Second quarter earnings due from tech giants
Apple, Twitter, Google and Facebook have results out this week
Google’s parent company Alphabet has results out after the close on Thursday, with analysts forecasting the company report earnings of $8.06 per share for the current fiscal quarter, an increase of 15 per cent. Photograph: Eric Gaillard/Reuters
Apple and Twitter are set to report their quarterly results on Tuesday, with Alphabet’s result out on Thursday. Facebook is expected to announce its second quarter earnings on Wednesday.
Analysts expect the social network to post earnings per share of $0.81, up 62 per cent year over year, with revenue up 50 per cent to $6 billion.
Facebook’s adjusted earnings for the same period last year came in at 50 cents per share on revenues of $4.04 billion.
Wall Street analysts had forecast Facebook to deliver earnings of 47 cents per share on $3.99 billion in revenue.
In April this year, the social network reported adjusted first quarter earnings of 77 cents per share on revenue of about $5.38 billion, better than analyst expectations.
Analysts are expecting a 25 per cent year over year decline in Apple’s earnings per share. Analysts have been revising their earnings expectations downwards, with consensus earnings estimates now at $1.39 per share.
Alphabet reports results after the close on Thursday, with analysts forecasting the company to report earnings of $8.06 per share for the current fiscal quarter, an increase of 15 per cent.
Revenue is expected to be up 17 per cent at $20.75 billion.
Twitter also reports after close this Tuesday, with analysts expecting earnings per share of $0.10 on revenues of $606.6 million.