AstraZeneca net profit rises 2%, kicking off earnings week with Big Tech ahead
This digest was compiled by AI from multiple sources — links to the originals are below.
AstraZeneca reported a 2% rise in second-quarter net profit and a 6% increase in revenue, according to Kapital.kz. Its stock gained on Monday, launching a packed earnings week that will feature reports from Microsoft, Meta, Apple, and Amazon. The reports arrive as analysts project S&P 500 earnings to grow 23.2% year-over-year, well above the five-year average of 16.4%.
AstraZeneca Results
AstraZeneca’s second-quarter net profit increased 2% to $2.6 billion while revenue climbed 6% to $14.3 billion, Kapital.kz reported. The pharmaceutical giant’s shares rose on Monday, setting a positive tone at the start of a busy earnings week, Yahoo Finance noted. The company is the first major European firm to report this week, alongside US steel producer Nucor.
Earnings Week Ahead
After Monday’s reports from AstraZeneca and Nucor, the week continues with results from SK Hynix, Visa, Coca-Cola, Boeing, Ford, ExxonMobil, and Chevron later in the week, Yahoo Finance listed. The main focus shifts to Big Tech on Wednesday and Thursday, when Microsoft and Meta report, followed by Apple and Amazon. This comes after Alphabet and Tesla earnings last week triggered a tech sector sell-off.
Analyst Forecasts
FactSet data shows analysts expect S&P 500 second-quarter earnings to grow 23.2% year-over-year, far exceeding the 10-year average of 10.3%, Yahoo Finance reported. If realized, this would mark the second consecutive quarter of earnings growth above 20% and the seventh straight quarter of double-digit expansion. Current projections remain above late-June estimates of 21.8%.
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Time · lag behind first