How Alphabet (GOOGL) Stock, Meta (META) Stock, Snap Stock, And Amazon Stock May React During Earnings - A

RBC Capital analyst Brad Erickson summarized the key debates heading into the Q2 internet earnings season
While recent stories suggest fluid consumer trends, his SMB checks since last earnings suggested meaningful, proactive, downward SMB spending decisions to which these companies have exposure.
While he thought Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Meta Platforms Inc's (NASDAQ:META) headwinds were likely not as severe as Snap Inc's (NYSE:SNAP), he expected SMB proactivity to weigh incrementally on 2H outlooks.
For Amazon.com Inc (NASDAQ:AMZN), Prime Day's slight outperformance highlighted a more resilient consumer, but he continues to expect 2H EBIT estimates to come down.
For Upwork Inc (NASDAQ:UPWK) & Squarespace, Inc (NYSE:SQSP), while FY guidance likely included a cushion, he did not expect any upside to 2H guidance based on his recent checks suggesting new business formation is trending slightly worse than seasonal.
In rank order, expectations seem lowest for SNAP (Sector Perform, $17 PT), META (Outperform, $200 PT), UPWK (Sector Perform, $21 PT), AMZN (Outperform, $144 PT), GOOGL (Outperform, $135 PT) & SQSP (Sector Perform, $22 PT).
Price Action: SNAP shares traded higher by 7.49% at $15.21 on the last check Wednesday.
Photo by Souvik Banerjee from Pixabay