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Upcoming Tech Earnings to Watch: Workday, Broadcom, & Palo Alto Networks

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We are nearing the close of second-quarter earnings season, but there are still some pretty well-known technology firms that are scheduled to report their quarterly financial results after the long Labor Day weekend.

The last few months have been particularly strong for both retailers and tech companies, with everyone from Target (TGT - Free Report) to Apple (AAPL - Free Report) reporting impressive quarterly results. The week of August 27 saw the likes of Lululemon (LULU - Free Report) shine, while Salesforce’s (CRM - Free Report) quarterly revenues surged by 27%.

But there are still some important technology players left to report that investors might want to pay close attention to. 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 biggest tech earnings reports due out during the week of September 3.

Workday (WDAY - Free Report)

Shares of Workday have surged over 22% in the last month in a sign that investors might expect big things from the firm’s Q2 financial results. Plus, the company, which provides enterprise cloud solutions for human resources and finance, has seen its stock price climb over 41% in the last 12 months on the back of solid growth.

Our current Zacks Consensus Estimate is calling for Workday’s Q2 revenues to jump by roughly 26.2% to hit $663.08 million. Meanwhile, the firm’s adjusted quarterly earnings are expected to hit $0.26 per share, which would mark an 8.3% jump. Better yet, Workday’s fiscal year earnings are projected to soar over 23%. Investors should note that WDAY is currently a Zacks Rank #3 (Hold) that sports an “A” grade for Growth in our Style Scores system.

Workday is set to announce its Q2 financial results after the market closes on Tuesday, September 4.

Broadcom (AVGO - Free Report)

Broadcom designs and sells a wide range of digital and analog semiconductor connectivity solutions. Yet, while chip giants such as Nvidia (NVDA - Free Report) and Micron (MU - Free Report) gain momentum, shares of AVGO have sunk over 13% in the last year. Broadcom stock has also plummeted 15% in the last three months on the back of its July announcement that it is set to purchase CA Technologies for $18.9 billion in cash.

The firm, which saw its most recent quarterly revenues surge 20%, is projected to see its fiscal Q3 revenues jump 13.4% to reach $5.06 billion. At the other end of the income statement, AVGO is expected to see its adjusted quarterly earnings hit $4.83 per share, which would mark a nearly 18% surge. Broadcom is also currently a Zacks Rank #3 (Hold) that rocks a “B” grade for Value in our Style Scores system.

The San Jose, California-based company is scheduled to report its fiscal third-quarter financial results after the closing bell on Thursday, September 6.

Palo Alto Networks (PANW - Free Report)

Palo Alto Networks is a global cyber security firm that is currently a Zacks Rank #3 (Hold) and boasts an “A” grade for Growth in our Style Scores system. The firm has seen its stock price take off over the last 12 months, up roughly 57%. Plus, shares of PANW have surged over 15% in the last month in the lead up to the release of Palo Alto Network’s Q4 and fiscal 2018 financial results.  

Our current estimates are calling for Palo Alto’s quarterly revenues to climb by approximately 24.4% to hit $633.19 million, with its full-year revenues expected reach $2.25 billion. The firm’s adjusted EPS figure is expected to expand by just over 27% to touch $1.17 per share this quarter. Meanwhile, investors should be even more pleased to see that PANW’s full-year earnings are expected to soar over 43% to touch $3.88 per share.

Palo Alto Networks is set to release its Q4 and fiscal 2018 financial results after markets close on Thursday, September 6.

*A previous version of this article mentioned PAWN instead of PANW as the ticker symbol for Palo Alto Networks. This has been corrected to PANW.*

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