Netflix, Tesla, Johnson & Johnson… some of the worldโs biggest companies are set to release their first quarter (Q1) 2023 reports later in April and May.ย ย
The release of these earnings could cause high volatility, especially in the technology sector.ย ย
In this article, we highlight the upcoming 2023 earnings season and why you shouldnโt miss out on the trading opportunities they present. ย
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Q1 snapshot – stocksย ย ย ย
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.ย ย ย ย ย ย ย
The stock market gained 6.8% in January, dropped 2.3% in February, and was up 2.3% in March.ย ย
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.ย ย ย ย ย ย ย
Rise of the tech sectorย ย
Technology and communication stocks, which crashed in 2022, raised the market during Q1.ย ย ย ย ย
Major tech stocks such as Apple are up more than 27% for the Q1 with computer graphics specialist, Nvidia, gaining an incredible 90%.ย ย ย ย ย ย
Facebookโs parent company, Meta Platforms META, rose 76% while Googleโs parent company, Alphabet, gained 17% in Q1.ย ย ย ย
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Earnings Season 2023 โ Q1 snapshot of top companies this week (April 17-21) ย
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Netflix (NFLX) – $332,72, +38.14% past six-months ย
Earnings Per Share (EPS) forecast – $2.86ย ย ย
Revenue forecast Q1 – $8.17B ย
Market cap – $376.69B ย
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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.ย ย
The company has beaten its previous two earnings estimates following a poor performance in 2021 to the middle of 2022.ย ย
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Johnson & Johnson (JNJ) – $165,67, -0.20% past 6 months ย
Earnings Per Share (EPS) forecast – $2.5ย ย ย ย
Revenue forecast Q1 – $23.61Bย ย
Market cap – $430,48B ย
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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. ย
Stay up to date on the latest market newsย ย ย ย ย ย ย ย ย ย
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Tesla (TSLA) – $194,77, -15.06% past 6 monthsย ย
Earnings Per Share (EPS) forecast – $0.8577 ย
Revenue forecast Q1 – $23.78Bย ย
Market cap – $586,08Bย ย
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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.ย ย ย
Major market trends you should knowย ย ย
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Goldman Sachs Group Inc (GS) – $339,68, +8.23% past 6 monthsย ย
Earnings Per Share (EPS) forecast – $8.24 ย
Revenue forecast Q1 – $12.83B ย
Market cap – $113,38Bย ย
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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. ย
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International Business Machines (IBM) – $127,82, +3.97% past 6 monthsย ย
Earnings Per Share (EPS) forecast – $1.27 ย
Revenue forecast Q1 – $14.37B ย
Market cap – $115,95B ย
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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. ย
ย Check out the top companies releasing their earnings in April 2023:ย ย
Company โ EPS Forecast / Revenue Forecast / Market capย ย
Tuesday, April 18, 2023ย ย
Netflix (NFLX) – $2.88 – $8.17B – $155.11Bย ย
Wednesday, April 19, 2023ย ย
Tesla (TSLA) – $0.8566 – $23.62B – $618.27Bย ย
Nasdaq Inc (NDAQ) $0.6504 – $906.38M – $26.6B ย ย ย
Tuesday, April 25, 2023ย ย
Alphabet A (GOOGL) – $1.08 – $68.9B – $1.34Tย ย
Wednesday, April 26, 2023ย ย
Meta Platforms (META) – $2.01 – $27.64B – $552.41Bย ย
Thursday, April 27, 2023ย ย
Apple (AAPL) – $1.43 – $92.63B – $2.63T ย ย
Microsoft (MSFT) – $2.24 – $51.13B – $2.14T ย ย
Amazon.com (AMZN) – $0.2072 – $124.62B – $1.05Tย ย
Friday, April 28, 2023ย ย
Exxon Mobil (XOM) – $2.67 – $88.32B – $472.76B ย ย
Chevron (CVX) – $3.55 – $50.19B – $324.04Bย ย
Stay up to date on the latest market newsย ย ย ย ย ย ย ย ย
How earnings season works:ย ย
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:ย ย ย
Q1: January through Marchย ย
Q2: April through Juneย ย
Q3: July through Septemberย ย
Q4: October through Decemberย ย ย
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.ย ย ย
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.ย ย ย
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.ย
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