EARNINGS & CATALYSTS · November 4, 2026
November 4, 2026 earnings preview: phone demand, advertising growth and insurance claims in focus
Ahead of November 4 after-close earnings, watch Qualcomm’s phone outlook, AppLovin’s advertising growth, McKesson’s expansion plans and insurers’ claims costs. Motorola Solutions and Edwards add security and medical-device demand tests.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| QUALCOMM Incorporated (QCOM) | November 4, 2026Issuer confirmed | After close | 2.16 | 10.12B |
| McKesson Corporation (MCK) | November 4, 2026Issuer confirmed | After close | 10.72 | 109.9B |
| AppLovin Corporation (APP) | November 4, 2026Issuer confirmed | After close | 4.03 | 2.07B |
| Motorola Solutions, Inc. (MSI) | November 4, 2026Issuer confirmed | After close | 4.42 | 3.25B |
| The Allstate Corporation (ALL) | November 4, 2026Issuer confirmed | After close | 6.89 | 15.87B |
| MetLife, Inc. (MET) | November 4, 2026Issuer confirmed | After close | 2.77 | 19.86B |
| Aflac Incorporated (AFL) | November 4, 2026Issuer confirmed | After close | 1.80 | 4.12B |
| Edwards Lifesciences Corporation (EW) | November 4, 2026Issuer confirmed | After close | 0.74 | 1.68B |
1) What is scheduled after close on November 4?
Qualcomm, McKesson, AppLovin, Motorola Solutions, Allstate, MetLife, Aflac and Edwards Lifesciences have announced earnings releases for after close on November 4, 2026. Qualcomm reports its fiscal fourth quarter of 2026 and McKesson its fiscal second quarter of 2027; the other six report their third quarter of 2026. Allstate, MetLife and Aflac plan management calls for November 5, so further explanations will follow the written results.
2) The revenue expectations to keep in view
MarketBeat revenue consensus checked before open on November 4, 2026, in U.S. dollars: Qualcomm: $10.12 billion. McKesson: $109.90 billion. AppLovin: $2.07 billion. Motorola Solutions: $3.25 billion. Allstate: $15.84 billion. MetLife: $19.86 billion. Aflac: $4.12 billion. Edwards Lifesciences: $1.68 billion. These are analyst sales expectations, not company results or promises. A sales beat is more useful when it comes with healthy margins, cash flow and a stronger outlook.
3) Qualcomm: can growth outside phones support the outlook?
Qualcomm sells chips and licenses wireless technology. The investor test is whether demand across phones and other connected devices supports the next revenue and profit outlook. Skyworks reported on November 3 and forecast a low-teens sequential decline in smartphone revenue, citing seasonality and Android weakness. Its newly combined business has a different product and customer mix from Qualcomm, but it highlights the need to examine phone demand separately from other growth markets. Watch product mix and licensing income alongside total sales.
4) AppLovin: does advertiser growth translate into cash?
AppLovin helps advertisers reach customers and helps publishers earn money from their audiences. Watch advertising growth, the cost of delivering it and how much profit becomes cash. Continued advertiser spending matters more than an isolated quarterly beat. Alphabet’s October 28 report showed Google advertising revenue of $82.01 billion, compared with $74.18 billion a year earlier. That is a useful sign of broader advertising demand, but AppLovin serves different customers and formats. Its own outlook will show whether it is capturing that spending.
5) McKesson: specialty care and the cost of expansion
McKesson distributes medicines and provides healthcare services. Large sales volumes do not automatically mean large profit margins, so operating profit and cash conversion deserve attention alongside revenue. On October 6, McKesson and CD&R signed an agreement to acquire Option Care Health. McKesson plans to invest about $1.4 billion for a minority stake of roughly 49%, with closing expected in the first half of 2027 subject to approvals and other conditions. Watch funding needs and the expected contribution from specialty care; the transaction is agreed, not completed.
6) Motorola Solutions: can security demand become profitable revenue?
Motorola Solutions supplies communications and safety technology. Watch whether orders turn into delivered products and recurring software or service income, and whether the next outlook supports margins. Project timing and customer budgets can move revenue between quarters. In adjacent security markets, Allegion reported on October 22 that sales rose 9.6% and adjusted operating margin reached 24.7%. Its strength in Americas non-residential markets offers context for security spending, though door hardware and public-safety communications have different buying cycles.
7) Allstate: are insurance prices keeping up with claims?
Allstate sells auto, home and other protection. Focus on claims costs, catastrophe losses and underwriting profit—the money left from premiums after claims and operating expenses. Higher premium revenue is less valuable if losses rise faster. Travelers reported an 86.8% combined ratio on October 16. A ratio below 100% means an underwriting profit. It also reported $234 million of favorable changes to prior-year claims reserves, so investors should distinguish current insurance performance from revisions to older claims estimates. Allstate has its own customer and risk mix.
8) MetLife and Aflac: separate investment income from insurance performance
MetLife offers insurance, employee benefits and retirement products; Aflac sells supplemental health and life insurance in the United States and Japan. Watch policy sales, benefits paid to customers and investment income together. For Aflac, currency changes can also affect the dollar value of Japanese earnings. Prudential’s November 3 results showed after-tax adjusted operating income per share of $3.77, down from $4.05 a year earlier. It cited lower Japan earnings linked to a sales suspension at Prudential of Japan, partly offset by stronger areas elsewhere. That issue is specific to Prudential; the useful comparison is how each insurer’s business mix affects earnings.
9) Edwards: what follows the recent heart-valve evidence?
Edwards makes technologies for structural heart disease. Its November 2 announcement reported positive clinical and quality-of-life findings for the PASCAL tricuspid repair system. For investors, the next questions are commercial adoption, sales growth and the cost of expanding treatment access; trial progress does not immediately become quarterly revenue. Stryker’s October 29 results showed 7.7% organic sales growth, yet management said performance fell short of its expectations. Organic growth removes acquisitions and currency effects. Stryker is a broader medical-device company, but the report illustrates why positive procedure demand can coexist with a disappointing outlook.
10) How to read the releases
Start with the next outlook, then compare sales, margins and cash flow with expectations. For insurers, examine claims and investment results; for healthcare businesses, focus on volumes and the cost of growth. A stock can fall after beating one forecast if the next outlook disappoints. After-close trading can be volatile, so avoid treating the first price move as a settled verdict.