After U.S. markets closed on Tuesday, Alphabet beat estimates on both the top and bottom lines. Shares traded up 6.6% shortly after the market opened on Wednesday.
Microsoft also beat both earnings per share (EPS) and revenue estimates. The company noted that the promise of AI will take time to become a reality. That was enough to slice 3% from the share price Wednesday morning.
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Visa made it a clean sweep, also beating EPS and revenue estimates. The stock traded down about 0.5%.
Before markets opened 0n Wednesday, AT&T beat the consensus EPS estimate but fell short on revenue. Even a forecast for $1 billion less in capital spending during the second half of the year was not enough to boost investors’ spirits. Shares traded down about 1.4%.
Boeing posted better than expected earnings and revenue. Revenue was up 18% year over year, and the loss per share was smaller than forecast. The company also said that the economic recovery is here to stay. Shares traded up 6.6%.
Coca-Cola also beat on both the top and bottom lines. Warren Buffett’s favorite soft drink company also issued inline guidance. Shares traded about flat.
Mattel, Meta Platforms and ServiceNow are scheduled to report quarterly earnings after U.S. markets close on Wednesday, while AbbVie, Comcast and Valero Energy are on deck to report results the following morning.
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