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- Tech giant Apple and Warren Buffett’s Berkshire Hathaway are among the large-cap companies announcing quarterly earnings in the week starting July 29.
- The week comes after positive quarterly reports from Facebook and Hasbro. Ford and PayPal were among the companies that upset investors by lowering yearly forecasts.
- Visit the Markets Insider homepage for more stories.
Coming off a week that included earnings reports from Facebook, Google, Tesla, and several other heavyweights, the last week of July has plenty more in store.
Here’s what to look for when Apple, Berkshire Hathaway, ExxonMobil, Mastercard and five other elite and heavily weighted companies announce their latest quarterly earnings. All estimates are sourced from Bloomberg.
Amgen (AMGN) — July 30
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Biotech giant Amgen raised the lower end of its guidance after its first-quarter report, citing demand for recently launched products and a faster development ramp-up than anticipated.
The company is in the middle of a portfolio shift, investing in its next set of signature drugs as its older products are phased out. Its pipeline includes treatments for osteoporosis and Alzheimer’s disease, with six drugs currently in "Phase Three" and being tested on large populations.
Amgen’s second-quarter report should shed light on how its drug developments are coming along and whether it can continue to lean on its newer treatments to drive its pipeline forward. Analysts will also look for detail on how the company’s Sensipar treatment is keeping market share amidst the introduction of generic competition.
Here are Wall Street’s quarterly estimates heading into the week:
- Revenue: estimated $5.67 billion, versus $6.06 billion in the same period last year
- Earnings per share (adjusted): estimated $3.58, versus $3.83 in the same period last year
Apple (AAPL) — July 30
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Hot off the news that it’s acquiring Intel’s modem business, Apple now needs to prove whether its slowing iPhone sales can recover and if its Services sector can maintain its robust growth.
Apple’s last quarterly report saw sales fall 5%, with a 17% decline in iPhone revenue. The company has struggled to sell its phones in China and India as the trade war and high prices overseas help competitors sweep up market share.
The company reportedly asked for tariff exemptions for its new Mac Pro product to avoid greater trade-war fallout, but President Trump declined the request Friday.
Be sure to check the company’s iPhone sales and Services growth once the report is out. Analysts say the Services business — which includes iCloud, Apple Music, and the App Store, among other apps — could make up for lagging computer and phone sales, so any large decline in that sector can spell danger for the company’s future revenue stream.
Here are Wall Street’s quarterly estimates heading into the week:
- Revenue: estimated $53.33 billion, versus $53.27 billion in the same period last year
- Earnings per share (GAAP): estimated $2.10, versus $2.34 in the same period last year
Mastercard (MA) — July 30
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The combination of low unemployment, a strong US economy, and robust consumer confidence should play well for Mastercard heading into second-quarter earnings. Analysts expect the company’s double-digit growth for digital payments to continue and help offset increased marketing costs.
The company may also detail its expectations for the Apple Card, a Mastercard collaboration the tech company is likely to release in August in partnership with Goldman Sachs. Mastercard may also continue its share buyback program from the first quarter of 2019, when it repurchased roughly 8.7 million shares worth about $1.8 billion.
Mastercard also has a penchant for stronger-than-expected quarterly results. The company has surpassed analyst estimates each quarter since the second quarter of 2015, with an average beat of 6.46%, according to Bloomberg data.
Here are Wall Street’s quarterly estimates heading into the week:
- Revenue: estimated $4.08 billion, versus $3.67 billion in the same period last year
- Earnings per share (adjusted): estimated $1.83, versus $1.66 in the same period last year
See the rest of the story at Business Insider
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Source: Business Insider – feedback@businessinsider.com (Ben Winck)