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The 2026 Q2 earnings season is in full swing following the release of the big banks’ results, with many other notable companies on deck in the coming days and weeks.
Concerning this week’s docket, several Mag 7 members, Tesla (TSLA - Free Report) and Alphabet (GOOGL - Free Report), are scheduled to report.
Tesla Underperforms
Tesla shares haven’t had a strong showing in 2026 so far, down roughly 15% and underperforming and facing mixed post-earnings reactions. Its results in 2026 have been largely positive from an expectations standpoint, exceeding the Zacks Consensus EPS estimate by double-digit percentages in back-to-back prints.
Both EPS and sales expectations have trended higher over recent months, a bullish development as the company gears up to release its results. Earnings are forecasted to climb 22% YoY, whereas revenue is forecasted to see a 12% YoY climb.
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Alphabet Matches S&P 500 Performance
Alphabet shares have delivered a return on par with the S&P 500 so far in 2026, seeing huge positivity following the latest set of quarterly results. Alphabet has overall continued its stellar earnings track record in 2026, beating both EPS and revenue expectations in each 2026 release so far.
Like TSLA, Alphabet has seen bullish EPS and sales revisions for the quarter to be reported over recent months, but the revisions as of late have been more stable than anything. Though there haven’t been upward revisions recently, the stability here is still a positive takeaway. The tech giant is expected to continue its growth trajectory yet again, with earnings and revenue expected to be up 23% and 24%, respectively.
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Bottom Line
With the 2026 Q2 earnings season in full swing, investors will have a flurry of earnings reports to sort through in the coming weeks. The big banks kicked the period off in style, largely posting solid results while also providing solid read-throughs for coming periods.
And coming next week is a duo of Magnificent 7 members, namely Tesla and Alphabet, who both head into their reports with favorable revisions for both earnings and revenue. Google Cloud results will remain key for Alphabet, whereas Tesla's margin picture is a key item to watch
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