Apr 19, 2021 (IAM Newswire via COMTEX) -- First-quarter earnings season continues this week after last week’s reports were dominated by the big banks, with JPMorgan Chase & Co /zigman2/quotes/205971034/composite JPM +0.34% , The Goldman Sachs Group Inc /zigman2/quotes/209237603/composite GS +1.34% and Morgan Stanley /zigman2/quotes/209104354/composite MS +1.00% 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 /zigman2/quotes/202353025/composite NFLX +0.86% and Snap Inc /zigman2/quotes/205087158/composite SNAP +4.01% will be among the major names reporting their first quarter results.
On Monday, Coca-Cola (NYSE KO) exceeded revenue and earnings estimates as fiscal first-quarter net income amounted to $2.25 billion. IBM /zigman2/quotes/203856914/composite IBM -0.90% , United Airlines /zigman2/quotes/205037281/composite UAL +3.17% will report after the market closes.
On Tuesday, Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +0.45% , Harley-Davidson Inc /zigman2/quotes/207565294/composite HOG +1.53% , Abbott Laboratories /zigman2/quotes/203724446/composite ABT +0.13% , Procter & Gamble /zigman2/quotes/202894679/composite PG +0.0074% , Lockheed Martin /zigman2/quotes/200691238/composite LMT +0.77% , Philip Morris International /zigman2/quotes/201611010/composite PM +0.61% will report before the market opens. Netflix /zigman2/quotes/202353025/composite NFLX +0.86% will report after the market closes. Even after The Walt Disney Company's /zigman2/quotes/203410047/composite DIS +1.68% 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 /zigman2/quotes/203808743/composite ANTM +2.02% , Halliburton /zigman2/quotes/210488727/composite HAL +3.52% , Verizon Communications /zigman2/quotes/204980236/composite VZ -0.96% will report earnings before the market opens. Whirlpool Corporation /zigman2/quotes/200296850/composite WHR +1.09% , Chipotle Mexican Grill /zigman2/quotes/200781108/composite CMG +1.04% , Spirit Airlines /zigman2/quotes/205782179/composite SAVE +1.50% , Las Vegas Sands /zigman2/quotes/208792014/composite LVS +0.75% will follow after the market closes.
On Thursday, Alaska Air Group Inc /zigman2/quotes/200972303/composite ALK +1.28% , The Blackstone Group /zigman2/quotes/203156858/composite BX +1.94% , AT&T /zigman2/quotes/203165245/composite T -0.77% , American Air Lines /zigman2/quotes/209207041/composite AAL +2.37% and Southwest Airlines /zigman2/quotes/201071949/composite LUV +1.60% will report before the market opens. Snap and Intel Corporation /zigman2/quotes/203649727/composite INTC +0.84% 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 /zigman2/quotes/201012972/composite SLB +3.77% , American Express /zigman2/quotes/203805826/composite AXP +1.34% , Honeywell International Inc /zigman2/quotes/205583690/composite HON +0.06% and Kimberly-Clark Corporation /zigman2/quotes/201766540/composite KMB -0.46% will wrap up the week with their earnings reports.
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