Q1 2026 Earnings Preview: May 18–22, 2026 | NVDA, WMT, HD, LOW, TGT, BIDU, TTWO, DE

Key Points

• NVIDIA is the undisputed headline event of the week, reporting fiscal Q1 FY2027 results on Wednesday, May 20. Analysts project revenues near $78–80 billion with EPS around $1.77, representing approximately 78% year-over-year revenue growth. Citi believes NVIDIA could beat by an additional $1.4 billion.
• Retail dominates Tuesday and Wednesday, with Home Depot, Lowe's, Target, TJX Companies, and BJ's Wholesale Club all reporting. The central question across all five is how tariffs, a sluggish housing market, and cautious consumer spending are shaping demand.
• Walmart kicks off Thursday's session with its Q1 FY2027 earnings, where analysts expect $0.65 EPS on roughly $172.5–$174.6 billion in revenue — a company near all-time highs and up ~15% year-to-date.
• Deere & Company reports Q2 FY2026 on Thursday; consensus EPS sits at ~$5.70–$5.81, representing a ~12.6% year-over-year decline as the agricultural equipment cycle continues its normalization.
• Take-Two Interactive closes Thursday with its highly anticipated Q4 FY2026 and full-year results, but investor eyes will be firmly fixed on fiscal 2027 guidance and GTA VI's November 19, 2026 launch trajectory.
• Baidu and Ryanair Holdings open Monday with their respective quarterly and full-year results. Baidu's pivot from a legacy search giant to an AI company will be tested by its Q1 2026 numbers. Ryanair reports its full FY2026 year-end results.
• Intuit delivers Q3 FY2026 results on Wednesday, the quarter that captures the heart of the U.S. tax season; consensus EPS is ~$11.13–$12.24.
• POET Technologies already reported its Q1 2026 results on May 13–14 (ahead of this earnings week) amid an active securities class action lawsuit related to a cancelled order from Celestial AI/Marvell.

Monday, May 19 — Technology & Industrials Kickoff

Baidu, Inc. — AI Ambitions vs. Legacy Drag

Reports: Monday, May 18 | Pre-Market | Q1 2026

Baidu, Inc. (BIDU) was once synonymous with Chinese internet search, but the company is now in the midst of a high-stakes transformation into an artificial intelligence powerhouse. As the company reports its Q1 2026 results on Monday, May 18, the narrative is firmly split between an accelerating AI segment and a legacy advertising business still under pressure.

In Q4 2025, Baidu reported total revenue of RMB 32.7 billion ($4.68 billion), a 5% quarter-over-quarter increase, though full-year 2025 revenue declined 3% year-over-year to RMB 129.1 billion ($18.1 billion) due to persistent weakness in its traditional advertising division. The standout story was the AI-powered business segment, which surpassed RMB 11 billion in Q4 alone and constituted 43% of general business revenue — a proportion rising rapidly as the company shifts its disclosure framework to highlight AI progress. AI cloud infrastructure revenue for full-year 2025 grew 34%, with subscription-based revenue from AI accelerator infrastructure surging 143% year-over-year in Q4. Apollo Go, Baidu's autonomous ride-hailing division, completed 3.4 million fully driverless rides in Q4 2025, with total rides up more than 200% year-over-year.

For Q1 2026, the consensus EPS forecast stands at approximately $1.55–$1.68, with revenue estimates clustering around RMB 31.53 billion (~$4.4 billion) based on 14 analyst forecasts. Investors will be scrutinizing whether AI cloud subscription momentum can continue to offset the advertising headwinds that have weighed on consolidated results. The approaching Kunlunxin spinoff and Baidu's announced $5 billion share buyback program through 2028 add further complexity to the investment thesis. Wall Street's average 12-month price target stands at $158.05, based on 23 analysts, with estimates ranging widely from below $100 to above $270.

Why it matters: Baidu's Q1 report will serve as a real-time gauge of whether China's AI infrastructure buildout is translating into durable enterprise revenue. A meaningful beat — or a fresh update on Apollo Go's unit economics and the Kunlunxin IPO timeline — could re-rate a stock that many analysts still view as deeply undervalued relative to its AI assets.

Ryanair Holdings plc — Full-Year FY2026 Results

Reports: Monday, May 18 | Pre-Market | Full Year FY2026

Ryanair Holdings plc (RYAAY) is Europe's largest low-cost carrier, and Monday's release will be its definitive scorecard for the full fiscal year ending March 31, 2026. The company had already provided investors with a rich preview across three quarterly updates, leaving only Q4 — Ryanair's seasonally weakest period — to finalize the picture.

The airline delivered exceptional first-half FY2026 results, with profit after tax (PAT) surging 42% year-over-year to €2.54 billion as traffic grew 3% to 119 million passengers and average fares rose 13%. Total H1 revenues climbed 13% to €9.82 billion, while costs increased only a modest 4%, demonstrating Ryanair's legendary cost discipline. Through the first nine months of FY2026, scheduled, ancillary, and total revenues grew 15%, 6%, and 12% respectively. However, Q3 PAT came in at €115 million, a 22% year-over-year decline, as winter seasonality and elevated air traffic control costs weighed on the quarter.

Management's full-year guidance pointed to pre-exceptional PAT between €2.13 billion and €2.23 billion, a range that remained subject to external risks including geopolitical tensions and European ATC disruptions. Analysts are projecting EPS of approximately -$0.96 for the Q4 period alone — unsurprising given the seasonal nature of the airline business. Notably, Ryanair ended the year with plans to repay its last remaining bond of €1.2 billion in May 2026 from internal cash resources, a signal of extraordinary balance sheet health.

Why it matters: The full-year confirmation will set the tone for FY2027 guidance, which investors expect to be buoyed by fleet expansion, continued fare recovery, and a robust European summer travel season. Any commentary on Boeing MAX deliveries, FY2027 capacity plans, or hedging positions will be closely watched by aviation sector investors.

Tuesday, May 19 — Consumer Discretionary & Technology

The Home Depot, Inc. — Navigating the Housing Market Crosscurrents

Reports: Tuesday, May 19 | Pre-Market | Q1 FY2026

The Home Depot, Inc. (HD) is the world's largest home improvement retailer, and its Q1 2026 report arrives at a critical juncture for the housing-linked sector. With mortgage rates still elevated and existing home sales volume subdued, the company faces a challenging backdrop even as it benefits from resilient demand from professional contractors and an aging housing stock requiring ongoing maintenance.

Analysts expect Q1 FY2026 EPS of $3.42, a decline of approximately 3.9% versus the year-ago period, on revenue of approximately $41.5–$41.6 billion — implying year-over-year sales growth of roughly 4.2%. This compares to Q1 FY2025 when Home Depot reported net sales of $39.9 billion, a 9.4% year-over-year increase driven partly by the SRS Distribution acquisition. For fiscal 2026, management guided for same-store sales growth of flat to 2%, below analyst hopes of ~2.34%, while adjusted EPS was forecast to grow 0–4% against an analyst consensus of 5.6%. The Pro customer segment — contractors, builders, and tradespeople — continues to be Home Depot's most resilient growth driver, supported by the ongoing buildout of its B2B digital tools and supply chain infrastructure. Telsey Advisory maintained its Buy rating heading into the report, while Sanford C. Bernstein recently lowered its price target to $365.

Why it matters: Home Depot is a bellwether for the entire home improvement sector and a proxy for the health of U.S. housing activity. Its outlook commentary on consumer behavior, Pro demand trends, and tariff pass-through risks will set expectations not only for Lowe's — which reports the very next day — but also for the broader construction and building materials ecosystem.

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Keysight Technologies, Inc. — Riding the Test Equipment Recovery

Reports: Tuesday, May 19 | After Market Close | Q2 FY2026

Keysight Technologies, Inc. (KEYS) is the global leader in electronic design and test solutions, serving customers in aerospace & defense, semiconductor, wireless communications, and automotive sectors. The company reports fiscal Q2 2026 results (quarter ending April 30) on Tuesday evening, building on a strong prior-quarter beat.

In Q1 FY2026 (ending January 2026), Keysight delivered actual EPS of $2.17, beating the analyst consensus of $2.00 by 8.5%, on revenue of $1.60 billion. For Q2, the Zacks Consensus revenue estimate stands at $1.72 billion, indicating year-over-year growth, while analyst EPS estimates range from approximately $2.00–$2.26. Keysight has posted a trailing four-quarter average earnings surprise of +4.58%. With its earnings expected to grow 20.23% to $9.45 per share next year from a trailing $7.86, the company's premium valuation — trading at a P/E ratio of 63.53 as of recent data — reflects investor expectations for accelerating growth as 5G infrastructure buildout and AI chip verification demand intensify.

Why it matters: Keysight's results serve as a leading indicator for electronics and semiconductor R&D spending globally. A beat alongside bullish guidance around AI chip testing, 6G research, and defense electronics would reinforce the cyclical recovery thesis that has driven much of the technology hardware sector's outperformance in 2026.

KE Holdings Inc. — China's Real Estate Recovery Under the Microscope

Reports: Tuesday, May 19 | Pre-Market | Q1 2026

KE Holdings Inc. (BEKE) — operating as Beike — is China's leading technology-driven real estate services platform, connecting buyers, sellers, and renters through its integrated online-offline brokerage ecosystem. The company reports Q1 2026 results on May 19, providing an important read on the health of China's housing market recovery.

In Q4 2025, KE Holdings reported EPS of $0.07, meeting analyst expectations precisely. For Q1 2026, analysts project EPS of $0.12–$0.14 on revenue of approximately $2.67–$2.70 billion. Goldman Sachs recently upgraded BEKE to Buy with a $21 price target, citing the recovery of existing home transactions and price stabilization in Tier-1 Chinese cities. Barclays ($23) and Griffin Securities ($24.40) also maintain Buy ratings, with a consensus Moderate Buy average target of $22.31, implying approximately 18.5% upside from recent levels. The consensus of seven analysts reflects cautious optimism about China's property market stabilization following years of sector-wide distress.

Why it matters: KE Holdings is one of the clearest windows into Chinese residential real estate demand — the world's largest asset class by value. Strong existing home gross transaction value (GTV) growth or continued expansion in its renovation and rental verticals could accelerate positive earnings revisions, while any re-tightening of Chinese property policy remains the primary downside risk.

Wednesday, May 20 — The Tech Supercycle and Off-Price Retail

NVIDIA Corporation — The Quarter Every Investor Is Watching

Reports: Wednesday, May 20 | After Market Close | Q1 FY2027

NVIDIA Corporation (NVDA) is the defining stock of the current AI investment cycle, and its Q1 fiscal year 2027 earnings (quarter ending April 26, 2026) will be the single most-watched corporate earnings event of the year so far. The company has delivered four consecutive quarters of extraordinary beats, posting EPS of $0.81, $1.05, $1.30, and $1.62 against consensus estimates of $0.75, $1.02, $1.26, and $1.54, respectively, across fiscal 2026.

For Q1 FY2027, the Wall Street consensus EPS estimate stands at approximately $1.77, against projected revenues of roughly $78–$78.6 billion, implying approximately 78% year-over-year revenue growth. However, key sell-side desks are more aggressive: Citi projects revenues of approximately $80 billion, beating consensus by ~$1.4 billion, driven by a stronger-than-expected ramp of the Blackwell B300 GPU architecture. Goldman Sachs analyst James Schneider forecasts $80 billion in Q1 revenue and is looking ahead to Q2 guidance of approximately $87.7 billion. On Polymarket, the probability of NVIDIA beating consensus estimates was hovering around 90%. For fiscal year 2027 as a whole, the EPS midpoint consensus sits near $8.43 per share.

The Data Center segment remains NVIDIA's crown jewel, growing from under $5 billion quarterly just two years ago to the dominant portion of the current revenue base. The transition from the Hopper H100 to the Blackwell B200 and B300 series has been the primary revenue driver, with hyperscalers and sovereign AI programs continuing to place multi-quarter forward orders to secure GPU allocation. For fiscal Q4 2026, NVIDIA reported revenue of $39.3 billion at a normalized quarterly run rate that itself represented a 73% year-over-year increase, with a strong 20% sequential gain.

Why it matters: NVIDIA's quarterly results have become a macro event. Its revenue guidance for Q2 FY2027 will be treated as a forward indicator for the global AI capital expenditure cycle. If NVIDIA reaffirms that hyperscaler GPU demand shows no signs of deceleration, it validates continued spending by Microsoft, Amazon, Google, and Meta — and sustains momentum across the entire AI infrastructure supply chain from memory to networking to cooling.

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Analog Devices, Inc. — Semiconductor Cycle Turns Favorable

Reports: Wednesday, May 20 | Pre-Market | Q2 FY2026

Analog Devices, Inc. (ADI) is a premier analog and mixed-signal semiconductor company whose products sit at the heart of industrial automation, data center infrastructure, automotive electronics, and communications systems. The company reports fiscal Q2 2026 results (quarter ending April 2026) on Wednesday morning.

In Q1 FY2026, Analog Devices delivered EPS of $2.46, beating the consensus estimate of $2.31 by 6.49%. For Q2 2026, management provided guidance of approximately $3.50 billion in revenue and EPS of $2.88, figures that came in well above the analyst consensus of $3.23 billion and $2.31 at the time of their Q1 report. The current consensus EPS for Q2 stands at approximately $2.88–$2.90 on expected revenue of $3.51 billion. Full-year FY2026 adjusted EPS is expected to increase 45.7% year-over-year to $11.35, reflecting a powerful cycle recovery from the inventory corrections of 2024. Industrial, communications, and data center markets are all cited as growth drivers, with AI infrastructure investment a key incremental demand source.

Why it matters: ADI is broadly considered a "picks and shovels" play on electrification, industrial automation, and AI infrastructure. Its Q2 results will confirm whether the analog semiconductor cycle has definitively turned, with implications for a wide range of industrial and infrastructure technology companies.

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The TJX Companies, Inc. — Off-Price Retail Stays in Fashion

Reports: Wednesday, May 20 | Pre-Market | Q1 FY2027

The TJX Companies, Inc. (TJX) operates the world's largest off-price apparel and home fashions retail chain, with flagship banners T.J. Maxx, Marshalls, HomeGoods, and international chains including Winners and TK Maxx. The company reports Q1 FY2027 results (quarter ended May 3, 2026) on Wednesday, May 20.

Management guided for Q1 comparable sales growth of 2–3%, pretax profit margin of 10.3–10.4%, and EPS of $0.97–$0.99. Analysts broadly expect EPS of approximately $1.00, an 8.7% increase from the $0.92 reported in Q1 FY2026, on revenue of approximately $13.99 billion. TJX has beaten consensus EPS estimates in each of the last four quarters, with Q4 FY2026 EPS of $1.43 surpassing the consensus by 3.6%. Management has described merchandise availability as "off the charts," benefiting from excess inventory among department store chains and branded suppliers. For full-year FY2027, analysts project EPS of $5.06, a 7% rise from the $4.73 reported in FY2026.

Why it matters: TJX's off-price model thrives during economic uncertainty, when consumers trade down and branded vendors overproduce. In an environment shaped by tariff-driven cost pressures and softening discretionary spending, TJX's treasure-hunt proposition is uniquely resilient. Strong Q1 results and maintained guidance would validate its premium valuation and reinforce the structural shift toward value-oriented retail.

Lowe's Companies, Inc. — Partner-in-Arms with Home Depot

Reports: Wednesday, May 20 | Pre-Market | Q1 FY2026

Lowe's Companies, Inc. (LOW) is the second-largest home improvement retailer in North America and a near-perfect mirror image of Home Depot's macro exposure. Reporting on the same morning as its larger rival, Lowe's Q1 2026 results will complete the picture of the home improvement sector's trajectory.

Analysts expect Q1 FY2026 EPS of $2.96, with revenue of approximately $22.95–$22.97 billion. Lowe's has historically catered more heavily to the do-it-yourself (DIY) consumer than Home Depot, making it somewhat more exposed to softness in large-ticket discretionary renovation projects when household budgets are squeezed. Sanford C. Bernstein recently lowered its Lowe's price target to $281, reflecting caution about the housing market backdrop. Full-year 2026 revenue is projected at approximately $93 billion across the analyst range, with consensus revenue guidance for fiscal 2027 at $96.3 billion.

Why it matters: Together, Home Depot and Lowe's on the same earnings day create the definitive read on U.S. home improvement sentiment. Any divergence — such as Lowe's commenting more cautiously on DIY consumer demand while Home Depot highlights Pro strength — would provide nuanced insights into which consumer segments are weathering the current economic environment most effectively.

Intuit Inc. — Tax Season's Final Score

Reports: Wednesday, May 20 | After Market Close | Q3 FY2026

Intuit Inc. (INTU) is the global financial technology platform behind TurboTax, QuickBooks, Credit Karma, and Mailchimp. It reports its fiscal Q3 2026 results (quarter ending April 30, 2026) on May 20 — the quarter that captures the apex of the U.S. tax filing season.

This is structurally Intuit's most important quarter each year. For Q3 FY2026, analysts project EPS of approximately $11.13–$12.24 on strong seasonal revenues, reflecting a 6.6–17% increase from the prior-year period. In Q2 FY2026, Intuit delivered EPS of $4.15 — beating the consensus of $3.10 by a remarkable 33.87% — on revenues of $4.65 billion, a 17% year-over-year increase that also topped consensus. The Consumer segment generated $1.5 billion in Q2 revenues (up 15%), Credit Karma grew 23%, and TurboTax grew 12%. For full-year FY2026, Intuit reiterated guidance of $20.997–$21.186 billion in revenue, representing approximately 12% annual growth. However, management cautioned that Q3 EPS could come in below prior Wall Street estimates due to elevated marketing spend to drive TurboTax adoption, guiding for Q3 adjusted EPS of $12.45–$12.51 at its Q2 call.

Why it matters: Intuit's Q3 is the highest-revenue, highest-margin quarter in its fiscal year, and the results will crystallize the strength of the 2026 tax season — including the adoption of AI-powered filing features and competitive positioning against IRS Direct File. Any upside in TurboTax Live assisted returns or QuickBooks recurring subscriptions could provide a substantial full-year EPS revision catalyst.

Target Corporation — Discount Retail Tests Consumer Resolve

Reports: Wednesday, May 20 | Pre-Market | Q1 FY2027

Target Corporation (TGT) is one of America's most iconic general merchandise retailers, blending grocery, apparel, home goods, and beauty across roughly 2,000 stores and a fast-growing digital platform. It reports Q1 FY2027 results (quarter ending May 3, 2026) before the market opens on Wednesday, May 20.

Wall Street expects Q1 FY2027 EPS of $1.34–$1.35, representing a year-over-year increase of approximately 3.1%, on revenues of $24.28–$24.57 billion — a 1.8% top-line increase. This follows Q4 FY2026 when Target delivered EPS of $2.44, a 12.96% beat over consensus of $2.16. Analysts, however, have been trimming estimates: the consensus EPS for Q1 has been nudged down 0.26% in recent weeks. The company faces competing pressures — tariff-driven cost inflation, competition from Walmart and Amazon in general merchandise, and a consumer that has been trading down to private label. Truist Financial recently raised its Target price target to $123, while Deutsche Bank adjusted its target to $123 from $119, maintaining a Hold.

Why it matters: Target's results will round out a critical Wednesday trio with Home Depot, Lowe's, and TJX, providing a panoramic view of the American consumer's spending posture. Commentary on same-store sales trends in discretionary versus staples categories, along with any tariff-related cost guidance, will be closely parsed against Walmart's report the following morning.

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POET Technologies Inc. — Already Reported: Turbulence in Silicon Photonics

Already Reported: May 13–14, 2026 | Q1 2026

POET Technologies Inc. (POET) is a Canadian fabless semiconductor company designing silicon photonics solutions — specifically its proprietary Optical Interposer platform — for AI data centers, high-performance computing, and telecommunications networks. POET was listed in this earnings calendar period but notably reported its Q1 2026 results on May 13–14, slightly ahead of the May 18–22 window.

The company reported Q1 2026 EPS of -$0.08, missing the consensus estimate of -$0.05, while revenue of $503,389 in NRE and product sales exceeded the $347,970 estimate by 44.7%. Q4 2025 results were a significant miss, with EPS of -$0.32 versus an expected -$0.06. Beyond the headline numbers, POET is navigating a deeply turbulent period: shares plunged over 47% on April 27 after Celestial AI (acquired by Marvell) cancelled all purchase orders, citing alleged confidentiality violations. Multiple securities class action lawsuits have since been filed, with deadlines in June 2026, alleging that company executives made false and misleading statements regarding POET's PFIC tax status and the viability of the Marvell/Celestial AI relationship. Despite the controversy, POET continues to execute on its technology roadmap — announcing a joint development program with Lumilens for wafer-level photonic integration in AI optical networks, and a partnership with LITEON Technology for co-packaged optics.

Why it matters: POET sits at the intersection of two of the hottest themes in semiconductors: silicon photonics and AI data center connectivity. Investors watching the space will be monitoring whether the company's technology partnerships with OFC-showcased products can rebuild market confidence after the Celestial AI controversy, and how management addresses the ongoing litigation risk on its next earnings call.

Thursday, May 21 — Retail Titans and Industrial Giants

Walmart Inc. — The Consumer Bellwether Faces the Tariff Test

Reports: Thursday, May 21 | Pre-Market | Q1 FY2027

Walmart Inc. (WMT) is the world's largest retailer and, increasingly, a data and advertising platform of global scale. Heading into its Q1 FY2027 earnings on Thursday, May 21, Walmart stock is up approximately 15% year-to-date in 2026, trading near all-time highs. The consensus view is firmly bullish: of 38 analysts covering the stock, 30 recommend Strong Buy, five recommend Moderate Buy, two Hold, and one Strong Sell, with an average price target of $138.50 implying ~4.9% further upside.

Analysts expect Q1 FY2027 adjusted EPS of $0.65, up 6.6% from $0.61 in the year-ago quarter, on revenues of approximately $172.5–$174.6 billion. Walmart guided for Q1 net sales growth of 3.5–4.5%, operating income growth of 4.0–6.0%, and adjusted EPS of $0.63–$0.65. Morgan Stanley is particularly bullish, with a $140 price target suggesting 8% additional upside, and projects that U.S. comparable sales could grow as much as 4.5% — above the 3.9% analyst consensus. For full-year FY2027, EPS is projected at $2.89, up 9.5% from $2.64 in FY2026. Last year's Q1 FY2026 results saw revenue of $165.6 billion (up 2.5%), EPS of $0.61, and U.S. comp sales up 4.5%, though the report was complicated by CEO Doug McMillon warning that tariffs were already causing price increases.

Why it matters: Walmart is the most important single data point for U.S. consumer health. Its commentary on grocery price trends, tariff pass-through, e-commerce profitability (which achieved break-even globally in FY2026), and Walmart+ membership growth will serve as the definitive read on where the American consumer stands heading into summer.

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Deere & Company — Agricultural Cycle Bottom in Sight?

Reports: Thursday, May 21 | Pre-Market | Q2 FY2026

Deere & Company (DE) — operating globally as John Deere — is the world's foremost manufacturer of agricultural, construction, and forestry equipment, and an increasingly important precision agriculture technology company. The company reports Q2 FY2026 results (quarter ending April 30, 2026) before the market opens Thursday.

The consensus EPS estimate for Q2 FY2026 is approximately $5.70–$5.81, representing a year-over-year decline of roughly 12.6%. Revenue is expected at approximately $11.55 billion. Deere's fiscal year 2026 has been shaped by demand normalization across the agricultural equipment segment following the outsized sales surge of 2022–2023, driven by elevated crop prices and a post-pandemic investment wave. Lower corn and soybean prices have reduced farmers' discretionary spending on large equipment, while construction equipment demand has also softened alongside the slowing of U.S. non-residential construction. However, Deere's analysts note a potentially significant offset: the company's precision agriculture subscription software and connected services segment is projected to grow approximately 18% year-over-year, providing recurring revenue that is far less cyclical than equipment sales. Deere holds an Earnings ESP (Expected Surprise Prediction) of +6.24%, meeting the two-factor criteria that Zacks research correlates with a 70%+ probability of beating estimates.

Why it matters: Deere is a real-world proxy for global agricultural commodity markets and farm sector confidence. Its guidance for the second half of fiscal 2026 — particularly any signal that equipment order rates are stabilizing or recovering — will be scrutinized by investors in both industrial equipment and agriculture commodity markets. An upside surprise driven by software subscriptions would validate Deere's long-term pivot toward a precision agriculture technology company.

NetEase, Inc. — Gaming Powerhouse Eyes International Growth

Reports: Thursday, May 21 | Pre-Market | Q1 2026

NetEase, Inc. (NTES) is one of China's largest internet companies, with a dominant position in online gaming alongside music streaming (NetEase Cloud Music), education (Youdao), and digital advertising. The company reports Q1 2026 results on Thursday, May 21.

For Q1 2026, analysts project EPS of approximately $2.02–$2.19 on revenue of approximately $4.25 billion. This compares to Q4 2025, when NetEase reported EPS of $1.57, missing the consensus of $1.85 by a notable 15.1%. For full-year 2025, NetEase delivered net revenue of RMB 112.6 billion (~$16.1 billion), a 7% year-over-year increase, with games and value-added services growing 10% to generate RMB 92.1 billion and online games alone up 11% year-over-year. The company's global expansion thesis is central to its growth story: NetEase has been increasingly successful in bringing titles like "Naraka: Bladepoint" and "Once Human" to international audiences, reducing its dependence on China's domestic gaming market and licensing agreements.

Why it matters: NetEase's Q1 results will confirm whether the momentum in its domestic gaming pipeline and international expansion strategy can sustain the 7% top-line growth trajectory established in 2025. Commentary on upcoming game pipeline, advertising monetization of NetEase Cloud Music, and progress on Youdao's AI-powered education tools will be closely followed by investors tracking China's internet sector recovery.

Ross Stores, Inc. — The Value Retail Juggernaut

Reports: Thursday, May 21 | After Market Close | Q1 FY2026

Ross Stores, Inc. (ROST) operates the largest off-price apparel and home accessories chain in the United States under the Ross Dress for Less and dd's DISCOUNTS banners, making it TJX Companies' primary direct competitor. Ross reports Q1 FY2026 results after the market closes on Thursday, May 21.

Analysts project Q1 FY2026 EPS of $1.65–$1.67, representing a year-over-year increase of approximately 12.2% from the $1.47 per share reported in Q1 FY2025, on revenues of approximately $5.56–$5.60 billion. Ross has beaten consensus EPS in each of its last four quarters. For full-year FY2027 (ending January 2027), analysts project EPS of $7.32, a 10.7% increase from the $6.61 EPS of FY2026. Like TJX, Ross benefits from a flight to value among cost-conscious consumers and from abundant merchandise availability when department stores and branded manufacturers are managing excess inventory.

Why it matters: Reporting one day after TJX, Ross's results will provide a direct competitive comparison within off-price retail. Any commentary on comparable store sales trends, merchandise margins, and inventory availability will confirm — or challenge — the broadly held view that off-price retail is among the most resilient segments of consumer discretionary in the current macro environment.

Take-Two Interactive Software, Inc. — The GTA VI Countdown Begins

Reports: Thursday, May 21 | After Market Close | Q4 FY2026 and Full-Year FY2026

Take-Two Interactive Software, Inc. (TTWO) is one of the world's most celebrated video game publishers, home to Rockstar Games (Grand Theft Auto, Red Dead Redemption), 2K (NBA 2K, BioShock, Civilization), and Private Division. Its Q4 FY2026 report (quarter ended March 31, 2026) on Thursday evening also marks the full fiscal year closeout — and the formal launch of the GTA VI pre-launch narrative.

For Q4 FY2026, the consensus EPS ranges from approximately -$0.37 to $0.58, with MarketBeat showing a consensus of $0.58 and revenue expectations of approximately $1.55 billion. The range reflects meaningful uncertainty, particularly around the timing of bookings recognition. TTWO raised its full-year FY2026 net bookings outlook to $6.65–$6.70 billion, driven by beats across 2K and Rockstar's live-service titles. Rockstar Games confirmed that Grand Theft Auto VI will launch on November 19, 2026 — a date that has since become the single most important event on the global gaming calendar. CEO Strauss Zelnick stated that the company "expects to achieve record levels of net bookings in fiscal year 2027" driven by GTA VI. For FY2027, UBS forecasts net bookings of $9 billion, while Bank of America raised its target to $320 arguing GTA VI could reset pricing for premium titles across the industry. TD Cowen calls TTWO one of its best ideas for 2026 with a $284 target, and the 12-month consensus target sits at $277.

Why it matters: This earnings call will be less about the backward-looking FY2026 results and far more about Take-Two's forward guidance for GTA VI launch mechanics, pre-order uptake signaling, and the multi-year monetization roadmap including GTA Online's live-service future. A management reaffirmation of the November 2026 launch date and strong bookings guidance for FY2027 could drive material near-term upside in a stock that is already rallying on pre-order speculation.

Friday, May 22 — Membership Retail Wraps Up the Week

BJ's Wholesale Club Holdings, Inc. — Warehouse Club Resilience

Reports: Friday, May 22 | Pre-Market | Q1 FY2026

BJ's Wholesale Club Holdings, Inc. (BJ) is the third-largest membership warehouse club operator in the United States, competing directly with Costco and Walmart's Sam's Club primarily in the Eastern U.S. It reports Q1 FY2026 results (quarter ending May 3, 2026) before the market opens on Friday, May 22.

Analysts project Q1 FY2026 EPS of approximately $0.93–$1.03, up roughly 12% year-over-year, on revenue of approximately $5.19 billion, representing a ~5.4% year-over-year increase. In Q4 FY2025 (ending January 2026), BJ's reported adjusted EPS of $0.96, beating the analyst consensus of $0.92 by $0.04, though the revenue result missed estimates and the company issued full-year FY2026 guidance with adjusted EPS of $4.40–$4.60 — midpoint $4.50 — below the analyst consensus of $4.66. The full-year consensus now stands near $3.96 per share following estimate revisions. Despite the tempered guidance, BJ's membership model provides exceptional earnings visibility and a naturally defensive revenue base — membership fee income is recurring, and warehouse club shoppers are value-conscious households who skew toward bulk staples purchasing during inflationary periods.

Why it matters: BJ's results will cap off a packed week for the retail sector and offer a final barometer on warehouse-club consumer behavior as the group heads into the summer. Membership renewal rates, comparable sales trends (especially in food versus general merchandise), and any revision to full-year guidance will determine whether the stock can recover from the post-Q4 selloff and narrow the gap to Costco's premium valuation.

Earnings Calendar Summary: May 18–22, 2026

 

Note: POET Technologies reported Q1 2026 results on May 13–14, ahead of this earnings window.

This article is intended for informational purposes only and does not constitute investment advice. All EPS and revenue estimates represent analyst consensus at the time of publication and are subject to revision. Past performance is not indicative of future results.

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