The latest earnings season kicked into gear this week, with a little something for everyone as the likes of IBM ( NYSE: IBM ), Netflix ( NASDAQ: NFLX ) and even Twitter ( NYSE: TWTR ) gave a look at how the various areas of the tech sector have been performing of late.
IBM ( IBM ) got things going with its second-quarter report on Monday. And while Big Blue delivered better-than-expected earnings and revenue, it was the company's cash-flow outlook that raised investors' concerns . By the time U.S. markets closed on Friday, IBM ( IBM ) shares had fallen almost 9% during the week.
After IBM ( IBM ), it was Netflix's ( NFLX ) turn to try to get into the good graces of Wall Street following months of speculation about the streaming TV leader's subscriber numbers. And, Netflix ( NFLX ) did say it lost 970,000 subscribers during the second quarter of the year, but...Compared to what had been expectations for a loss of 2M subscribers, Netflix ( NFLX ) was able to call its latest quarterly results a success.
And for his part, Netflix's ( NFLX ) Co-Chief Executive, Reed Hastings said there was "one single thing" that could be pointed to that helped with the company's better-than-expected subscriber numbers .
Meanwhile, prior to Netflix's ( NFLX ) results, the company outlined details about methods to monetize passwords that its members share with friends and family outside their homes. Netflix ( NFLX ) said the new fees will be rolled out in five Latin and South American countries , but didn't give any details about if of when the program will be expanded to other areas.
Netflix's ( NFLX ) results also gave a boost to other companies in the streaming TV industry such as Roku ( ROKU ), Paramount Global ( PARA ) and the Walt Disney Co. ( DIS ).
AT&T ( T ) had a rough go of it, as, like IBM ( IBM ), positive sentiment about the telecom giant's quarterly results was tempered by the company cutting its cash-flow forecast .
Twitter ( TWTR ) had another busy week, as a judge in Delaware ruled in favor of the company by setting an October trial date for its suit against presumptive buyer Elon Musk. Twitter ( TWTR ) is seeking to force Musk to go through with his $44B acquisition of the social-media giant.
And at the end of the week, Twitter ( TWTR ) said it was issues related to Musk, and the online advertising industry, that caused its second-quarter results to fall shy of expectations .
Verizon ( VZ ) shares fell to a five-year-low on Friday after it reported disappointing mobile-phone subscriber numbers and gave an outlook that effectively foresees no noticeable growth ahead .
And Snap ( SNAP )...Oh, Snap ( SNAP ), what went wrong?
The company's shares fell more than 39% on Friday after its quarterly results and forecast suggested more weakness ahead in the market for online advertising, which accounts for nearly all of Snap's ( SNAP ) revenue.
But, all that dust will barely have settled by the time Monday rolls around and even more big-name tech leaders get into the earnings reporting game.
Intel ( INTC ), Microsoft ( MSFT ), Apple ( NASDAQ: AAPL ), Facebook's Meta ( META ) and Google parent Alphabet ( GOOG ) ( GOOGL ) are all on the dock and will get investors' attention with their quarterly reports next week.
Intel ( INTC ) may find the going rough, as Deutsche Bank cut its estimates on the chip giant due to expected weakness in the PC market . Wall Street will look at signs that Apple ( AAPL ) is seeing growth in areas such as services and its biggest sales source, the iPhone . Meanwhile, Microsoft ( MSFT ) trimmed its estimates earlier in the quarter, and some analysts have said the software giant may seen some impact on its results from the growing strength in the U.S. dollar .
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Tech Roundup: Earnings results show mixed messages across the industry