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Upcoming Earnings Reports to Watch: NFLX, GS, QCOM, MSFT

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Q2 earnings season is finally here, and the next few weeks promise to be extremely busy throughout the global markets. As always, these earnings reports will give us a better picture of the latest consumer trends and the overall state of the economy, which means it’s incredibly important for investors to stay tuned in right now.

But with thousands of earnings releases pouring in over the next month or so, it can be hard to keep track of when the most important companies are reporting.

With that said, investors can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.

And today, we’ve made that task even easier for you. Using the Earnings Calendar, we looked ahead to next week—one of the first truly packed weeks for earnings—and selected the biggest reports to watch. Make sure to keep an eye on these companies as they prepare to report during the week of July 17:

· Netflix (NFLX - Free Report) ) – Monday, July 17 – After Market Close

Video streaming giant Netflix is set to release its second-quarter fiscal 2017 earnings results after the bell on Monday. Our Zacks Consensus Estimates currently call for earnings of $0.16 per share and revenue of $2.76 billion, which would represent year-over-year growth rates of 74% and 31%, respectively.

The company is expected to add about 600 thousand domestic subscribers and 2.6 million international subscribers, bringing the streamer’s total membership count comfortably above 102 million. The stock is currently a Zacks Rank #2 (Buy), but with an Earnings ESP of 0%, surprise prediction is more difficult. Nevertheless, Netflix has surpassed its earnings estimates by an average of 118% in each of the trailing four quarters.


· Goldman Sachs (GS - Free Report) ) – Tuesday, July 18 – Before Market Open

Investment banking behemoth Goldman Sachs is scheduled to report its second-quarter 2017 financial results before the market opens on July 18. The Zacks Consensus Estimate for earnings sits at $3.51 per share, while our consensus revenue estimate calls for $7.57 billion. These figures would reflect year-over-year slumps of about 6% and 5%, respectively.

Last quarter, Goldman missed earnings estimates by 4.3%, partially because of lower trading revenues. That issue is expected to be a problem again, and with several negative estimate revisions dragging the stock down to a Zacks Rank #4 (Sell), this financial powerhouse is looking risky as we head towards its report.


· Qualcomm (QCOM - Free Report) ) – Wednesday, July 19 – After Market Close

Qualcomm, a leader in the global semiconductor industry, is scheduled to report is fiscal third-quarter earnings after the market closes on July 19. Despite the overall strength of the semiconductor space, our Zacks Consensus Estimates call for earnings of $0.67 per share, a 35% drop from the year-ago quarter, and revenues of $5.22 billion, a nearly 14% slump.

The company is currently locked in a heated legal battle with Apple (AAPL), and it was forced to update its guidance to exclude royalty revenues from Apple’s contract manufacturers. This has sent the company’s earnings estimates lower, which has contributed to its Zacks Rank #4 (Sell) position. Nevertheless, Qualcomm has been a consistent performer, surpassing the Zacks Consensus Estimate by an average of 14% in each of the trailing four quarters.


· Microsoft (MSFT - Free Report) ) – Thursday, July 20 – After Market Close

Software pioneer Microsoft is slated to report its fourth-quarter fiscal 2017 earnings results after the bell next Thursday. Our current Zacks Consensus Estimates call for earnings of 71 cents per share and revenues of $24.19 billion. These results would represent year-over-year growth of about 2% and 17%, respectively.

Over the past few years, Microsoft has pivoted away from a PC-minded, software sales business and towards a more cloud-focused model. The insane growth of its Azure cloud division has been well-documented, and investors can be certain that this unit will continue to be a major factor. But although the company currently has a Zacks Rank #2 (Buy), its negative Earnings ESP makes surprise prediction challenging.


Of course, these are just a few of the several hundred companies that are expected to report next week. However, these major announcements should provide investors with a better sense of how earnings season is going across the board. Make sure to check back here for our full coverage and commentary as the results start to come in!

And for more of the most important news, make sure to check out the latest episode of the Zacks Friday Finish Line podcast:

Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

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