Internet Earnings Preview For Jul 26: TWTR, AKAM & Others
Zacks Investment Research | Jul 25, 2016 06:33AM ET
We are in the thick of the second-quarter earnings season. As many as 1000 companies are scheduled to post their financial numbers this week, including 189 S&P 500 members.
Results till now have shown a modest improvement from the extremely weak levels over the last couple of quarters. However, growth is still non-existent. As of Friday, Jul 22, we saw Q2 results from 126 S&P 500 members that together account for 32.7% of the index’s total market capitalization. Total earnings for these members are down 1.1% from the same period last year on 2.6% lower revenues, with 70.6% beating EPS estimates and 55.6% coming ahead of top-line expectations.
Just like the other sectors, Technology is also likely to fall prey to earnings decline from the year-earlier level. Total earnings in the tech sector are expected to be down 3.0% on 2.7% higher revenues, compared to last quarter’s 4.5% earnings decline on 0.4% higher revenues. Excluding Apple (NASDAQ:AAPL), the tech sector’s earnings are anticipated to be up 3.5%. (Read more: Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.