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“Post-Market Earnings Summary: Key Financial Results from MSFT, META, AMGN, and More (October 30, 2024)”

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Major Companies Prepare to Unveil Earnings on October 30, 2024

Several notable corporations are set to announce their quarterly earnings after the market closes on October 30, 2024. For a complete list of earnings releases, check our Earnings Calendar.

Microsoft Corporation (MSFT)

Microsoft is expected to report earnings for the quarter ending September 30, 2024. Analysts predict a consensus earnings per share of $3.08, reflecting a slight increase of 3.01% from the previous year. Notably, Microsoft has consistently exceeded expectations in the past year, with the most significant beat occurring in the second quarter, where it surpassed consensus by 1.72%. According to Zacks Investment Research, Microsoft’s 2025 Price to Earnings (P/E) ratio stands at 33.18, compared to an industry average of 29.70, suggesting stronger earnings growth among its peers.

Meta Platforms, Inc. (META)

Meta is also scheduled to report for the same quarter. The consensus forecast for earnings per share sits at $5.19, marking an impressive 18.22% increase from last year. Like Microsoft, Meta has outperformed expectations every quarter this past year, with the highest exceeding expectations by 9.79% in the second quarter. Zacks indicates that META’s 2024 P/E ratio is 27.63, while its industry ratio is substantially higher at 973.40.

Amgen Inc. (AMGN)

Amgen, the biomedical company, is projected to earn $5.11 per share for the quarter ending September 30, 2024, reflecting a 3.02% increase year-over-year. The company has consistently beaten expectations, with a 0.81% overestimate in the second quarter. Zacks reports a 2024 P/E ratio for Amgen of 16.22 against an industry ratio of -6.60, indicating expected stronger earnings growth.

Booking Holdings Inc. (BKNG)

Booking Holdings is anticipated to announce earnings of $77.94 per share. This figure represents a 7.77% increase when compared to the same quarter last year. The company has maintained a record of exceeding expectations, recording a 6.37% margin above consensus in the second quarter. Zacks places BKNG’s 2024 P/E ratio at 24.96, below the industry average of 49.60.

Starbucks Corporation (SBUX)

Starbucks forecasts an earnings per share of $0.80 for the same quarter; however, this reflects a decrease of 24.53% compared to last year. According to Zacks, Starbucks’ 2024 P/E ratio is 29.16, lower than the industry benchmark of 44.90.

KLA Corporation (KLAC)

KLA is expected to report earnings of $7.03 per share, a significant increase of 22.47% year-over-year. The company has a strong history of beating expectations, with an 8.55% margin in its most recent quarter. Zacks indicates KLAC’s 2025 P/E ratio is 23.95, against an industry average of 20.00, highlighting anticipated lower performance compared to its industry peers.

Equinix, Inc. (EQIX)

Equinix is projecting an earnings per share of $7.70, a slight decrease of 5.98% compared to last year. Historically, the company has outperformed expectations, with a notable 17.01% margin in the second quarter. Zacks cites EQIX’s 2024 P/E ratio at 29.21 versus an industry average of 14.90.

Aflac Incorporated (AFL)

Aflac’s consensus forecast of $1.70 for earnings per share represents a 7.61% drop from last year. The company did not meet the consensus in the fourth quarter of 2023, falling short by 14.97%. Zacks reports Aflac’s 2024 P/E ratio at 16.11 compared to an industry ratio of -19.20.

DoorDash, Inc. (DASH)

DoorDash’s anticipated earnings per share stands at $0.21, indicating a remarkable increase of 210.53% year-over-year. Zacks reports the projected P/E ratio for 2024 is an extraordinary 15,520.00, compared to 441.10 in its industry.

MetLife, Inc. (MET)

MetLife forecasts earnings of $2.16 per share, reflecting a 9.64% increase from the prior year. According to Zacks, the company’s 2024 P/E ratio is 9.65, significantly below the industry average of 42.90.

Public Storage (PSA)

Public Storage expects to announce earnings of $4.25 per share, which is a 1.85% decrease year-over-year. The company missed its earnings forecast in the first quarter of 2024 by 0.98%. Zacks indicated PSA’s 2024 P/E ratio is 19.80 versus an industry ratio of 13.60.

Allstate Corporation (ALL)

Allstate is projected to report earnings of $2.20 per share, representing a significant 171.60% increase from the same quarter last year. In recent quarters, Allstate has consistently surpassed expectations, achieving a remarkable 387.88% above consensus in the second quarter. Zacks notes that the P/E ratio for Allstate stands at 13.18 compared to an industry average of 16.20.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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