Zacks Earnings Trends Highlights: Nvidia, Amazon, Alphabet, Microsoft and Meta, Apple and Tesla

Chicago, IL - November 6, 2025 - Zacks Director of Research Sheraz Mian says, "For the Magnificent 7 group, Q3 earnings are on track to be up +26.7% from the same period last year on +17.6% higher revenues, which would follow the group's +26.4% earnings growth on +15.5% revenue growth in the preceding period." Q3 Earnings Season: Tech Sector Remains Growth Driver Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>> Here are the key points: * For the 389 S&P 500 members that have reported Q3 results, total earnings are up +14.6% from the same period last year on +8.3% higher revenues, with 83.5% beating EPS estimates and 75.6% beating revenue estimates. The proportion of these 389 index members beating both EPS and revenue estimates is 67.1%. * For the Tech sector, we now have Q3 results from 67.4% of the sector's market capitalization in the S&P 500 index. Total earnings for these Tech companies are up +24.8% from the same period last year on +12.6% higher revenues, with 92.5% beating EPS estimates and 84.9% beating revenue estimates. This is notably better performance from these Tech companies relative to other recent periods. * With respect to growth, Q3 earnings are expected to be above the year-earlier level for 11 of the 16 Zacks sectors, with double-digit growth at the Aerospace (up +76.5%), Tech (+24.7%), Finance (+24.4%), and Retail (+15.3%) sectors. * For the Magnificent 7 group, Q3 earnings are on track to be up +26.7% from the same period last year on +17.6% higher revenues, which would follow the group's +26.4% earnings growth on +15.5% revenue growth in the preceding period. The Mag 7 Group's Impressive Earnings Power Nvidia NVDA is the only Mag 7 member yet to report Q3 results, with the company scheduled to report after the market's close on November 19. The expectation is that Nvidia will come out with $1.23 per share in earnings on $54.59 billion in revenues, representing year-over-year growth rates of +51.9% and +55.6%, respectively. Estimates have largely been stable over the last two months, but they are up relative to where they stood three months back. Of the group's results we have seen already, the market loved the numbers from Amazon (AMZN) and Alphabet (GOOGL), didn't like what it saw from Microsoft (MSFT) and Meta (META), Apple (AAPL) and Tesla (TSLA) results fall somewhere in the middle. If we look at the group's Q3 numbers as a whole, combining the actual results from Apple, Tesla, Amazon, Meta, Alphabet, and Microsoft with estimates for Nvidia, total earnings are on track to be up +26.7% from the same period last year on +17.6% higher revenues. This will follow the group's +26.4% earnings growth on +15.5% revenue growth in 2025 Q2, as the chart below shows. For 2025 as a whole, the Mag 7 group is on track to achieve +20.7% earnings growth on +11.5% top-line gains, with double-digit earnings and revenue growth expected in each of the next two years, as we show later in this report. The Earnings Big Picture Positive Q3 results and reassuring management commentary from these banks are helping sustain the favorable revisions trend that has been in place lately. For 2025 Q3, the expectation is for earnings growth of +13.8% on +8.1% revenue gains. We have consistently shown in this space how Q3 estimates have steadily increased since the quarter began. As noted earlier, the revisions trend has turned positive, in line with the trend we had seen at this stage in the preceding period as well. We will be closely watching if this favorable revisions trend gains strength or tapers off as we go through the remainder of the Q3 reporting cycle. Free: Instant Access to Zacks' Market-Crushing Strategies Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can tap into those powerful strategies - and the high-potential stocks they uncover - free. No strings attached. Get all the details here >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zacks Earnings Trends Highlights: Nvidia, Amazon, Alphabet, Microsoft and Meta, Apple and Tesla

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