Earnings Pulse | 30 July 2025
Earnings Pulse | 30 July 2025
Dissecting a jampacked earnings slate across technology, consumer staples, payments and industrials.
1. Market Context
The second big wave of Q2/FY25 reports arrived this week, colliding with fresh tariff headlines and AIrelated capex chatter. Index futures drifted but singlestock volatility spiked as traders weighed beats from Alphabet, Boeing, CocaCola and Visa against eagerly awaited numbers from Microsoft, Meta and AMD.
2. BigTech Scorecard
Alphabet (GOOGL) smashed consensus with $96.4 billion in revenue (+14 % y/y) and EPS of $2.31, both comfortably above street estimates, thanks to doubledigit gains in Search, YouTube and Cloud. Management nudged FYcapex higher to fund “agentic AI,” yet the stock’s postprint advance was muted as investors braced for an antitrust remedy on August 8.
Microsoft (MSFT) closes out its fiscal year after tonight’s bell. Expectations sit at EPS ≈ $3.38 on $73.8 billion of revenue, implying midteens topline growth. Traders pushed the shares to an alltime high of $518.29 on 25 July, wagering that Azure growth will again top 30 % and that Copilot monetisation is just beginning.
Meta Platforms (META) reports in the same window. Options pricing implies a ±7 % move as the street looks for EPS of ~$5.88 on revenue > $39 billion. The focus is whether Reels ad load and Reality Labs spending can coexist without margin slippage.
3. Payments & Consumer Resilience
Visa (V) printed a robust Junequarter beat: adjusted EPS $2.98 (+23 % y/y) versus $2.84 consensus and revenue $10.2 billion (+14 %). Crossborder volumes jumped 15 %, helped by a tourism rebound. Shares nevertheless slipped 2.6 % afterhours as guidance merely reiterated “lowteens” growth; investors wanted an upgrade.
The CocaCola Co. (KO) delivered EPS $0.87 (nonGAAP, +4 %) on revenue $12.5 billion (+1 %), aided by a 6 % pricemix lift that offset a 1 % slide in volumes. Management trimmed its EPSgrowth midpoint by one point citing currency pain and commodity inflation. The stock is off 2.5 % since the call as chatter intensifies around costlier U.S. canesugar reformulations.
4. Industrial Watch
Boeing (BA) posted Q2 revenue of $22.7 billion – crushing estimates – but still lost $1.24 a share on core operations. A rising 737 MAX build rate and a $619 billion backlog impressed, yet the stock fell 4.3 % on fears that a potential IAM strike next week could stall deliveries.
5. Semiconductor Spotlight
AMD (AMD) is scheduled for 5 August; consensus looks for EPS ~ $0.54 and revenue $7.4 billion, with bulls betting on MI350 accelerator upside. Headwinds remain: exportlicense caps slice ~$700 million of China AI sales, and PC OEMs are frontloading inventory.
6. Price Drivers & CrossCurrents
Sectorwide, three forces dominate:
AI capex flywheel – Cloud giants must keep spending, helping semis and networking names.
Tariff uncertainty – New EUU.S. framework lifted Boeing sentiment but keeps consumer staples wary of cost passthroughs.
Yield curve drift – Lower 10year yields postsoftjobs data have widened valuation headroom for growth stocks, magnifying earningsday reactions.
7. Outlook
With half the S&P 500 now reported, blended Q2 EPS growth stands near +9 %. Guidance so far skews slightly conservative, hinting that macro risk premia will stay elevated. The week ahead features Apple, Amazon and Caterpillar – but tonight’s Microsoft print will set the tone.
