Netflix, Tesla earnings: What to know in markets this week
This week, earnings season is set to ramp up, offering investors a fresh set of data on the strength of corporate profits in the face of elevated inflationary pressure.
Two of the major names reporting this week will include Netflix (NFLX) and Tesla (TSLA), offering an early look at how some of the mega-cap technology companies performed in the early part of the year.
The other names set to report this week will span a range of industries, broadening out from last week's bank-dominated results. Companies including United Airlines (UAL), American Express (AXP), Johnson & Johnson (JNJ) and Kimberly-Clark (KMB) are each on deck to report in the coming days.
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For earnings season so far, results have been mixed, albeit heavily skewed toward the slew of financial names that reported last week including JPMorgan Chase (JPM) and Goldman Sachs (GS). About 7% of S&P 500 index components have reported actual Q1 results so far, and 77% of these have topped Wall Street's earnings per share (EPS) estimates, matching the five-year average percentage, according to data from FactSet. The estimated earnings growth rate for the index currently stands at 5.1%, which if carried through the rest of the season would mark the lowest earnings growth rate for the index since the fourth quarter of 2020.
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