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Earnings Roundup: Which Big Companies Beat or Missed This Week

Earnings Roundup: Which Big Companies Beat or Missed This Week

ATN BREAKING NEWS |

Earnings Roundup: Which Big Companies Beat or Missed This Week

October 22, 2026 | ATN Trade & Finance

The week of October 13–21 delivered one of the year's busiest earnings stretches, with results from the major banks, semiconductor leaders, industrials, and — after the bell Tuesday — Tesla and Meta. The headline: more beats than misses, but guidance and one-time charges are doing heavy lifting.

Banks: Goldman Soars, Others Disappoint

The big-bank week (October 13–14) split sharply. Goldman Sachs delivered the standout result: $17.01 EPS against a $13.02 estimate, with revenue of $18.68 billion topping the $16.71 billion consensus — the clearest beat of the cycle. Citigroup also beat on both lines ($2.85 vs. $2.66 EPS; $23.85B vs. $23.72B revenue), but its stock fell 5.6% on concerns about underlying credit trends. JPMorgan missed on both revenue and EPS ($5.57 vs. $5.90), though the bank raised its 2026 net interest income forecast to ~$106.2 billion. Wells Fargo beat narrowly on EPS but missed on revenue; shares fell 3%. Bank of America (October 14) missed on both lines ($1.08 adj vs. $1.10 EPS; $30.0B vs. $30.58B revenue), partly due to a $1.2 billion regulatory charge; stock fell 4.8%. Morgan Stanley reported $3.03 EPS and $20.3B revenue, with shares down 2.7%.

Semiconductors: TSMC Sets a High Bar

TSMC (October 15) reported revenue of $46.72 billion, up 41.2% year-over-year, with profit beating estimates. The company guided Q4 revenue to $52.3–$54.3 billion — well above consensus — reflecting sustained AI chip demand. Shares declined 2% despite the beat, as investors weighed geopolitical exposure.

Industrials and Defense: Mostly Strong

The October 20 industrial wave skewed to beats. GE Aerospace reported $2.25 EPS vs. $1.99 estimate, with revenue of $14.12 billion beating by $1.28 billion; the company raised full-year EPS guidance to $8.00–$8.10 and reported orders up 49%. Northrop Grumman beat at $7.89 vs. $7.18. 3M raised its profit forecast and announced an expanded Amazon data-center supply deal (approximately $6 billion cumulative). GM beat on both revenue ($50.02B, $1.26B above estimate) and EPS ($3.70 adj vs. ~$3.63 estimate), but cut full-year EPS guidance to a midpoint of $13.25 — below the $13.42 consensus — and announced a $20 billion buyback. The stock fell 7.85% on the guidance cut.

Consumer and Financials: Mixed Picture

Equifax beat adjusted EPS ($2.26 vs. $2.20) but trimmed revenue guidance; shares rose 11.3%. Hasbro posted revenue up 15% year-over-year, driven by record Magic: The Gathering sales, and raised its full-year outlook; shares jumped 11.2%. Capital One beat by $1.19 per share ($6.69 EPS) and rose ~4.5% after hours October 20. Netflix beat on subscribers and revenue for Q3 but issued Q4 revenue guidance that missed consensus; shares fell ~5.7% after hours. United Airlines reported solid Q3 results but gave weak Q4 guidance, falling ~2.2% after hours.

Tesla: Margins Rebound, Cash Burn Elevated

Tesla (after hours October 21) reported Q3 revenue of $28.05 billion, slightly above the ~$27.78 billion consensus, with non-GAAP EPS of $0.48 beating the $0.45 estimate. Auto gross margin recovered to 19.6%, up 160 basis points year-over-year, with automotive gross margin excluding regulatory credits at 18.1% against a 16.7% estimate. Deliveries reached 486,532 for the quarter. FSD subscribers grew 67% year-over-year to 1.74 million, with a 75%+ attach rate on new North American deliveries. Free cash flow was $1.53 billion, down sharply from $3.99 billion a year earlier as capital expenditures rose to $4.73 billion. Shares rose roughly 2% in after-hours trading.

Meta: Revenue Beat Obscured by $9.9 Billion Settlement Charge

Meta (after hours October 21) reported Q3 revenue of $64.6 billion, up 26% year-over-year and above the $63.38 billion consensus. However, reported EPS of $3.83 fell well short of the $4.98 analyst estimate — the result of absorbing $9.89 billion of its $16.7 billion social media addiction legal settlement in the quarter. Excluding the charge, EPS would have been $7.40. Daily active people reached 3.64 billion, up 3% year-over-year. Ad impressions rose 10% and average ad prices rose 14%. Meta guided Q4 revenue to $73–76 billion and narrowed full-year capex guidance to $135–145 billion, up sharply from prior years, driven by AI infrastructure investment. The stock rose in after-hours trading.

What this means: The week's clearest signal is that AI-driven demand is rewarding suppliers (TSMC, 3M, Meta's ad platform) while creating cost pressure for platform builders (Meta's $135–145B capex, Tesla's $4.73B quarterly spend). The bank results were noisier than they looked: Goldman's blowout, Citi's miss despite beating estimates, and JPMorgan's revenue miss despite raising NII guidance all reflect a rate environment where different business mixes are diverging sharply. For industrial investors, the GM setup — beat on the quarter, cut on the year — is the template to watch heading into Q4: strong demand, uncertain margin trajectory.

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