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Q1 Earnings Season Tees Off with Strength

Early on in Q1 earnings season, with guidance for most companies already lowered to easy-to-beat levels, firms reporting after the bell Wednesday have mostly outperformed expectations. Yum! Brands (YUM), United Continental (UAL), Qualcomm (QCOM), American Express (AXP) and Discover Financial (DFS) were among the slew of companies coming out with results this afternoon to kick off the initial quarter of 2016, and Madeleine Johnson was on hand to report on them right away.

Quick service restaurateur Yum! Brands easily topped earnings estimates in Q1, but missed sales expectations just slightly. The KFC, Taco Bell and Pizza Hut restaurant chain is the world’s largest restaurant company: Yum! Brands (YUM) Stock Gains on Q1 Earnings Beat

Airline major United Continental also beat earnings estimates but missed on the top line. The stock then took a hit in after-hours trading: United Continental (UAL) Tops Q2 Earnings Estimates, Misses on Revenue

Wireless communications giant Qualcomm beat estimates on both top and bottom lines. We will look to see if this Zacks Rank #5 (Strong Sell) stock will turn around its fortunes following the company’s fiscal Q2 earnings report: Qualcomm (QCOM) Crushes Q2 Earnings and Revenue Estimates

Long-time finance player American Express also beat on both earnings and sales for its Q1 report. Late traders applauded the news and bid the stock up after the bell: American Express (AXP) Tops Earnings and Revenue Estimates

Finally, Discover Financial managed to buck its Zacks Rank #4 (Sell) rating by an earnings and revenue beat, in which sales came in far ahead of what analysts had been anticipating: Discover Financial (DFS) Crushes Q1 Earnings and Revenue Estimates

We’re just getting started with reports coming out this earnings season, and the pace of companies reporting only gets faster from here. Keep Zacks.com handy for all your earnings breakdown needs over the next few weeks.
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YUM! BRANDS INC (YUM): Free Stock Analysis Report
 
AMER EXPRESS CO (AXP): Free Stock Analysis Report
 
DISCOVER FIN SV (DFS): Free Stock Analysis Report
 
QUALCOMM INC (QCOM): Free Stock Analysis Report
 
UNITED CONT HLD (UAL): Free Stock Analysis Report
 
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