Next Week in Earnings: January 9th — 13th, 2023
UNH, WFC, JPM, BK, BLK, C, BAC, INFY, TSM, and WIT are among the largest publicly traded companies to report earnings next week.
This summary looks back at their revenue growth from last quarter and reviews the latest performance of their stocks to put their earnings reports into perspective.
This article was originally published on www.databytefinancial.com . Check it out here and use the interactive charts!
UnitedHealth Group Inc [UNH]
In December, UnitedHealth announced that they would be releasing their fourth quarter (and FY 2022) financial results on Friday January 13th before the market opens. Last quarter, the company announced revenue growth of 12% on a year-over-year basis:
Last year, UNH stock grew 6%. Lately, the stock has seen support and resistance levels around $503 and $548 per share. As of January 5th the stock appears to be oversold with respect to this trading range, so if you think the stock still has good support around $503 now might be a good time to pick up additional shares. If the stock continues to fall in price, however, that could indicate future losses to come.
JPMorgan Chase & Co [JPM]
In December, JPMorgan Chase announced that they would be releasing their fourth quarter (and FY 2022) financial results on Friday, January 13th before the market opens. Last quarter, the company announced reported net revenue growth of 10% on a year-over-year basis:
Last year, JPM stock declined by 15%. Lately, the stock has traded in a range between $136.75 and $129.30 per share. As of January 5th, the stock has traded on the high side of this range — if it’s able to break out of this range and hold on to the gains, that likely will put the stock in a good position for future gains, but there’s still a chance the stock will correct back to its previous support level around $136.75.
Taiwan Semiconductor Manufacturing Co Ltd [TSM]
Taiwan Semiconductor is scheduled to report monthly sales on Tuesday January 10th and fourth quarter 2022 financial results on Thursday January 12th according to their calendar. Last quarter, the company reported net revenue growth of 48% on a year-over-year basis:
Last year, TSM stock declined by 38%. Lately, the stock has traded in a range between $73 and $83 per share. As of January 5th, the stock has bounced off the bottom of this range by almost 4%.
Bank of America Corp [BAC]
According to their website Bank of America is scheduled to report fourth quarter and full year financial results on Friday January 13th before the market opens. Last quarter, the company announced total revenue growth of 8% on a year-over-year basis, which they break down into net interest income (which increased 24% YOY) and noninterest income (which decreased 8% YOY):
Last year, BAC stock declined by 26%. Lately the stock has been trading in a range between $32 and $38 per share, and as of January 5th has risen more than 6% off support it saw at the $32 level.
Wells Fargo & Co [WFC]
In November, Wells Fargo announced that they will be reporting fourth quarter and full year financial results on Friday January 13th before the market opens. Last quarter, the company announced total revenue growth of 4% on a year-over-year basis, which is broken down into net interest income (which increased by 71% YOY) and noninterest income (which decreased by 14% YOY).
Last year, WFC stock declined 14%. Lately the stock has seen support and resistance around $41 and $48 per share, respectively, and as of January 5th has risen more than 3% off support at $41 per share.
BlackRock Inc [BLK]
In December, BlackRock announced that they will be reporting fourth quarter and full year financial results on Friday January 13th before the market opens. Last quarter, the company reported total revenue down 15% on a year-over-year basis; 82% of the company’s total revenue last quarter came from investment advisory, administration fees and securities lending revenue, which decreased 10% on a year-over-year basis:
Last year, BLK stock declined 23%. Since November the stock has been in a descending channel, and as of January 5th has been hovering around the top of the channel. From the last few trading sessions, new support around $700 per share appears to be in play so there could be a chance that the stock continues gaining and is able to break out of the channel.
Citigroup Inc [C]
In December, Citigroup announced that they will be reporting fourth quarter and full year financial results on Friday January 13th before the market opens. Last quarter, the company announced total revenue growth of 6% on a year-over-year basis. The majority of their total revenue (51%) came from their institutional clients group, which decreased by 5% YOY.
C stock decreased 25% last year. The stock has been trading in a descending channel since November, but lately has broken through the high side of the channel after a string of bullish price action since December 23rd.
Infosys Limited [INFY]
According to the investor calendar available on Infosys’ website, the company is due to report Q4 earnings on January 12th. Last quarter, the company announced revenue growth of 14% (19% in constant currency).
Last year, INFY stock declined by 29%. The stock has been trading in a tight range between $18.25 and $17.75 per share since December 16th, and as of January 5th closed slightly below this range. Key to watch next week will be if the stock bounces back into this range or continues to have additional losses.
The Bank of New York Mellon Corp [BK]
In November, the Bank of New York Mellon announced that they will be announcing Q4 results on Friday, January 13th. Last quarter, the company reported total revenue up 6% on a year-over-year basis. 76% of the company’s total revenue last quarter was comprised of total fee revenue, which decreased by 1% YOY.
BK stock decreased 22% last year. Lately the stock has seen support and resistance around $44 and $46 per share. As of January 5th, the stock has been trading more than 2% above the previous resistance it had seen at $46 per share, so looking to next week it will be important to see if the stock continues to make further gains or corrects back to the trading range it had seen before.
Wipro Limited [WIT]
On January 6th Wipro announced that they would be reporting their third quarter financial results on Friday, January 13th. Last quarter, the company announced revenue growth of 15% on a year-over-year basis:
Last year, Wipro stock decreased 52%. Lately the stock has been in a trading range between $4.50 and $4.70 per share, and as of January 5th has been trading around the midpoint of this range.
