla (TSLA) – $0.8566 – $23.62B – $618.27B
Nasdaq Inc (NDAQ) $0.6504 – $906.38M – $26.6B
Tuesday, April 25, 2023
Alphabet A (GOOGL) – $1.08 – $68.9B – $1.34T
Wednesday, April 26, 2023
Meta Platforms (META) – $2.01 – $27.64B – $552.41B
Thursday, April 27, 2023
Apple (AAPL) – $1.43 – $92.63B – $2.63T
Microsoft (MSFT) – $2.24 – $51.13B – $2.14T
Amazon.com (AMZN) – $0.2072 – $124.62B – $1.05T
Friday, April 28, 2023
Exxon Mobil (XOM) – $2.67 – $88.32B – $472.76B
Chevron (CVX) – $3.55 – $50.19B – $324.04B
Stay up to date on the latest market news
How earnings season works:
Earnings season is a period during which publicly traded companies release their financial results for a specific quarter. In general, companies report earnings four times per year, corresponding to the end of each quarter:
Q1: January through March
Q2: April through June
Q3: July through September
Q4: October through December
During earnings season, companies announce their financial performance for the previous quarter. This includes their revenue, earnings per share, and other financial metrics. Companies may also guide their future performance, outlining their expectations for the coming quarter or year.
Investors and analysts closely follow earnings reports to evaluate a company’s financial health and performance, as well as to gauge the potential for future growth. Earnings reports can also impact on stock prices, as investors may buy or sell shares based on the company’s financial results and guidance.
In general, earnings season kicks off several weeks after the end of each quarter, with many companies releasing their earnings reports within a few days of each other. The actual release date can vary, however, and some companies may report earnings outside of the traditional earnings season schedule.
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