The 2026 Q1 earnings season is nearly in full swing, with a wide variety of companies expected to report results in the coming weeks. Expectations remain positive, though geopolitical concerns bring uncertainty surrounding the actual results.
Outside the big banks, this week’s docket includes several notable companies, including Netflix NFLX, PepsiCo PEP, and Taiwan Semiconductor TSM. TSM and PEP will report before the open on April 16th, whereas NFLX is slated to deliver its results after the close on the same day. Let’s take a closer look at estimates heading into the releases.
Netflix Bounces Back
Netflix has continued to protect its leading streaming position by doubling down on original content, introducing new revenue streams such as ad-supported membership tiers, and supporting live sports events.
The company’s shares have been a rollercoaster over the past year, initially tumbling before entirely reversing course following the announcement that it had backed out of its intended acquisition of WBD, refusing to match Paramount's offer.
Shares are up more than 35% since the announcement, with the stock also now sporting a favorable Zacks Rank #2 (Buy). As shown below, EPS estimates for the upcoming release have remained stable over recent months, while other periods have seen their estimates tick higher.
Image Source: Zacks Investment Research
Revenue expectations have followed a similar stable path over recent months, with estimates suggesting 15% EPS growth on 15% higher sales. Shares aren’t overly stretched relative to its history, with the current 30.5X beneath the 32.6X five-year median. Still, the multiple does reflect a 43% premium relative to the S&P 500.
PepsiCo Profitability Remains Key
PepsiCo shares popped on its latest set of better-than-expected results, with improved operational efficiencies leading to 15% year-over-year EPS growth. The stock has since given back most of the post-earnings gains, though favorable commentary surrounding margins and tariffs could easily deliver momentum for shares again.
Shares remain up nearly 9% on the year, though, with positive reactions coming in each of its last three quarterly releases. Similar to NFLX above, revisions for the quarter to be reported have largely been stable, as shown below.
Image Source: Zacks Investment Research
Revenue revisions have seen small positivity, with PEP still expected to deliver 5.8% YoY sales growth on 4.7% higher earnings. The expected sales growth rate reflects a decent acceleration relative to recent periods, with the expected earnings growth rate also outsized relative to what’s been delivered over recent years.
TSM Keeps Enjoying Momentum
TSM shares have continued to deliver outperformance in 2025 given its critical role in the semiconductor industry, gaining 21% compared to a flat YTD performance from the S&P 500.
TSM’s EPS outlook remains nicely bullish across the board, with revenue expectations also showing the same trajectory. The current consensus estimates for the upcoming release reflect 55% earnings growth on 40% higher sales, continuing its recent growth momentum amid the AI frenzy.
Image Source: Zacks Investment Research
It’s reasonable to expect that the company will continue to forecast a favorable demand environment given its critical standing within the chip industry, with shares seeing favorable post-earnings reactions across its last three quarterly releases.
Putting Everything Together
The 2026 Q1 earnings season is kicking into a much higher gear this week, and outside of the big banks, several notable companies are on the reporting docket, including Taiwan Semiconductor TSM, Netflix NFLX, and PepsiCo PEP.
For Netflix, keep an eye out for its ad-supported tier momentum and overall success within its live sports foray, whereas PepsiCo’s reaction will likely be driven by its profitability picture. Taiwan Semiconductor’s critical role in the chip industry will again be on display, with the AI frenzy helping out its demand picture in a big way.
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This article originally published on Zacks Investment Research (zacks.com).