The Q1 earnings season is nearing its end with 412 S&P 500 members or 82.4% of the index’s total membership having already reported their quarterly results, as of May 5, according to the latest Earnings Preview report.
Per the report, earnings of these companies are up 14.2% from the same period last year, while revenues increased 7.3%. The trend this earnings season indicates that we will finally see back-to-back quarters of earnings growth after five straight quarters of decline. The report projects earnings for the S&P 500 index to improve 12.7% from the year-ago period, while total revenue is expected to be up 6.2%.
Moving to Technology sector, we have Q1 results from 44 of the sector’s 62 operators in the S&P 500 index. Earnings of these companies are up 16.5% year over year, while revenues grew 6.4%.
Further, according to the Earnings Preview report, total earnings of the overall sector are expected to be up 16% on 6.1% higher revenues for the first quarter.
Let’s see what’s in store for four tech stocks, all of which are expected to release quarterly numbers on May 10.
Snap Inc (NYSE:SNAP) provides technology and social media services. The company will report first-quarter fiscal 2017 results. The stock has an Earnings ESP of +42.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Snap currently carries a Zacks Rank #3 (Hold). The company is likely to beat in earnings as it has the two key ingredients, namely, a positive ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the quarter is pegged at loss of $2.33. The company filed for its IPO and this is the quarterly report after the company went public. (Read more: Snap Inc to Report Q1 Earnings: What's in the Cards?).
NetEase Inc. (NASDAQ:NTES) , an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China, is slated to report first-quarter 2017 results. The stock carries a Zacks Rank #3. However, the company’s Earnings ESP of 0.00% makes a surprise prediction difficult.
The Zacks Consensus Estimate for the quarter is pegged at $4.24. Last quarter, the company posted a positive earnings surprise of 10.47%. Notably, NetEase outperformed the Zacks Consensus Estimate over the trailing four quarters, with an average positive surprise of 17.15%.
Symantec Corporation (NASDAQ:SYMC) , a leading name in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is slated to report fourth-quarter 2017 results. The stock carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
The Zacks Consensus Estimate for the quarter is pegged at 20 cents. Last quarter, the company posted a positive earnings surprise of 4.76%. Notably, the company has outperformed the Zacks Consensus Estimate in three out of trailing four quarters, with an average positive surprise of 0.99%. (Read more: Symantec to Post Q4 Earnings: Will it Miss Estimates?)
Symantec Corporation Price and EPS Surprise
Symantec Corporation Price and EPS Surprise | Symantec Corporation Quote
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NetEase, Inc. (NTES): Free Stock Analysis Report
Snap Inc. (SNAP): Free Stock Analysis Report
Symantec Corporation (SYMC): Free Stock Analysis Report
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