Big Tech Earnings: Three Things to Know For Facebook, Amazon, Google

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The heavy hitters of the U.S. market are primed to report earnings, and investors should be primed to read the earnings. 

Facebook (FB) - Get Report , Amazon (AMZN) - Get Report and Google (GOOGL) - Get Report report earnings soon. Here are three things to know. 

Facebook

Facebook has beaten earnings estimates for all eight out of its last eight quarters. That may sound like a tough act to continue, but clearly management has executed on its quarter-to-quarter strategy. Facebook is looking for adjusted earnings per share growth of 7.9% year-over-year, with Wall Street's expected EPS number at $1.88. Analysts are looking for revenue growth of 24.7% to $16.49 billion. Facebook's long-term growth engine is Instagram, and investors are sure to eyeball the how well Facebook is sustaining its user and monetization growth rates for the platform. 

Facebook reports earnings on July 24 after the market closes. 

Amazon

A positive quarter from Amazon could see the stock through to a $1 trillion market cap. The company currently has a market value of $967 billion, so a mere 3% up move would get the tech behemoth to the $1 trillion mark. This would mark the first time since September 2018 that two companies are worth $%1 trillion. At that time, Apple (AAPL) - Get Report and Microsoft (MSFT) - Get Report were both at the high-water mark. Even with the stock at such a high level, the average analyst price target of above $2,000 a share has Amazon gaining 15% more a year from now. 

Amazon reports earnings on July 25 after the market closes. 

Google

Google parent company Alphabet announces earnings on July 25 after the market closes. Wall Street is looking for adjusted earnings per share to come in 5% above where it did in the same period last year, at $13.95. Meanwhile, revenue growth is expected to be 18.5% at $31.08 billion. Where will the next wave of growth come from? Investors will be listening out on the earnings call for that. Higher costs have been a part of the picture for the search giant of late.