Tech Firms Report Strong Q1 2026 Earnings

Several major companies released their first-quarter 2026 earnings, highlighting growth in technology sectors and challenges in energy amid geopolitical tensions. Moderna reported a stock jump following a Q1 2026 earnings beat, driven by strong international COVID vaccine sales, though offset by a wider loss from a $0.9 billion litigation charge.

Alphabet's cloud computing business recorded 63% revenue growth year-over-year, reaching $20 billion.

Apple posted earnings per share of $2.01, surpassing estimates of $1.93, with revenue of $111.1 billion against expectations of $108.9 billion. Amazon's cloud computing segment expanded 28% year-over-year, topping analysts' estimates. An unspecified company reported net income of $142.6 million, up from $47.2 million the previous year, with total revenue rising to $1.4 billion from $1.09 billion.

Chevron announced Q1 2026 total revenue and other income of $48.61 billion, below estimates of $52.08 billion, but adjusted earnings per share of $1.41 exceeded expectations of $0.95. The company recorded a net loss of $360 million related to a legal reserve and noted net oil-equivalent production of 3,858 thousand barrels of oil equivalent per day.

Chevron declared a dividend of $1.78 per share and stated that operations in the Partitioned Zone are at near minimum rates to manage storage. The conflict in the Middle East had limited impact on Chevron's production in the quarter, affecting less than 5% of its portfolio, and the company continues to monitor developments.

Chevron affirmed its 2030 targets, including over 10% growth in adjusted free cash flow and earnings per share, and a 3% improvement in return on capital employed, all at $70 Brent. The company is on track to deliver $3 billion to $4 billion in structural cost reductions by year-end, with 2026 guidance unchanged.

Chevron expects Venezuela to continue representing 1-2% of cash flow from operations as it remains in debt recovery mode.