Tesla, Twitter and Goldman Among Current Week's Top Earners: Here Are the Top Earnings Ahead

The June quarter reporting season is entering its second week, with the focus gradually shifting from banks to technology companies.

Earnings Season – So Far: About 7% of S&P 500 companies have reported earnings so far and 60% of those companies have reported positive earnings per share surprises , said Factset in its weekly Earnings Insight report. This is below the five-year average of 77%.

The week ahead will see earnings releases from 73 S&P 500 companies, including seven Dow 30 companies, the report added.

Things to watch for the week of July 18:

Big banks Goldman Sachs Group, Inc. GS and Bank of America Corporation BAC are due to announce their respective quarterly results on Monday. Goldman will send out the press release at 7:30 a.m. ET and host the earnings call at 9:30 a.m. ET. Goldman's EPS is expected to be halved to $7.25 and revenue is expected to have fallen 29.30% year-over-year to $10.88 billion. Peer BofA will host its earnings call at 8:30 a.m. ET. The company's EPS may have declined to $0.78 from $1.03 a year ago, but revenue may have increased about 4% to $22.67 billion. Their peers, which released last week, posted mixed quarterly results. International Business Machines Corporation IBM is kicking off the season for technology reports, with earnings expected after the market closes on Monday. Analysts expect EPS to fall to $2.28 from $2.33 in the second quarter of 2021. Revenue is expected to have fallen 19% to $15.19 billion. Netflix, Inc. NFLX will release its second quarter results after the market closes on Tuesday. After a massive loss in net subscriber additions in the first quarter, the streaming giant announced several measures to stem the rot. The publication of the results and the call for results scheduled for 6 p.m. ET will provide information on the progress of the plans. The consensus estimate calls for EPS to remain virtually unchanged at $2.96 and revenue to rise 9.50% to $8.04 billion.

Related Link: 2Q Earnings Season: Likely Lower Energy; Here are the leading and lagging S&P 500 sectors

Healthcare giant Johnson & Johnson JNJ is due to report second-quarter results before market open on Tuesday. The earnings call will take place at 8:30 a.m. ET. Analysts on average expect the company to post EPS of $2.57, down from $2.48 a year ago, and revenue to rise just 2% to $23.81 billion. dollars. Other big pharma companies to report include Novartis AG NVS and Biogen, Inc. BIIB. Tesla, Inc. TSLA is expected to report its June quarter results after the market closes on Wednesday. The call for results is set for 5:30 p.m. AND. Tesla deliveries took a hit in the quarter due to COVID lockdowns in China during the quarter. Expectations are muted, but analysts expect the electric vehicle giant to come back strong in the rest of the year. Sales growth is estimated at more than 44% to reach $17.28 billion. AT&T, Inc. T and Verizon Communications, Inc. VZ are expected to release results this week. AT&T, a telecommunications and media conglomerate, will release its quarterly results before markets open on Thursday. Peer, Verizon, is due to report second-quarter results at 7:30 a.m. EST Friday. The telecommunications company...