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HomeBusinessFAANG Stocks Report Earnings Next Week. See What’s Ahead

FAANG Stocks Report Earnings Next Week. See What’s Ahead

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The FAANG stocks that represent 16% of the S&P are set to report earnings next week as we close out the month of October. Facebook FB, Apple AAPL, Amazon AMZN,  Google parent Alphabet Inc. GOOGL, report  earnings on Thursday, October 29th.

Google is under pressure from critics about dominance in internet gatekeeping and the Justice Department’s antitrust lawsuit against Alphabet’s Google. The antitrust suit filed against Google by the US Department of Justice this week accusing Google of unfair competition on the search and advertising market, alleging that Google has engaged in anticompetitive practices.

Analysts expect Alphabet to report sales of $42.77 billion with adjusted earnings of $11.18 in Q3. Revenue growth is forecast at 5.6% while earnings are expected to grow by 10.5% in Q3.

Facebook is under pressure  as the Federal Trade Commission is getting closer to a decision about filing an antitrust lawsuit against Facebook. Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey will testify before the Senate on Nov. 17, 2020.

Facebook analysts expect sales to rise 11.7% year-over-year to $19.73 billion while earnings are forecast to decline by 11% to $1.89.

Amazon is in the hot seat about policies that penalize workers for taking too many breaks ahead of Prime Day. Employees sued Amazon over this policy as    greater risk of being exposed to the coronavirus. Amazon employees have petitioned for paid time off to vote as other tech giants such as Facebook, Apple, Twitter, and Uber already will not deduct pay for the time it takes to head to the polls and vote. Quarterly earnings of $7.27 per share in its upcoming report.  With a year-over-year change of +71.9%.

The Justice Department as alleged that Google uses its massive spending power to pay Apple (AAPL) from  $8 billion and $12 billion per year in a revenue sharing agreement, requiring Apple to use Google’s search services on Safari, Spotlight search app, and Safari.

Apple is set to report  an expected to post quarterly earnings of $0.69 per share with a  year-over-year change of -9.2%.

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