Apple, Amazon, Meta highlight tech-heavy earnings week

Google parent company Alphabet Inc.

GOOG -5.81%

And Facebook owns meta platforms Inc.

META -7.59%

It is expected that he will announce the earnings. Additional companies with quarterly updates on tap include Ford Motor Co.

F -1.38%

and General Motors Co.

GM -1.31%

Food and beverage players Coca-Cola Co.

IS 0.37%

and Hershey Co.

HSI 0.00%

And other big names in manufacturing and pharmaceuticals.

Investors want to see how companies fare in an increasingly volatile market environment, with supply chain issues, declining consumer spending, a strong dollar and rising inflation.

“We see inflation taking root in the economy,” said Goldman Sachs Group CEO David Solomon. Inc.,

GS -0.80%

He said earlier this week.

Inflation forecasts are mixed, he said. CEOs of other companies tell him about persistent inflation in the supply chain, Solomon said, but the bank’s economists are seeing signs that inflation will moderate. “The answer is uncertain, and we will all be watching closely,” he said.

After thriving during the pandemic, tech companies are facing their own challenges, with increased competition over their growth prospects and a changing landscape for ad spending.

Netflix Inc.

NFLX -1.54%

It reported its second straight quarter of subscriber losses for the first time in its history. Meanwhile, social media platforms Snap Inc.

SNAP -39.08%

And Twitter Inc.

Weak spending from advertisers pointed to revenue challenges.

“As many industries and verticals come under top-line or input-cost pressure, ad spending is one of the first areas affected,” said Derek Anderson, Snap’s chief financial officer.

So far, 20% of S&P 500 companies have posted earnings for the most recent quarter, according to FactSet. The results are mostly dismal, with the number of companies reporting positive earnings surprises and the size of those surprises trending below the five-year average. Overall earnings are on track to grow 4.8% this quarter, the slowest rate since late 2020, and current earnings are on track to grow 10.9%, FactSet said.

Amazon, which is scheduled to report second-quarter earnings on Thursday afternoon, is looking to return to profit after posting a first-quarter loss, its first in seven years, as online shopping slowed after the Covid-19 lockdown and the company struggled with rising costs. Investors will be interested to see how CEO Andy Jassy fares as he reverses some aggressive expansion under founder Jeff Bezos.

Apple, which is scheduled to report its third-quarter earnings on Thursday afternoon, is expected to report a 13% decline in profit to $18.81 billion, according to FactSet.

Analysts expect Microsoft to report a 5% increase in profit to $17.29 billion from a year earlier when it reports its fiscal fourth-quarter earnings on Tuesday afternoon, according to FactSet. In June, the company cut its forecast, citing the impact of foreign exchange rates as the strong US dollar would cause significant losses.

Both Alphabet and Meta are forecast to post smaller second-quarter profits compared with a year earlier when they report on Tuesday and Wednesday, according to FactSet.

Outside of technology, several companies offer clues about consumer health. McDonalds Co.

M.C.D 0.21%

The fast-food chain, which is expected to announce earnings Tuesday morning, will show whether the fast-food chain has been tougher than casual dining in the economic downturn.

Consumer-product companies reporting this week include Huggies maker Kimberly-Clark Corporation

KMB 1.42%

Gillette owner Procter & Gamble Co.

PG 1.60%

and toothpaste manufacturer Colgate-Palmolive Co.

C.L 1.72%

Investors will see how they handle higher costs and whether retailers and consumers are accepting them.

Chevron Corporation

CVX -0.83%

and Exxon Mobil Corporation

XOM -0.76%

, both are set to report earnings on Friday morning, as oil, gas and refined petroleum products are set to report higher profits as prices rise and demand outstrips supply. The two companies are expected to be the biggest contributors to earnings and revenue growth for S&P 500 companies, according to FactSet.

United Parcel Service Inc.

Oops 0.52%

and general electricity Co.

G.E 0.09%

On Tuesday morning they will give their results on visa Inc.

V -1.15%

and Chipotle Mexican Grill Inc.

CMG -1.51%

Afternoon.

Other popular ones to report include Spotify technology on

Spot -3.43%

Pfizer on Wednesday Inc.

PFE 0.22%

and Comcast Corporation

CMCA 0.78%

on Thursday, and AbbVie Inc.

ABBV 0.49%

on friday.

Write Connor Hart at connor.hart@wsj.com