This week, major tech companies in the so-called “Magnificent 7” are reporting earnings, with Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT), and Meta (META) set to announce results on April 29, followed by Apple (AAPL) on April 30. Alphabet is expected to report earnings of $2.64 per share on revenues of $92.2 billion, marking a year-over-year change of -6.1% in earnings but a +20.6% rise in revenues. The company’s cloud revenue, which grew by 48% in the previous quarter, is anticipated to continue its upward momentum.
Microsoft, on the other hand, is projected to see EPS of $4.07 on revenues of $81.4 billion, reflecting growth rates of +17.6% for earnings and +16.2% for revenue. Overall, the Magnificent 7 group is expected to report a 20.3% increase in total Q1 earnings and a 22% rise in revenues.
As of April 24, 138 S&P 500 companies have reported, showing a 23.1% increase in earnings year-over-year along with a 9.6% rise in revenues. This week will see nearly 800 companies, including 178 S&P 500 members, reporting their results.
