First-Quarter Earnings Season Is In Progress

First-quarter earnings season continues this week after last week's reports were dominated by the big banks, with JPMorgan Chase & Co JPM, The Goldman Sachs Group Inc GS, and Morgan Stanley MS reporting record results as strong trading demand and rising interest rates fueled results. So far, corporate earnings have exceeded Wall Street's elevated expectations. This week, Netflix NFLX and Snap Inc SNAP will be among the major names reporting their first-quarter results.

On Monday, Coca-Cola KO exceeded revenue and earnings estimates as fiscal first-quarter net income amounted to $2.25 billion. IBM IBM, United Airlines UAL will report after the market closes.

On Tuesday, Johnson & Johnson JNJ, Harley-Davidson Inc HOG, Abbott Laboratories ABT, Procter & Gamble PG, Lockheed Martin LMT, Philip Morris International PM will report before the market opens. Netflix NFLX will report after the market closes. Even after The Walt Disney Company's DIS increased the price for its Disney+, its streaming service still remains cheaper than Netflix's most popular standard streaming plan. Not to mention the fact that Disney+ topped 100 million subscribers as of early March, which is about half of Netflix's more than 200 million subscribers and only within a year-and-a-half of its debut. Netflix's own subscriber guidance for its first-quarter results assumes a sharp slowdown in growth compared to the same period last year, as lockdowns fueled signups. It expects to see 6 million new subscribers for the first quarter of 2021, compared to the quarterly record of 15.8 million new paying users added in the first three months of 2020.

On Wednesday, Anthem Inc ANTM, Halliburton HAL, Verizon Communications VZ will report earnings before the market opens. Whirlpool Corporation WHR, Chipotle Mexican Grill CMG, Spirit Airlines SAVE, Las Vegas Sands LVS will follow after the market closes.

On Thursday, Alaska Air Group Inc ALK, The Blackstone Group BX, AT&T T, American Air Lines AAL, and Southwest Airlines LUV will report before the market opens. Snap and Intel Corporation INTC will join the earnings reports train after the market close.

For the social media company Snap, its operating results are expected to benefit from a pick-up in advertising spending and live events that require marketing. Wall Street is still expecting to see another strong quarter, despite a slowdown compared to 2020. Revenue is expected to grow 60% YoY to $742.13 million. Daily active users are also expected to grow another 20% to 275.3 million, which is the same margin achieved in the first quarter of 2020.

On Friday, Schlumberger Limited SLB, American Express AXP, Honeywell International Inc HON and Kimberly-Clark Corporation KMB will wrap up the week with their earnings reports.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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