Microsoft and Alphabet will announce corporate results on Tuesday. Their quarterly performance and, more importantly, earnings guidance may set the tone for the broader market in the near term.
Analysts expect EPS of $25.63 on revenue of $68.13 billion. For reference, the company has a track record of stellar execution, in fact, it has handily beat both top- and bottom-line consensus forecasts over the past six quarters, with its share price higher the day after the earnings announcement on every occasion during these observations. Obviously, past performance is not indicative of future results, but it underscores that management has done a good job in growing the business and profits.
In terms of financial results, traders should focus on search engine and YouTube advertising revenue amid headwinds from the Russia-Ukraine conflict and strong competition from TikTok. It is also necessary to keep an eye on Alphabet's cloud services segment to glean insight into the unit’s momentum in this increasingly crowded and competitive market.
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