Beyond the Fed: Meta and Microsoft Earnings Put Markets on Edge for an Incredible Day [DATA]

Published On: Luglio 29, 2026

It will be one of the year’s most high-tension trading days. Not only will there be the Federal Reserve’s interest rate decision, but also two of the most important earnings reports, both because of the size of the companies involved and because they are at the forefront of the most important sector at the moment.

Meta and Microsoft will disclose their financial results for the previous quarter and—more importantly—will explain what they expect in the short term, which is ultimately what will interest markets most. This is provided that the figures for revenue, EPS, and CapEx spending do not diverge too significantly from market expectations.

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What to expect from Microsoft and Meta earnings

The average of analysts’ estimates for $META Meta is as follows:

Revenue: $60.2 billion
EPS: $7.20 per share

For Microsoft $MSFT, meanwhile, we have:

Revenue: $87.6 billion
EPS: 4.24 per share

In the latter case, the breakdown of revenue will also be significant. The cloud business will be under scrutiny, as it serves as a proxy for the performance of AI-related revenue at the company founded by Bill Gates.

Both earnings reports will arrive after the markets close, meaning that only after-hours market participants will be able to trade on the results. This market is not always reliable and is often subsequently contradicted when the stock exchanges reopen.

The two stocks will also be affected by the FOMC decision on interest rates by the Federal Reserve in the United States, which will come shortly before the earnings reports mentioned above.

AI looking for a lifeline

AI is desperately looking for a lifeline in what is—at least for 2026—the sector’s worst moment. SK Hynix is struggling, having even called on the Korean government, while the entire memory sector is also performing poorly, with SanDisk becoming a genuine case study.

Strong quarterly results and—more importantly—credible spending guidance for markets could become the new deciding factor in determining the reaction of the majority of stocks in the sector.

Markets are therefore holding their breath, both on the macroeconomic front and for the news that will come from companies.

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