Ten major U.S. earnings to watch this week: From AI giants to industrial bellwethers

With the S&P 500 hovering near all-time highs and the Federal Reserve meeting just a week away, this week’s earnings reports from major U.S. companies are set to provide critical insight into the health of corporate America. From Alphabet to Tesla, Intel to Blackstone, some of the biggest names in technology, telecom, industrials, and finance are reporting. And while the market has largely ridden a wave of optimism this year, the coming days could serve as a reality check—or a confirmation of strength.

For long-term investors, the week offers a chance to assess the durability of key business models amid higher-for-longer interest rates. For active traders, the week ahead will be a whirlwind of price reactions and recalibrated expectations. Below, we highlight ten companies worth watching, chosen not just for their size, but for the broader stories they represent.

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Monday, 21 July

Verizon

All eyes will be on Verizon as it kicks off the week. While the telecom sector hasn’t been a market leader lately, Verizon’s results will offer a useful read on consumer spending and competitive dynamics in the 5G rollout. Analysts expect EPS of $1.19 on revenue of $33.7 billion. The options market is implying a move of around 3.6%, suggesting investors are watching closely for signs of margin pressure or positive surprises in subscriber growth. Its last quarter showed resilience in broadband adds, but any signs of subscriber churn or pressure from T-Mobile could weigh on sentiment.

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Tuesday, 22 July

Coca-Cola

Often viewed as a defensive play, Coca-Cola faces questions about volume trends in emerging markets and the impact of FX headwinds. With an estimated EPS of $0.83 and revenue of $12.5 billion, the company’s pricing power and brand strength will be under the microscope. While not typically a big mover, implied volatility points to a modest 2.5% swing—enough to matter for a stock that forms the backbone of many long-term portfolios. Investors will also be tuned in to commentary on evolving consumer habits, particularly in North America and LATAM.

RTX Corp

The aerospace and defense conglomerate is in the midst of a multi-year transition. Investors will be focused on aerospace demand, progress on resolving its Pratt & Whitney engine issues, and updates on defense backlogs. With EPS forecast at $1.44 and sales just above $20 billion, the 3.8% expected move suggests a moderate degree of uncertainty heading into results. Any signs that commercial jet orders are accelerating—or that defense margins are being pressured—will likely shift investor sentiment quickly.

Texas Instruments

As one of the first major chipmakers to report, Texas Instruments will set the tone for the semiconductor space. Inventory corrections and weaker industrial demand have weighed on recent results, but any signs of stabilization could boost sentiment. Analysts expect EPS of $1.35 on $4.35 billion in revenue, with an expected move of around 5%. As TXN serves diverse end markets including automotive, industrial, and communications, its results are often seen as a leading indicator for the broader chip sector.

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Wednesday, 23 July

Alphabet

Arguably the most anticipated report of the week, Alphabet’s earnings will be scrutinized for AI monetization, ad growth, and cloud profitability. The company is forecast to earn $2.42 per share on revenue approaching $79.70 billion. A 5.7% implied move shows the market is bracing for meaningful surprises—up or down. With the stock near record highs, any disappointment could trigger a sharp reassessment. AI-related capex is also under the spotlight, particularly how management positions the Gemini model suite in competition with peers.

Tesla

After a volatile first half of the year, Tesla’s upcoming report could be pivotal. With deliveries down and margins under pressure, investor patience may be wearing thin. Analysts expect just $0.42 per share in earnings, down sharply from a year ago, on $22.7 billion in sales. The market is pricing in a sizable 7.5% move. Whether CEO Elon Musk can reignite excitement with updates on Full Self-Driving or the long-promised Model 2 will be key. Watch also for commentary on China demand and U.S. EV tax credit dynamics.

IBM

In a market obsessed with growth and innovation, IBM has tried to redefine itself as a leader in hybrid cloud and AI infrastructure. Investors will be looking for signs that its turnaround is gaining traction, with EPS expected at $2.64 and revenue near $16.6 billion. The implied move of 6.5% signals the potential for an outsized reaction to even a modest surprise. Free cash flow guidance, AI-services bookings, and Red Hat performance will be top of mind for analysts.

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Thursday, 24 July

Blackstone

The world’s largest alternative asset manager will offer a window into institutional demand, private credit momentum, and real estate performance. Investors are eager to see how fundraising and exits have trended amid a more favorable capital markets backdrop. With earnings of $1.09 per share expected and a 4.7% move implied, Blackstone’s results could have broader implications for financials. Also relevant: updates on retail flows into BREIT and performance of recent private-equity exits.

Honeywell

Often seen as a proxy for the broader industrial economy, Honeywell’s report will speak volumes about supply chains, automation demand, and aerospace aftermarkets. EPS is forecast at $2.66 on $10 billion in revenue, with a 3.6% expected move. Any revision to full-year guidance will be closely watched. Look for signals on warehouse automation, building technologies, and whether aerospace continues to offset softness in other segments.

Intel

Closing out our top ten is Intel, a company still fighting to regain relevance in a rapidly evolving chip landscape. Investors will want updates on its foundry ambitions, government subsidies, and competitive positioning. The bar is low—just $0.02 in expected EPS on $12 billion in revenue—but the stakes are high. The options market is bracing for an 8.1% move, the largest on this list. Commentary on Arrow Lake timing, gross margin trajectory, and traction with AI workloads will be critical.

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Final thoughts

This week’s earnings won’t just be about beats or misses. They’ll be about guidance, tone, and momentum. In a market where sentiment is running high, any cracks in the narrative could trigger sharp reversals. At the same time, strong execution could add fuel to the rally. Whether you’re a long-term investor looking for reassurance or a short-term trader seeking opportunity, this is a week not to be ignored.