Q1 25 ‘Magnificent Seven’ Earnings Preview: By The Numbers

Tesla (TSLA, 9:05pm BST/4:05pm ET, 22^nd April)

Tesla stands as the worst performing ‘Mag 7’ stock YTD, with the EV manufacturer having run out of charge in the first few months of the year, nursing losses of around 40%, considerably underperforming the Consumer Discretionary sector at large. Despite that, the stock remains an index heavyweight, standing as the 10^th largest in the S&P 500, and the 9^th largest by weight in the Nasdaq 100. For the upcoming report, options price a sizeable move of +/-8.8% in the 24 hours following the release, with the stock having rallied over that period following three of the last four quarterly reports. This time around, consensus expects adjusted EPS of $0.47, on revenues of $22.1bln.

Alphabet (GOOG, 9:05pm BST/4:05pm ET, 24^th April)

Alphabet trades around 15% softer YTD, having pared declines in recent trade, though continuing to severely lag the approx. 8% YTD decline notched by the S&P 500. Taking account both the ‘A’ and ‘C’ shares, Alphabet possesses around a 3.7% weighting in the benchmark, and an even chunkier 5.2% weight in the tech-heavy Nasdaq 100. Recent post-earnings pedigree has been mixed, with 4 post-report declines in the last 6 earnings updates, while options imply a relatively modest +/- 2.75% move this time around. Street estimates for the upcoming report point to diluted EPS of $2.02, on revenues of $89.1bln.

Amazon (AMZN, 9pm BST/4pm ET, 30^th April) – subject to confirmation via Amazon IR

Amazon trades around 16% lower since the turn of the year, with the company’s business model also under significant threat as a result of the significant tariffs imposed since the beginning of the Trump presidency. From a weightings standpoint, Bezos’ firm remains the 4^th largest in both the S&P 500 and Nasdaq 100, as well as being a constituent in the Dow. While the reporting date remains subject to confirmation, options tied to the stock expiring around 30^th Apr point to a move of +/- 5.7%, with the stock having gained following 4 of the last 6 quarterly reports. This time, consensus expects diluted EPS (ex-Rivian) of $1.36, on revenues of $155.1bln.

Microsoft (MSFT, 9:05pm BST/4:05pm ET, 30^th April)

Despite sitting down by around 8% on the year, MSFT actually stands as the best performer of all the ‘Mag 7’ stocks in 2025, performing roughly in line with the S&P at large. From a weightings perspective, Microsoft remains the 2^nd largest stock in both the S&P and the Nasdaq 100, while also being the 3^rd largest in the Dow. Derivatives tied to the stock imply a move of +/- 4.3% in the day following the upcoming earnings release, with shares having ended the day in the red following the last three reports running. This time around, expectations point to adjusted EPS of $3.25, on revenues around $68.5bln.

Meta (META, 9:05pm BST/4:05pm ET, 30^th April)

Meta has also traded in relatively resilient fashion compared to peers this year, sitting around 9% lower on a YTD basis, also performing broadly in line with the market at large. Of course, the stock continues to hold a sizeable weighting in major indices, standing as the 5^th largest in the S&P 500, and 6^th largest in the Nasdaq 100. Recent post-earnings performance has been mixed, with an even split of gains and losses following the last four reports, while options price a move of +/- 7.4% for the Q1 figures. Those figures, per Street consensus, are set to show a diluted EPS at $5.29, on revenues of $41.4bln.

Apple (AAPL, 9:30pm BST/4:30pm ET, 1^st May)

Apple trades around 20% lower YTD, having faced particular headwinds amid concerns over the imposition of tariffs on Chinese imports, which pose a particularly notable risk to the firm’s supply chains. That said, the company remains the largest stock by weight in both the S&P 500 and Nasdaq 100, while also being a Dow constituent. AAPL options point to a move of +/- 3.7% in the stock following the upcoming earnings release, though the stock has declined following 5 of the last 7 reports. Expectations, this time around, point to EPS of $1.61, on revenues of $94.1bln.

Nvidia (NVDA, 9:20pm BST/4:20pm ET, 28^th May)

Nvidia, in keeping with peers, have also struggled this year, trading around 20% lower, once more with market participants jittery over the impact that tariffs may have on a stock that has, for the last couple of years, been a market darling. In any case, NVDA remains the 3^rd largest stock by weight in both the S&P 500 and Nasdaq 100, while also being a relatively new addition to the Dow. Options tied to the stock imply a move of +/- 7.75% in the day following the quarterly report, though Nvidia has ended the day in the red following 2 of the last 3 such releases. That said, this time out, consensus foresees adjusted EPS at $0.93, on revenue of $43.5bln.

Note – all figures in this note correct as of the market close on 14^th April 2025