Mega-Cap Earnings Season
Alphabet, Meta, Microsoft & Amazon report tonight
Four of the world’s largest technology companies report quarterly earnings today, Wednesday, April 29, 2026, after the market close. Investors remain laser-focused on the payoff from massive AI capital expenditures, cloud acceleration, and advertising resilience. With a combined market capitalization of roughly $12 trillion, this earnings window ranks among the most consequential of the year.
Reporting Today — After Close
Alphabet
Reporting This EveningAnalysts expect Google Cloud revenue to surge 47–50% to roughly $18.4 billion, making cloud the central storyline for Alphabet’s quarter.
Microsoft
Reporting This EveningEyes on Azure growth (guided 37–38%) and AI monetization clarity. Last quarter saw a sharp stock decline despite strong beats — investors want narrative confidence alongside the numbers.
Meta Platforms
Reporting This EveningTracking advertising revenue strength against the enormous $115B–$135B 2026 Capex guidance for AI infrastructure, including the Muse Spark model. The market will want tangible return signals to justify the investment scale.
Amazon
Reporting This EveningAWS growth has accelerated for three consecutive quarters. Investors are watching for a fourth straight acceleration alongside updates on Amazon’s $200B AI infrastructure plan.
Already Reported — Q1 2026
Tesla
Reported Apr 22Management signaled a deliberate strategic pivot toward AI and robotics, away from a traditional automaker identity.
- AI Infrastructure: $25 billion Capex planned for 2026 to fund AI research, the Cortex supercomputing cluster at Giga Texas, and the Optimus humanoid robot project.
- Next-Gen Vehicles: Production has officially begun for the Cybercab (Robotaxi) and Tesla Semi, with volume production targeted for later in 2026.
- Full Self-Driving: Elon Musk described the upcoming v15 update as the “last piece of the puzzle” for unsupervised autonomy. Active FSD subscriptions have reached 1.28 million users.
- Energy Storage: Division posted record gross margins of 39.5%, though partially inflated by $250 million in one-time tariff recognitions.
Upcoming — Fiscal Calendar Note
NVIDIA
Expected May 20NVIDIA operates on a unique fiscal year running February–January. Their Q1 FY2027 does not close until late April, requiring additional time to close the books — hence a late May report date rather than the April window shared by most large-cap tech peers. The company is coming off a strong Q4 where it reported $68.1 billion in revenue, handily beating expectations.
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