Disney Leads Media Earnings This Week As Reporting Season Moves Past The Peak

Zinger Key Points
  • About three-fourth of S&P 500 companies have reported earnings ahead of expectations
  • 87% of the index components have reported thus far
  • Key earnings releases for the unfolding week include those from Disney, Fox Corporation, Coinbase, AIG and Palantir
Disney Leads Media Earnings This Week As Reporting Season Moves Past The Peak

We are past the peak of earnings season, and about 87% of the S&P 500 companies have already released their quarterly numbers, FactSet reports.

About 75.6% of the S&P 500 companies have reported above-consensus earnings, according to Benzinga Pro data. The percentage of beat drops to about 63% when all companies are included.

A look back at the past week’s earnings trend shows that Advanced Micro Devices, Inc. AMD disappointed with its below-par third-quarter revenue guidance. Chinese e-commerce giant Alibaba Group Holding Limited BABA reported flat revenue performance for the first time ever.

Here are the key earnings scheduled for the unfolding week:

Tyson Foods, Inc. TSN

  • Earnings Schedule: Monday, before the market open
  • EPS Estimate: $1.97 Vs. $2.70 a year ago
  • Revenue Estimate: $13.24 billion Vs. $12.47 billion a year ago

Tyson Foods is expected to report modest revenue growth but input cost pressure may weigh down on its bottom-line.

BioNTech SE BNTX

  • Earnings Schedule: Monday, before the market open
  • EPS Estimate: $7.36 Vs. $12.97 a year ago
  • Revenue Estimate: $4.09 billion Vs. $6.39 billion a year ago

Expectations are running high for BioNTech, especially after its U.S. partner Pfizer, Inc. PFE reported strong COVID vaccine revenue in the second quarter. The U.S. company raked in $8.5 billion from the sales of Comirnaty.

Palantir Technologies, Inc. PLTR

  • Earnings Schedule: Monday, before the market open
  • EPS Estimate: 3 cents Vs. 4 cents a year ago
  • Revenue Estimate: $471.34 million Vs. $376 million a year ago

Related Link: Will The S&P 500 Finish Higher In 2022? Here's What Analysts Predict

Novavax, Inc. NVAX

  • Earnings Schedule: Monday, after the close
  • EPS Estimate: $5.5 Vs. (-$4.75) a year ago
  • Revenue Estimate: $1.02 billion Vs. $298 million a year ago

With the COVID-19 vaccine revenue finally flowing, Novavax is expected to report a profit as opposed to a loss a year ago. Investor focus is likely to rest on vaccine revenue and also commentary on uptake.

American International Group, Inc. AIG

  • Earnings Schedule: Monday, after the close
  • EPS Estimate: $1.10 Vs. $1.52 a year ago
  • Revenue Estimate: $11.25 billion Vs. $11.27 billion a year ago

News Corporation, Inc. NWSA NWS

  • Earnings Schedule: Monday, after the close
  • EPS Estimate: 7 cents Vs. 16 cents a year ago
  • Revenue Estimate: $2.59 billion Vs. $2.49 billion a year ago

Norwegian Cruise Line Holdings Ltd. NCLH

  • Earnings Schedule: Tuesday, before the market open
  • EPS Estimate: (-86 cents) Vs. (-$1.93) a year ago
  • Revenue Estimate: $1.26 billion Vs. $4.37 billion a year ago

Coinbase Global, Inc. COIN

  • Earnings Schedule: Tuesday, after the close
  • EPS Estimate: (-$2.68) Vs. $6.42 cents a year ago
  • Revenue Estimate: $830.52 million Vs. $1.78 billion a year ago

The downturn in cryptocurrencies may have hurt trading volume at Coinbase, potentially resulting in a decline in revenue. The company’s shares recently received a shot in the arm from the partnership it announced with BlackRock, Inc. BLK for the latter’s institutional clients getting direct access to Coinbase's trading custody,

Fox Corporation FOXA FOX

  • Earnings Schedule: Wednesday, before the market open
  • EPS Estimate: 49 cents Vs. 54 cents a year ago
  • Revenue Estimate: $7.84 billion Vs. $7.42 billion a year ago

Walt Disney Company DIS (Q3 results)

  • Earnings Schedule: Wednesday, after the close
  • EPS Estimate: $1.0 Vs. 69 cents a year ago
  • Revenue Estimate: $20.49 billion Vs. $17.0 billion a year ago

Disney’s results could be watched closely to see whether the economic travails have impacted attendance at its theme parks. The focus will also be on Disney+ streaming service’s subscriber growth trends.

Roblox, Inc. RBLX

  • Earnings Schedule: Wednesday, after the close
  • EPS Estimate: (-0.26 cents) Vs. (-25 cents) a year ago
  • Revenue Estimate: $645 million Vs. $454.1 million a year ago

Photo: Courtesy of Scott Beale on flickr

Posted In: EarningsNewsTech