As the global economy confronted pervasive turmoil this year, the stock market remained remarkably resilient. Despite rife tariffs, insidious uncertainty, and myriad geopolitical conflicts, the S&P 500 rose approximately 6.73% YTD. This stock index reflects the performance of immense American corporations that drive economic progress worldwide. The outsized impact of these companies garners them increased attention from global investors. As many of the largest companies released their earnings last week and will continue to report over the next two weeks, tracking financial results and forecasts remains vital for the adept investor.

This past  week, TSMC and ASML, two leaders in the semiconductor supply chain that supports nearly all modern technology, reported their second quarter results. TSMC generated USD 30.07bn in revenue with EPS of USD 2.47 as it continues to ride the AI wave. Its stock price soared 10% immediately following the news of a 54% net profit increase. ASML generated €7.7bn in net sales with EPS of €5.90. ASML was unable to accurately forecast future earnings because of EU tariff uncertainty, contributing to an 11% fall in stock price despite positive earnings. Netflix (NFLX) released their earnings on Thursday this past week, with revenue increasing 16% to USD 11.08bn and EPS of USD 7.19. Although Netflix continues to make strides in the streaming market and outperform its key competitor, Disney, its share price slipped about 5.1% following the earnings report as investors believe the current stock price should predicate explosive growth, unlikely given slowing new-subscriber rates and the continued rise of YouTube. Finally, two financial heavyweights, BlackRock (BLK) and Goldman Sachs (GS), reported last Wednesday and Thursday, respectively. BlackRock announced USD 5.42bn in revenue, up 13% YoY, largely driven by fees on its record USD 12.5tn AUM. Its EPS rose 2% YoY to USD 10.19, acknowledged by investors in its 1.97% stock rise in the following days. Goldman Sachs reported USD 14.58bn in net revenue, up 15% YoY, driven by significantly more business in its global banking and markets division. The bank’s EPS was USD 10.91, and given its healthy profitability, announced an increased quarterly dividend from USD 3.00 to USD 4.00 per common share to be paid on September 29^th, 2025. This past week’s growth in major corporations across the board reflects general market optimism.

As earnings season progresses, several notable corporations release their calendar Q2 reports this week. Coca-Cola (KO) reports tomorrow, 22/7, with analysts anticipating relatively flat YoY revenue of USD 12.5bn and approximately USD 0.83 EPS, as the company battles cautious consumer spending and increasing inflation in America. Lockheed Martin (LMT) also posts then, with forecasts predicting USD 18.57bn in revenue, up 2.5% from Q2 last year, and USD 6.52 EPS, down 8.3% YoY. Boston Scientific (BSX), Tesla (TSLA), and Alphabet (GOOGL) report on Wednesday, 23/7. Expectations of USD 4.89bn in revenue and USD 0.72 EPS indicate double-digit growth for Boston Scientific YoY. Analysts expect Tesla to report USD 22.6bn in revenue, down 11.3% YoY, and USD 0.40 EPS, as the company’s bottom line continues to contract due to flagging demand. Finally, Alphabet is forecasted to increase revenues by 11% YoY to USD 89.2bn, with EPS approximately USD 2.02, despite a nearly 20% stock decline YTD.

Next week, L’Oréal (OR.PA) reports on Tuesday, 29/7, with predictions of €10.88bn in revenue, holding steady with previous quarters. Microsoft (MSFT) posts earnings on Wednesday, 30/7, forecasted to announce USD 73.79bn revenue and USD 3.38 EPS. The same day, analysts expect Meta (META) to announce USD 45.55bn in revenue, a nearly 16% increase YoY, and USD 5.84 EPS. On Thursday, 31/7, Apple (AAPL) reports revenue forecasted to reach USD 88.64bn, a sales increase of 3.34%, with USD 1.42 EPS. Rounding out the week, analysts anticipate Exxon Mobil (XOM) to report USD 79.23bn and USD 1.50 EPS on Friday, 8/1. Exxon Mobil recently lost a high profile lawsuit with Chevron in its pursuit of acquisition target Hess, but this defeat will not affect this quarter’s earnings.

These major blue-chip firms from American to European to Taiwanese are generating massive revenues despite tariff uncertainty, reflecting market resilience and a strong global economy this past quarter.

Notable Q2 Earnings Season Calendar

Source: Companies’ data, InterCapital Research