Daily Earnings Recap: July 16

U.S. Companies (Wall Street)

The earnings season on July 16, 2025, showcased notable performances from several U.S. companies, reflecting a mixed market environment influenced by trade tensions and expectations of interest rate cuts. Goldman Sachs reported a standout performance for the second quarter, posting an EPS of $10.91, surpassing expectations of $9.82-$9.94, and revenues of $14.58 billion, exceeding forecasts of $13.5-$13.54 billion. The bank’s equity trading segment was particularly notable, generating $4.3 billion in revenue (+36% year-over-year), driven by market volatility from trade tariff concerns. However, asset and wealth management revenues of $3.78 billion fell short of expectations, down 3% due to weaker private equity gains. The stock rose 2.2% in morning trading, though it remains down 14% year-to-date due to broader market pressures.

Johnson & Johnson also delivered strong results, reporting an EPS of $2.77 against expectations of $2.68 and revenues of $23.74 billion, topping forecasts of $22.86 billion. The pharmaceutical sector’s robust performance made these results noteworthy, supporting stability in the healthcare sector. Levi Strauss & Co exceeded quarterly estimates and raised its full-year guidance, driving a 10.2% surge in its stock price, a highlight for the consumer discretionary sector. Conversely, Meta Platforms saw its stock dip 2% due to regulatory concerns in Europe over its “pay or consent” model, marking a notable negative performance despite no earnings release on this date.

European Companies

European markets faced challenges from U.S. trade tariff threats, with the STOXX 600 index declining 0.4%. No specific European company earnings were confirmed for July 16, but the broader market sentiment was cautious due to ongoing trade negotiations, impacting sectors like technology and automotive.

Earnings Expected on Thursday, July 17, 2025

U.S. Companies (Wall Street)

PepsiCo was scheduled to announce its second-quarter earnings on July 17, 2025, at 6:00 AM ET, with a management call at 8:15 AM. Analysts expected an EPS of $2.03, down 11% from $2.28 in Q2 2024, and revenues of $22.4 billion, a slight 0.5% decline from $22.5 billion the previous year. PepsiCo faced headwinds in North America, with a 1% volume drop in Frito-Lay and a 3% decline in beverages in Q1, alongside rising supply chain costs and tariff impacts. However, strong international market growth (+5% in Q1) was anticipated to bolster revenues, potentially aligning with or slightly exceeding expectations. The stock closed at $135.35 on July 16, with analysts projecting a 12.7% upside to $147.63, supported by a 4.01% dividend yield. PepsiCo’s results were expected to be mixed but closely watched due to its challenges in North America.

Other U.S. companies, such as Netflix, T-Mobile, or Coca-Cola, were likely to report during this week, though specific confirmations for July 17 were unavailable. The broader market anticipated a 5.9% earnings growth for S&P 500 companies in Q2, driven by technology and consumer sectors.

European Companies

ASML, a leading European semiconductor equipment supplier, announced its Q2 earnings on July 17, 2025. The company reported strong bookings that exceeded expectations, but a warning of flat growth in 2026 triggered an 11.4% drop in its stock, the largest in nine months. This performance was highly notable, impacting the broader chip sector, with companies like BE Semiconductor and STMicroelectronics declining 2.1% to 5.2%. Renault, the French automaker, issued an earnings warning, leading to an 18.5% plunge in its stock, significantly affecting the European automotive sector, which fell 1.8%. Both companies’ results were mixed, with ASML’s bookings providing a positive note but overshadowed by future guidance, while Renault’s performance was notably below expectations.

Summary of Notable Performances

Exceeded Expectations: Goldman Sachs and Johnson & Johnson delivered strong earnings, surpassing analyst forecasts, while Levi Strauss & Co’s raised guidance boosted its stock significantly. ASML’s bookings also beat expectations, though tempered by future concerns.

Met Expectations: Some U.S. financial institutions, like Bank of America and PNC, likely aligned with forecasts, though specific data was limited.

Below Expectations: Renault’s earnings warning and ASML’s cautious 2026 outlook disappointed investors, leading to sharp stock declines. PepsiCo’s anticipated results suggested potential EPS weakness due to cost pressures.

Notable Performances: Goldman Sachs’ equity trading surge, Levi Strauss’ stock rally, ASML’s and Renault’s significant stock drops, and Johnson & Johnson’s healthcare strength stood out as key market movers.