First-quarter corporate profits start to rise this week, as some of America's largest banks and a leading streaming company are set to report their results. More than 35 S&P 500 companies are ready to publish their latest quarterly numbers, including Goldman Sachs, Bank of America and Morgan Stanley. Netflix is waiting in the wings. The reporting period got off to a rocky start on Friday. JPMorgan Chase reported better-than-expected results, but concerns about net interest income weighed on the stock. So far, about 30 S&P 500 names have posted first-quarter numbers. Of those, 80% beat expectations, FactSet data shows. Take a look at CNBC Pro's breakdown of what to expect from some of this week's key reports. All times are Eastern. Goldman Sachs is scheduled to report earnings Monday before the bell, followed by a call at 9:30 a.m. Q4: GS reported fourth-quarter revenue that beat analysts' expectations thanks to better-than-expected asset management results. This quarter: Analysts expect Goldman to report a slight increase in revenue compared to the same period a year earlier, according to LSEG. What CNBC is watching: Shares in the investment bank come in in its quarterly report after back-to-back weekly losses. Can Q1 numbers get Goldman back on track? JMP Securities analyst Devin Ryan indicated earlier this month that he prefers Goldman Sachs over rival Morgan Stanley, citing a more attractive valuation. “This opinion is not a negative on Morgan Stanley's business model but rather a comment that the valuation was already reflecting a more normalized returns profile while Goldman Sachs' valuation was temporarily wrongly evaluated for the inevitable normalization,” Ryan said. What history shows: Goldman Sachs' earnings beat estimates 85% of the time, according to Bespoke Investment Group. However, shares have fallen on three of the past five earnings days, including one 6.4% drop. Bank of America is scheduled to report earnings on Tuesday before the opening bell. A call with management is scheduled for 8:30 a.m. Q4: Airport Bank shares fell after the bank reported a drop in fourth-quarter earnings. This quarter: The Charlotte-based banking giant is expected to report a year-over-year profit decline of about 20%, according to LSEG. What CNBC is watching: Bank of America shares have struggled recently, losing 5.6% this month as investors reprice expectations of interest rate cuts. Earlier in April, UBS downgraded Bank of America to neutral from buy, noting that while the bank is theoretically earning more money at higher rates, “concerns about the economy and the portfolio (bonds held to maturity) may emerge and impact negatively impacts market multiples more.” What History Shows: Bank of America leads earnings estimates 79% of the time, according to Bespoke. The average stock fell 0.7% on earnings day but has gained after nine of the last 10 releases. UnitedHealth is scheduled to report premarket earnings, followed by a conference call at 8:45 a.m. Q4: UnitedHealth reported better-than-expected earnings and revenue, but shares fell more than 3%. This quarter: The health insurance giant is expected to post slight earnings gains and revenue growth year over year, LSEG data shows. What CNBC is watching: The health insurer goes into its first-quarter report needing a win. Shares are down 16% year to date, as fallout from a cyberattack and a smaller-than-expected increase in Medicare Advantage premiums pressure the Dow Jones Industrial Average member. Could the company's report spark a comeback? What history shows: Since early 2018, UnitedHealth has missed earnings expectations just twice, Bespoke data shows. The stock also has a history of performing well on earnings day, rising on average 0.8%. Morgan Stanley is scheduled to announce its earnings before the open. An earnings conference call is also scheduled for 9:30 a.m. Q4: MS revenue beat expectations, but its CEO warned of geopolitical and economic risks ahead. This quarter: Analysts surveyed by LSEG expect a slight decline in earnings and revenue year-over-year. What CNBC is watching: Morgan Stanley took a hit last week, losing more than 6% after the Wall Street Journal reported that several regulators were investigating how the company's wealth management division screened clients at risk for money laundering. Investors will be looking for updates on that, as well as how the bank is dealing with the changing interest rate environment. What history shows: The Wall Street bank posted a 0.8% gain on earnings day, according to Bespoke. The company also beats bottom line estimates 78% of the time. United Airlines is scheduled to report earnings after the close. A call is scheduled for the next day at 10:30 a.m. Last quarter: UAL is guided by a loss in the first quarter due to the grounding of Boeing 737 Max 9 planes. This quarter: The airline's top line is expected to grow approximately 9% year over year, according to For LSEG Company. What CNBC Airline Correspondent Leslie Josephs is watching: Investors will focus on how much United can grow in the coming months and years. United is one of the airlines feeling the pain of delayed deliveries from Boeing, and the carrier attributed the delay to its decision to pause pilot hiring this spring and put pilots on unpaid leave. There is also additional FAA oversight of United's recent mechanical issues, including a tire that fell off a 777 as it departed San Francisco last month. United said in early April that it would postpone two routes related to an FAA safety review. United canceled its investor day as it focused on reviewing the FAA's safety protocol. What history shows: United has beat earnings expectations for six straight quarters, Bespoke data shows. The stock also saw strong gains in four of those cases. Thursday, Netflix is scheduled to report its post-lockdown earnings. Management call scheduled for 4:45pm Q4: NFLX stock rose 10% on strong subscriber additions and better-than-expected revenue. This quarter: The dominant U.S. streaming platform is expected to post earnings growth of more than 50% compared to last year, according to LSEG. What CNBC is watching: Netflix shares have been on fire this year, rising more than 27%. Jason Helfstein, an analyst at Oppenheimer, noted that the momentum could continue into first-quarter earnings. He expects strong ad-supported subscriptions, and said: “Paid engagement will have a longer tail than initially expected, with only 20% of the 100 million opportunity captured so far.” What history shows: Netflix's earnings beat estimates 80% of the time, according to Bespoke. Shares averaged just a 0.1% advance on earnings day, but posted double-digit gains after the last two reports. Friday Procter & Gamble is scheduled to report earnings before the bell, followed by a call at 8:30 a.m. Q4: PG reported earnings that beat expectations as rising prices gave the company a boost. This quarter: Soap and toothpaste maker Ivory Crest is expected to report slight earnings and slight revenue growth compared to the same period a year earlier, according to LSEG. What CNBC is watching: Procter's results may be mixed, according to Morgan Stanley analyst Dara Mohsenian. In an April 7 note, he said organic sales growth could be weak, but added that gross margins could be strong. “We remain (overweight) in the long term, with continued PG market share gains with strong execution, despite weak (organic sales growth) due to weakness in the cosmetics category in China in the near term and slowing developed market category growth as prices decelerate.” , also before improving. “PG trends in FY25 weaken in China in the near term and should benefit from reinvestment in FY24,” the analyst wrote Detailed: Procter has beat earnings estimates in the last four quarters, posting earnings day gains of at least 2.6% in each case.
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A guide to the biggest this week, from Netflix to Goldman Sachs
