The Market's True Earnings Expectations

Go beyond the consensus and become a better stock picker with Earnings Whisper numbers, investor sentiment, and proprietary research and tools to help you capture the Post-Earnings Announcement Drift (PEAD) and outperform the overall stock market. Plus, get the most accurate earnings dates, earnings news, and insights into how stocks react before and after earnings.



Most Anticipated Earnings Releases TM

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The most anticipated earnings releases for the week beginning November 2, 2026 are AAPL Apple PLTR Palantir Technologies AMD Advanced Micro Devices TEM Tempus AI AEHR Aehr Test Systems

Earnings Whisper Grade

Every Earnings Report, Graded

Every earnings report gets a grade, A+ to F, scoring the results against the market’s true expectations — not the consensus estimate. Across 122,586 reports from Dec 2002 – Aug 2026, the grades have kept their order: failing grades trail, C grades track the market, and A+ stocks averaged 37.2% annualized — more than 3 times the S&P 500.

37.2% A+ stocks 4,882 reports
11.3% S&P 500 same holding windows
+228.0% A+ over the market annualized
December 17, 2002 – August 28, 2026 Quarterly Returns by Earnings Whisper Grade 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% F: −0.3% average over 6,009 reports (47% finished higher) F D-: +0.8% average over 6,850 reports (50% finished higher) D- D: +1.5% average over 8,651 reports (52% finished higher) D D+: +1.6% average over 13,039 reports (54% finished higher) D+ C-: +2.1% average over 15,638 reports (56% finished higher) C- C: +2.2% average over 14,823 reports (56% finished higher) C C+: +2.7% average over 14,749 reports (57% finished higher) C+ B-: +3.1% average over 13,041 reports (57% finished higher) B- B: +3.9% average over 9,161 reports (58% finished higher) B B+: +4.7% average over 8,710 reports (58% finished higher) B+ A-: +5.6% average over 4,720 reports (59% finished higher) A- A: +7.7% average over 2,313 reports (59% finished higher) A A+: +8.2% average over 4,882 reports (62% finished higher) A+ The S&P 500 has averaged 2.7% per quarter A+ Earnings 37.2% Average Annualized Return 228.0% over the S&P 500 Buying at the open following an earnings release and holding until after its next earnings release.
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The Whisper Report®

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Variable Change

Monday, October 26, 2026
It is one of the strongest starts to third quarter earnings season, but it is all about variable change.
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Earnings Preview

AMD Advanced Micro Devices is confirmed to report Tuesday, November 3, after the close.

AMD's First Helios Shipments and Server CPU Surge Face a Raised Bar This Quarter

Advanced Micro Devices enters its third-quarter report with an unusual problem for a chipmaker: management has already told investors the long-term story is running ahead of plan. Last quarter it raised its server CPU market forecast for the second time in six months, added Anthropic and a broader Microsoft commitment to its list of gigawatt-scale AI customers, and said it now expects to blow past its long-term revenue growth and earnings targets. This report, due after the close on November 3, is the first chance to see whether the September quarter backs up that confidence with numbers.

Wall Street expects non-GAAP earnings of $1.94 a share on revenue of $13.12 billion, roughly double the $0.97 earned a year ago and about 42% higher on the top line. That is a sharp step up from the $1.39 and $11.54 billion reported last quarter. Management guided to revenue of $12.7 billion to $13.3 billion, so consensus sits a bit above the $13.0 billion midpoint, in the upper half of the range but not at its ceiling. The Earnings Whisper of $1.98 is only modestly above consensus, a hint that the informal bar leans toward a beat rather than a dramatic one. Context matters here: AMD topped its own $11.2 billion guide by about 3% last quarter, and a similar margin this time would land revenue near $13.4 billion.

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Top Earnings News

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The recent, most closely watched, earnings results.

Fox Beat Consensus Estimates
Monday, November 2, 2026 at 8:00 AM
Fox (FOX) reported earnings of $2.54 per share on revenue of $4.57 billion for the fiscal first quarter ended September 2026. The consensus earnings estimate was $2.12 per share on revenue of $4.29 billion. The company beat consensus estimates by 19.81% while revenue grew 22.28% on a year-over-year basis.

Twenty-First Century Fox Inc is a diversified media and entertainment company. It operates in five business segments: Cable Network Programming, Television, Filmed Entertainment, Direct Broadcast Satellite Television, and Other Corporate and Eliminations.

Tower Semiconductor Beat Expectations, Guides In-line
Monday, November 2, 2026 at 7:00 AM
Tower Semiconductor (TSEM) reported earnings of $1.15 per share on revenue of $526.16 million for the third quarter ended September 2026. The consensus earnings estimate was $1.06 per share on revenue of $520.18 million. The Earnings Whisper number was $1.13 per share. The company beat expectations by 1.77% while revenue grew 32.98% on a year-over-year basis.

The company said it expects fourth quarter revenue of $570.0 million to $630.0 million. The current consensus revenue estimate is $573.2 million for the quarter ending December 31, 2026.

Tower Semiconductor Ltd. is the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense.

Lumentum Beat Expectations, Guides Above Estimates
Monday, November 2, 2026 at 7:00 AM
Lumentum (LITE) reported earnings of $4.57 per share on revenue of $1.26 billion for the fiscal first quarter ended September 2026. The consensus earnings estimate was $4.22 per share on revenue of $1.25 billion. The Earnings Whisper number was $4.40 per share. The company beat expectations by 3.86% while revenue grew 136.53% on a year-over-year basis.

The company said it expects second quarter earnings of $5.90 to $6.20 per share on revenue of $1.575 billion to $1.625 billion. The current consensus earnings estimate is $4.60 per share on revenue of $1.47 billion for the quarter ending December 31, 2026.

Lumentum is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide.

The Drift

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Upcoming Earnings

AI and Chips Dominate a Blockbuster Earnings Week as Investors Brace for Big Swings

October 31, 2026
AAPL PLTR AMD DIBS APP AEHR
This is one of those weeks where the market holds its breath. The marquee name is Apple, which still commands more attention than any other company on the calendar, though the mood heading in feels cautious rather than euphoric. The real energy is coming from the chip and AI crowd. Palantir arrives riding a wave of enthusiasm and genuine business momentum, and the same can be said for Advanced Micro Devices, which has quietly been one of the best stories in semiconductors. Options traders are pricing in fireworks for these names, with some of the smaller, racier tech plays like Fastly, Super Micro, and Astera Labs expected to lurch by double digits in either direction the moment the numbers hit. In short, if you like drama, the technology sector is serving a full menu.
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Recent Positive Earnings

GKOS 12.6% since the report




Trusted Earnings Research Since 1998

For more than 25 years, investors and financial professionals have used Earnings Whispers to look beyond consensus estimates and better understand the expectations driving stock prices around earnings.

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