We’re now at the halfway point of earnings season, and this week is one of the busiest yet. More than 100 S&P 500 companies are set to report, including some of the biggest names in tech, healthcare, and consumer goods. So far, the results have been solid—77% of the 180 S&P 500 companies that have already reported have beaten analyst forecasts, slightly above the 10-year average of 75%, according to FactSet.
That said, the market’s reaction has been mixed, with investors focusing more on future guidance than past performance. Here’s a breakdown of the most important earnings reports coming up this week and what to watch for.
Tuesday:
Pfizer (PFE) – Pre-Market Report
- Last quarter: Beat earnings expectations and raised full-year guidance.
- This quarter: Analysts expect revenue growth of more than 20% year over year.
- What to watch: Investors will be focused on Pfizer’s drug pipeline, particularly updates on its weight-loss drug and new oncology treatments. CEO Albert Bourla has emphasized pipeline development as the company pivots away from its reliance on COVID-19-related revenue.
- History: Pfizer has a strong track record, beating earnings estimates 87% of the time, according to Bespoke.
Alphabet (GOOGL) – After the Bell
- Last quarter: Beat expectations, driven by strong cloud revenue.
- This quarter: Expected earnings growth of nearly 30% year over year.
- What to watch: Alphabet’s ad business should benefit from the same AI-driven pricing power that helped Meta in its latest report. Oppenheimer’s Jason Helfstein sees Alphabet as a clear AI winner.
- History: Alphabet has beaten analyst estimates for seven straight quarters.
Advanced Micro Devices (AMD) – After the Bell
- Last quarter: Stock fell after weak guidance disappointed investors.
- This quarter: Analysts expect a 40% earnings increase year over year.
- What to watch: AMD shares fell 5% last week after the DeepSeek news sparked a sell-off in AI stocks. With growing competition, investors will be looking for a strong report to regain confidence.
- History: AMD has fallen in three of its last four earnings reports, including a 10.6% drop last October.
Wednesday:
Disney (DIS) – Pre-Market Report
- Last quarter: Shares surged on strong streaming growth and solid guidance.
- This quarter: Revenue is expected to grow by just 4%, but earnings should remain strong.
- What to watch: JPMorgan’s David Karnovsky sees Disney as the best-positioned media company due to its unique content, improving streaming profitability, and strong theme park operations.
- History: Disney has beaten earnings expectations for six straight quarters.
Ford (F) – After the Bell
- Last quarter: Beat earnings expectations but issued weak 2024 guidance.
- This quarter: Expected 20% year-over-year earnings growth.
- What to watch: Barclays recently downgraded Ford to “equal weight” from “overweight,” citing volume and pricing headwinds in 2025. Analysts will be paying close attention to inventory levels and management’s outlook for the auto market.
- History: Ford beats expectations 70% of the time but tends to see its stock decline on earnings day.
Thursday: Amazon Closes Out the Week
Amazon (AMZN) – After the Bell
- Last quarter: Strong earnings beat, fueled by cloud growth.
- This quarter: Analysts expect nearly 50% earnings growth year over year.
- What to watch: Bank of America’s Justin Post remains bullish, highlighting AI-driven cloud expansion and retail margin improvement as key drivers of outperformance.
- History: Amazon has beaten earnings expectations for seven straight quarters.
Key Takeaways for Investors
Earnings season is strong but mixed – While most companies are beating expectations, stock reactions have varied, as investors focus more on forward guidance.
Tech earnings will set the tone – Alphabet and Amazon’s reports will be closely watched for insights into AI, digital advertising, and cloud growth.
Cyclical sectors face headwinds – Ford and Disney are up against industry-specific challenges, and investors will be looking for signs of resilience.
Volatility remains a risk – With major stocks reporting this week, expect market swings, particularly in tech and consumer discretionary sectors.
As earnings season continues, the focus is shifting from past performance to future outlooks. Strong reports could fuel further gains, but any signs of weakness could trigger pullbacks. Keep an eye on the key names reporting this week, as their results will help shape market sentiment heading into February.