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Upcoming Earnings to Watch: DIS, FOXA, SNAP

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The week of July 30 was another busy one during second-quarter earnings season. Apple (AAPL - Free Report) blew investors away on its way to its historic $1 trillion market cap, while Tesla (TSLA - Free Report) continued its polarizing ways. All of the FANG stocks have now reported, but the week of August 6 is full of big names as well.

Apple’s quarterly earnings soared by 40% to reach $2.34 per share, coming in above the Zacks Consensus Estimate. Apple’s fiscal Q3 revenues climbed 17% to hit $53.27 billion, also topping our estimate. Meanwhile, the electric car power posted a larger-than-expected quarterly loss but did surpass revenue estimates.  

Many investors are also still sorting out what to do with Facebook (FB - Free Report) and Netflix (NFLX - Free Report) going forward, while Amazon (AMZN - Free Report) and Alphabet (GOOGL - Free Report) seem poised for continued growth. But, there are still some major players set to report their quarterly earnings.

Luckily, investors can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. With that said, let’s take a look at three of the most important reports during the week of August 6.

The Walt Disney Company (DIS - Free Report)

Disney is set to officially purchase a huge chunk of 21st Century Fox’s business after Comcast (CMCSA - Free Report) bowed out of the race. The firm hopes its acquisition, which includes Fox’s film and TV studio, will help it better compete in the age of Netflix and Hulu. Furthermore, Disney will roll these key Fox assets into its own streaming service that is due out at some point in late 2019.

Shares of DIS are up roughly 12% over the last three months. And our current Zacks Consensus Estimate is calling for the company’s quarterly revenues to climb by 8.8% to hit $15.49 billion. Disney’s quarterly earnings are projected to surge by over 24% to reach $1.97 per share. However, our earnings estimate has fallen by $0.08 over the last 30 days, which means analysts are less positive about DIS than they were a few months ago.

The entertainment powerhouse is set to release its quarterly financial after the close of regular trading on Tuesday, August 7.

Twenty-First Century Fox (FOXA - Free Report)

Now let’s move onto the media company that plans to sell a large portion of its business to Disney. FOXA has seen its stock price soar nearly 60% over the last year, with much of the gains coming on the back of last November’s initial news that Disney was in pursuit. Shares of Fox have cooled slightly recently, after a strong climb during the last three months.

The company is expected to see its quarterly earnings skyrocket by over 47% to $0.53 per share. FOXA’s revenues are projected to hit $7.75 billion, which would mark a nearly 15% climb from the year-ago period. This is rather impressive for a company of its age and size. Plus, Rupert Murdoch’s firm has topped quarterly earnings estimates in seven out of the last eight periods.

Fox is set to report its quarterly earnings results after the closing bell on Wednesday, August 8.

Snap Inc. (SNAP - Free Report)

Snap has the unfortunate burden of following Facebook and Twitter (TWTR - Free Report) , which both disappointed investors recently. This could turn into a positive for the struggling social media company since a strong report might look better by comparison, but shares of SNAP are down roughly 8% over the last six months.

Snapchat has failed to gain the traction that many investors hoped, and has fallen victim to Instagram’s growing popularity. Luckily, the company is expected to see its revenues soar over 38% to hit $251.71 million. Yet, at the other end of the income statement, SNAP is projected to post another quarterly loss, this time of $0.17 per share, which would mark over a 6% decline from the year-ago period.

Snap is set to report its Q2 financial results after market close on Tuesday, August 7.

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