Earnings to Watch – Week of 13 April 2026

One of the most important earnings prints of the quarter. $JPM reports into a market that wants to know how America's largest bank reads the macro environment after a quarter marked by Middle East conflict, oil volatility, and growing concern about consumer resilience. Consensus expects EPS in the $5.38–5.50 range on revenue of around $48.5 billion, with full-year net interest income guided at $104.5 billion. Investment banking fees are expected to rise mid-to-high teens, but the real focus is credit quality: provisions are projected at upwards of $4.6 billion, a meaningful jump from a year ago. Jamie Dimon's commentary on consumer health, loan demand, and the trajectory of credit losses will set the tone for the rest of the season.

$BLK enters Q1 as the world's largest asset manager, ending 2025 with roughly $14.0 trillion of AUM, with private-markets breadth expanded by GIP, HPS and Preqin. The strategic question has shifted: BlackRock is no longer just a passive-indexing giant but increasingly a private-markets player, and the market wants to see whether alternative asset management fees are scaling fast enough to justify the acquisition spend. Consensus expects revenue around $6.5 billion with organic base fee growth in the low-to-mid single digits. Watch for net inflow trends across iShares, the revenue contribution from the private-markets acquisitions, and whether technology services (Aladdin) continues its steady mid-teens growth.

$JNJ reports in the post-Kenvue era, with FY2025 company-wide operational sales growth of 5.3% and adjusted operational growth of 4.2%. Management guided 2026 adjusted operational EPS growth of 5.3–6.8%. The key debate is whether launches such as Tremfya (IL-23 for IBD) and Rybrevant/Lazcluze (lung cancer) can offset the ongoing erosion of Stelara, which still generated about $6.1 billion of sales in 2025 but faces an accelerating biosimilar entry profile. Investors will also focus on MedTech segment trends and any commentary on tariff exposure in the device supply chain.

$ASML reports Q1 into a semiconductor cycle that remains strong on the AI side and politically charged on the China side. The company guided Q1 revenue at €8.2–8.9 billion with gross margins of 51–53%, and consensus expects it to land near the top of that range. The overhang is regulatory: bipartisan US lawmakers recently introduced the MATCH Act, which would extend export controls to ASML's deep ultraviolet lithography systems, not just EUV, potentially cutting off servicing revenue from Chinese fabs. Shares fell nearly 5% on the news. China represented about one-third of 2025 sales, and ASML expects that mix to fall to around 20% in 2026. Investors need to hear how management models worst-case scenarios on DUV restrictions and whether order intake signals sustained demand from non-China customers.

The world's largest EV battery maker reports Q1 as investors assess margin resilience, overseas execution and post-listing momentum after its $4.6 billion Hong Kong listing in May 2025. CATL held roughly 37% global EV battery market share in 2025, well ahead of BYD at around 17–18%, though the gap has been narrowing. Revenue growth has been strong but margins are the debate: battery-grade lithium carbonate prices have stabilised at lower levels, which supports gross margins, but intensifying competition from BYD and CALB is pressuring pricing in China. The international expansion story, with plant construction underway in Hungary and partnerships with Ford and BMW, is the longer-term bull case. Watch for margin trajectory, competitive dynamics in the domestic market, and whether the sodium-ion battery rollout is moving beyond pilot scale.

$TSM already released Q1 revenue of NT$1.13 trillion ($35.6 billion), up 35% year-on-year, with March alone up 45%, the strongest March in the company's history. The AI infrastructure buildout continues to pull the weight, more than offsetting softness in smartphone and PC end markets. Thursday's full results will reveal gross margins (guided at 63–65%) and, crucially, what management sees for the rest of 2026. TSMC previously guided for around 30% full-year revenue growth in USD terms, and several analysts believe it will comfortably exceed that. At roughly $1.6 trillion, the question is whether the market has already priced in AI perfection, or whether margin expansion and advanced packaging capacity still offer upside.

$NFLX reports Q1 at a moment when the bull case appears to be firing on all cylinders. Consensus expects revenue of about $12.2 billion (up roughly 15%) and EPS of about $0.76 on a split-adjusted basis, with operating margins expanding to around 32%. Netflix no longer reports quarterly subscriber adds, so investors are focused on revenue growth, margins and ad monetisation. The company said in late 2025 that ads reached over 190 million monthly active viewers globally, and expects ad revenue, which hit $1.5 billion in FY2025, to double in 2026. The three things that could move the stock: the pace of ad revenue ramp on Netflix's in-house ad tech stack, content spend discipline versus free cash flow generation, and any signal on pricing power in the ad-free premium tier.