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The NYSE on Thursday, March 12, 2020. Photo by Bloomberg
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The Information’s Tech Earnings Cheat Sheet

Photo: The NYSE on Thursday, March 12, 2020. Photo by Bloomberg

The first detailed indication of how the pandemic has affected the tech and media industry so far will come next week, as companies start reporting quarterly results. The picture will be mixed: Apple’s revenue is expected to fall, while analysts expect revenue growth at Facebook and Alphabet to slow somewhat but still reach 18% and 14%, respectively. 

That’s a reflection of when the pandemic began affecting their businesses. While supply disruptions in China affected Apple early in the quarter, the impact of lockdown orders in the U.S. didn't hit until midway through March, triggering a sharp economic slump. For the two ad-driven tech giants, the second quarter will show the full impact. Twitter, though, is expected to show a drop in revenue in its first quarter results, a sign that the ad downturn is hitting it particularly badly.

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