Third Quarter Earnings: The Rise Continues

Current Earnings Reports from American Companies

The majority of third-quarter earnings results are in the past. As of November 7, S&P 500 companies have reported their results with 91% having disclosed their earnings, and analysts are forecasting a 13.1% increase in earnings per share for the third quarter. If this forecast materializes, it will signify double-digit earnings growth for four consecutive quarters and surpass the 12% earnings growth rate recorded in the second quarter of this year.

Expectations for the third quarter began at quite low levels, with analysts expecting a 7.9% increase in shares as of September 30. Last week, investors received news from technology and artificial intelligence players such as Palantir (PLTR), AMD (AMD), Supermicro (SMCI), and Constellation Energy (CEG). Additionally, companies like Uber (UBER), Spotify (SPOT), Snap (SNAP), and Airbnb (ABNB) also shared their earnings results.

This week, earnings from companies such as The Walt Disney Company, Applied Materials (AMAT), CoreWeave (CRWV), Occidental Petroleum (OXY), Rocket Lab (RKLB), Oklo (OKLO), and Cisco Systems (CSCO) are eagerly anticipated.

American Bitcoin (ABTC) shares fell 13% ahead of Friday's opening. Nevertheless, the company reported that its profits more than doubled in the third quarter. The company is reportedly founded by Eric Trump and is a significant stakeholder of Donald Trump Jr..

Applied Materials (AMAT) shares dropped more than 2% in extended trading on Thursday. Despite reporting a slowdown in revenue, the company stated it expects better results for the first quarter of its fiscal year, forecasting $6.85 billion in revenue for the current quarter.

Disney (DIS) shares fell 3% following the announcement of third-quarter earnings that came in below analyst expectations. This occurred as declines in the linear television segment counterbalanced strengths in the parks and streaming divisions.

Tencent (0700.HK, TCEHY) reported a 15% increase in third-quarter revenue, with strong demand in gaming and expanding AI-driven services.

Cisco Systems (CSCO) shares surged by over 6% in after-hours trading following the San Jose-based technology company raising its annual profit and revenue forecasts.

McGraw Hill (MH) shares experienced an increase of more than 22% on Wednesday. The education company raised its full-year guidance and reported better-than-expected results in the second quarter.

Occidental Petroleum (OXY) reported earnings per share of $0.65 for the third quarter, surpassing forecasts, although it recorded a decline compared to the same period last year.

CoreWeave (CRWV) shares declined following the company's third-quarter results, with investors looking for more information on AI demand trends. The company reported a loss of $0.22 per share in the third quarter.

Venture Global (VG) shares rose more than 6% after the company announced its third-quarter earnings and revenues. The company reported third-quarter revenue of $3.3 billion.

Tyson Foods (TSN) shares increased after the company forecasted better sales for the year. However, the company remains below expected revenues for the fourth quarter.

How this earnings season will shape up is already a point of curiosity for investors.