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Earnings season is in full swing, and it’s been the busiest week for results of the quarter.

Five more “Magnificent Seven” Big Tech companies reported results after Tesla (TSLA) kicked things off for the group last week. Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG, GOOGL), and Meta Platforms (META) reported after the bell on Wednesday, and Apple (AAPL) reported after the closing bell on Thursday.

Beyond tech, investors heard from other companies such as Spotify (SPOT), Coca-Cola (KO), Robinhood (HOOD), Chevron (CVX), and Exxon Mobil (XOM).

Despite ongoing risks from the Iran war, artificial intelligence, and delayed Fed rate cuts, Wall Street analysts have remained optimistic about earnings growth, the stock market’s primary driver over the long term.

In the first quarter, analysts expect the S&P 500 (^GSPC) to report its sixth consecutive quarter of double-digit earnings growth, according to FactSet’s John Butters.

ExxonMobil (XOM) and Chevron (CVX) both saw Q1 earnings per share drop from the same quarter last year, as mistimed oil price hedges, affected by the war in the Middle East, blocked major swaths of global energy flows.

Exxon CEO Darren Woods also said on an earnings call with analysts and investors that the market has “more to come” in negative impacts if the Strait of Hormuz remains closed, and that renormalization of oil flows after the strait is reopened would likely take at least one to two months.

Exxon’s first quarter adjusted earnings per share of $1.16 fell below first quarter 2025 earnings of $1.76. At Chevron, first quarter earnings of $1.41 fell below EPS of $2.18 a year ago.

Both companies are looking at steep paper losses from derivatives positions opened at the beginning of the year, when oil prices were low.

Read more here.

Reddit stock (RDDT) jumped 12% in morning trading on Thursday.

Reddit reported that its advertising revenue surged 74% year over year to $625 million, driving better-than-expected net sales and profits in the first quarter. CEO Steve Huffman said the “deeply engaged communities” on Reddit’s online discussion forums give it a unique advantage in the age of artificial intelligence.

Earnings per share of $1.01 on total revenue of $663 million handily beat estimates, for earnings of $0.56 per share and revenue of $612 million.

Despite Friday’s gains, Reddit’s stock remains down nearly 30% year to date.

Heading into the earnings report, the Street grew concerned that Reddit would not be able to sustain daily active user and advertising revenue growth as the platform matures — and as Alphabet (GOOG, GOOGL) and Meta (META) continue to dominate the ad market.

Read more here.

Sandisk (SNDK) stock fell more than 6% in premarket on Friday. Investors appeared to “sell the news” after the memory chipmaker posted strong beats on the top and bottom lines in its fiscal third quarter.

Revenue of $5.95 billion increased from $4.72 billion, and the company’s adjusted earnings of $23.41 per share sailed past Wall Street expectations of $14.51.

Sandisk sees fourth quarter revenue in the range of $7.75 billion to $8.25 billion, above a consensus estimate of $6.65 billion.

What else you need to know: Sandisk stock has surged this year as memory has become a key bottleneck in computing. Bullish sentiment from Wall Street has driven the stock to new highs: The stock is up almost 300% year to date and hit a record high on Thursday prior to its quarterly results.

Read more here.

Reuters reports:

Moderna surpassed Wall Street estimates for first-quarter revenue on Friday, helped by better-than-expected sales of its COVID-19 vaccine in ‌international markets, sending its shares up nearly 8% in premarket trading.

International revenue came in ‌at $311 million, versus $78 million in U.S. markets, as the vaccine maker leveraged partnerships in the UK, Canada and Australia.

"So ​our story has really become a more balanced international versus U.S. story," Moderna Chief Financial Officer Jamey Mock said in an interview with Reuters.

Sweeping changes to U.S. vaccine policy under Health Secretary Robert F. Kennedy Jr., a longtime anti-vaccine activist, have led to reduced vaccine use and reshaped the regulatory ‌landscape for companies developing new ⁠shots.

Read more here.

Reuters reports:

Roblox cut its annual bookings forecast on Thursday, signaling that new safety initiatives may impact user growth ‌and spending on its popular videogame platform, sending its shares ‌down over 18% in extended trading.

The company expects fiscal 2026 bookings of $7.33 billion to $7.6 billion, lower ​than its earlier forecast of $8.28 billion to $8.55 billion.

Investments in recommendation algorithms and higher developer rewards have helped Roblox draw in millions of users looking to play free games and socialize with friends. But multiple cases of child exploitation and ‌grooming on the platform have ⁠resulted in national bans, lawsuits and investigations into Roblox's safety framework.

To ease concerns, the platform unveiled age-based accounts and age ⁠verification early this year to limit communication and interaction between younger and older users, while also rolling out broader content monitoring.

"What we have observed since we ​started rolling ​out age-gating of communications features in ​January is less communication engagement ‌on the platform," CFO Naveen Chopra told Reuters in an interview.

"That does tend to have some knock-on effects in terms of content virality, which can then impact things like App Store ratings and the like."

Read more here.

Reuters reports:

Roku raised its annual platform revenue forecast on Thursday, signaling confidence that advertisers will ‌continue to spend on its streaming platform, sending ‌its shares up 10% in extended trading.

Roku is benefiting from the rise ​of streaming media, as more households make connected TV (CTV) devices their primary viewing platform …

Earlier in April, Roku announced that it has surpassed 100 million streaming households ⁠worldwide, reflecting the broader shift in viewing habits.

The company's Platform segment, which includes advertising on its free, ad-supported service, The Roku ​Channel, as ​well as revenue-sharing agreements ​with other content services on ‌its platform, has been a growth driver.

Read more here.

Yahoo Finance’s Dan Howley reports:

Apple (AAPL) reported its second quarter earnings on Thursday, topping analysts’ estimates on the top and bottom lines on strong iPhone sales.

Apple stock rose roughly 1% on the news.

For the quarter, Apple saw earnings per share (EPS) of $2.01 on revenue of $111.2 billion. Analysts were anticipating EPS of $1.96 and revenue of $109.66 billion, according to Bloomberg analyst consensus estimates.

That’s up from the EPS of $1.65 and $95.35 billion the company saw in the same quarter last year.

Apple’s iPhone revenue came in at $56.99 billion, just ahead of Wall Street’s projections. This marks the second consecutive quarter of more than 20% revenue growth in the segment.

Read more here.

Reddit (RDDT) topped analysts’ estimates in its Q2 earnings report that showed strong quarterly revenue growth and advertiser demand driven by its AI-powered advertising tools that target users based on their interests within subreddit discussion threads. The social media company also saw strong increases in both its active advertiser count and daily active users.

Reddit stock jumped more than 13% in after-hours trading.

Reuters reports:

"Our active advertiser count grew 75% year-over-year, which I think is the third consecutive quarter that we've had ⁠really strong active advertiser count," Reddit Chief Operating Officer Jen Wong told Reuters.

Reddit's quarterly revenue forecast of $715 million to $725 million exceeded the LSEG-compiled analysts' average estimate of $711.6 million.

It ​expects adjusted ​earnings before interest, taxes, depreciation and amortization ​of $285 million to $295 million, above ‌estimates of $277.1 million.

Reddit ‌said its first quarter revenue rose 69% ​to $663 million, beating estimates of $610.9 million.

Daily active unique ​visitors grew 17% to 126.8 ​million in the quarter, while global average revenue per user ‌increased by 44%.

Read more here.

Yahoo Finance’s Pras Subramanian reports:

Rivian (RIVN) reported first quarter earnings results that largely met expectations on Thursday as the pure-play EV maker navigates the launch of its highly anticipated R2 midsize SUV while managing its cash burn and vehicle production. The company also announced tweaks to its upcoming Georgia facility, with the Department of Energy (DOE) shrinking its loan commitment.

For the quarter, Rivian reported revenue of $1.38 billion versus $1.39 billion, per Bloomberg consensus estimates, up 11% compared to a year ago. Rivian posted a loss per share of $0.33 versus the $0.72 expected. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) came in at a loss of $472 million, wider than last year, but Rivian reported a gross profit of $119 million, its third quarter in a row.

The company said its automotive segment posted a gross profit loss, but its software and services segment posted a $180 million gross profit, with a nearly 60% gain from a year ago.

Rivian maintained its full-year projections, seeing an adjusted EBITDA loss for 2026 in a range of $1.80 billion to $2.10 billion, with capital expenditures of $1.95 billion to $2.05 billion.

Last week, the company announced the start of production for the R2 at its plant in Normal, Ill., with customer deliveries starting “later this spring.”

Read more here.

Rivian stock dropped 2% in after-hours trading.

Eli Lilly (LLY) stock soared 6% in early trading on Thursday after the pharmaceutical company reported strong sales for its GLP-1 drugs Zepbound and Mounjaro.

Zepbound revenue increased 80% year over year to $4.16 billion and Mounjaro revenue soared 125% to $8.66 billion. Despite lower prices for those drugs, strong demand helped lift overall revenue for the company 56% year over year to $19.7 billion, meaning GLP-1s accounted for roughly two-thirds of Eli Lilly’s total sales.

Eli Lilly’s GLP-1 business got another tailwind during the quarter with the FDA’s approval of Foundayo, its pill version of its weight-loss drug.

“A key milestone was the U.S. FDA approval of Foundayo — the only approved GLP-1 pill that can be taken any time of day, without food and water restrictions,” Lilly CEO David Ricks said. “Foundayo will meaningfully expand the number of people who can benefit from GLP-1s. We also delivered pipeline progress across all four therapeutic areas and continued investing in Lilly's future growth through four acquisitions.”

Lilly raised its full-year guidance for revenue to $82 billion to $85 billion and adjusted earnings per share to $35.50 to $37.00.

Yahoo Finance’s Ines Ferre reports:

Caterpillar (CAT) stock jumped 5% in premarket on Thursday. The heavy equipment maker noted “robust order activity” and a record backlog in the first quarter, in part fueled by the artificial intelligence infrastructure build-out.

Caterpillar noted that its Power & Energy segment’s total sales jumped an annualized 22% in the first three months of the year. The growth was driven by electricity generation equipment for data centers, including engines, turbines, and turbine-related services.

The company now estimates full-year revenue growth will be in the low double digits, significantly higher than the 7% growth rate it had previously projected.

Read more here.

Yahoo Finance’s Pras Subramanian reports:

Stellantis (STLA), the parent company of Jeep, Dodge, Fiat, and Chrysler, released first quarter earnings that topped analyst expectations, but investors were left wanting more, especially without updated guidance.

For the quarter, Stellantis reported revenue of 38.13 billion euros ($44.59 billion) vs 38.49 billion euros ($45.06 billion) per Bloomberg consensus, up 6% compared to last year. Stellantis posted adjusted EPS of 0.21 euros ($0.25) vs. 0.12 euros ($0.14) and adjusted operating income of 960 million euros ($1.12 billion) vs 568 million euros ($664.2 million) expected, up nearly 200% from a year ago.

Shares dropped over 5% in pre-market trade.

Read more here.

Yahoo Finance’s Brooke DiPalma reports:

Chipotle (CMG) reported that sales improved in the first quarter on Wednesday as the burrito chain aimed to regain momentum amid a tricky consumer backdrop.

Same-store sales rose 0.5% in Q1, beating expectations for a 0.9% decline, according to Bloomberg consensus data. Revenue grew to $3.09 billion, more than the $3.07 billion expected, while adjusted earnings per share came in line with expectations at $0.24, though profits declined from $0.29 per share in the same quarter last year.

Chipotle reiterated its forecast for no sales growth in 2026 as its core customer continues to face economic pressure, leading to a decline in traffic.

Read more here.

Chipotle stock popped more than 3% in after-hours trade.

Yahoo Finance’s Dan Howley reports:

Google parent Alphabet (GOOG, GOOGL) reported its first quarter results on Wednesday, beating on the top and bottom line, on strong cloud growth.

Alphabet stock has climbed roughly 30% over the past six months, beating out Amazon (AMZN), up 15%, and Microsoft (MSFT), which is off about 20%.

Much of that is thanks to the success of Google’s cloud platform and Gemini artificial intelligence models.

Read more here.

Yahoo Finance’s Dan Howley reports:

Qualcomm (QCOM) announced its second quarter earnings on Wednesday, topping Wall Street estimates on top and bottom lines, but falling short on Q3 guidance.

The company said it anticipates third quarter revenue of between $9.2 billion and $10 billion. Analysts were looking for $10.23 billion.

But Qualcomm also said it sees the market for Chinese smartphones bottoming in the current quarter, a potentially positive sign for the company.

Qualcomm stock rose more than 13%.

Read more here.

Yahoo Finance’s Pras Subramanian reports:

Ford (F) reported solid first quarter results on Wednesday after the bell as a one-time benefit from the rollback of President Trump’s “Liberation Day” tariffs boosted Q1 profit and full-year outlook. A recovery in F-150 truck sales will also aid results in the back half of the year, but rising materials costs are a headwind.

For the quarter, Ford reported automotive revenue of $39.82 billion versus $38.48 billion, per Bloomberg consensus, with adjusted earnings per share (EPS) of $0.66 versus $0.19 expected and adjusted EBIT of $3.5 billion versus $1.26 billion.

Ford said Q1 adjusted EBIT of $3.5 billion reflected a “$1.3 billion one-time International [Emergency Economic Powers Act/”Liberation Day”] tariff benefit, with strong product mix and net pricing,” and growth in services boosting results.

Ford shares were up 6% in after-hours trading.

Read more here.

Yahoo Finance’s Myles Udland reports:

Meta Platforms (META) reported first quarter earnings on Wednesday that showed profits beat forecasts but indicated the company plans to continue ramping its spending on AI as its profits again blew away Wall Street forecasts.

The company reported earnings per share (EPS) of $10.44 on revenue of $56.3 billion. Wall Street analysts expected adjusted earnings of $8.15 per share on revenue of $55.5 billion, according to Bloomberg estimates.

Read more here.

Yahoo Finance’s Dan Howley reports:

Microsoft (MSFT) reported its third quarter results after the bell on Wednesday, beating analysts’ expectations on the top and bottom lines and said its AI business now has a $37 billion annual revenue run rate, up 123% year over year.

Microsoft stock fell more than 1% on the news after initially climbing higher.

For the quarter, Microsoft saw earnings per share (EPS) of $4.27 on revenue of $82.89 billion. Wall Street was anticipating EPS of $4.04 on revenue of $81.46 billion, based on Bloomberg analyst consensus estimates.

Microsoft says its Copilot service now exceeds 20 million paid seats, up from the 15 million the company reported in Q2.

It also said it has remaining performance obligations of $627 billion, up 99% year-over-year, with a weighted-average duration of 2.5 years. Excluding OpenAI, RPO was up about 26%, which is more in line with season averages.

On capital expenditures, Microsoft said it spent $31.9 billion, with two-thirds of that going to assets, including GPUs and CPUs.

Microsoft saw EPS of $3.46 and revenue of $70.06 billion in the same period last year.

Read more here.

Amazon (AMZN) beat the Street’s estimates on first quarter earnings per share and revenue, citing strong performance in its AWS cloud division and positive results from ongoing investment in artificial intelligence.

Amazon stock slipped 1% in after-hours trading.

Yahoo Finance’s Jared Blikre and Daniel Howley report:

The company’s earnings per share for the first quarter was $2.78, up from $1.59 a year ago. Revenue was $181.5 billion, up from $155.7 billion.

Analysts had expected earnings per share of $1.62 on revenue of $177.2 billion, according to Bloomberg analyst consensus estimates.

Amazon’s quarterly earnings report comes as investors look for signs that massive spending on artificial intelligence by Big Tech hyperscalers is paying off. All totaled, the AI hyperscalers are expected to spend a whopping $650 billion in capital expenditures in 2026.

Read more here.

General Dynamics (GD) surged by more than 5% in premarket trading after the company posted strong beats on both the top and bottom lines in its first quarter report.

First quarter adjusted earnings were $4.10 per share, above analyst estimates of $3.69 per share. Revenue for the quarter was $13.5 billion, against estimates of $12.7 billion.

The aerospace and defense manufacturer saw its order backlog grow to $130.8 billion, up from roughly $88.7 billion one year ago. General Dynamics’ aerospace and marine segments led revenue growth.

“This was a very powerful quarter in all respects,” president Danny Deep said on a call with analysts shortly after the earnings report was published. “Each of the segments demonstrated better performance … [that] exceeded our own expectations.”