Earnings Expectations: Half Of The FANG Stocks On Deck

• Two of the FANG stocks are expected to post quarterly results this week.
• Analysts have forecast solid to strong results from Facebook and Amazon.
• Other Internet companies on deck this week include Alibaba and eBay.

The so-called FANG stocks (Facebook, Amazon, Netflix, Google) were the darlings of 2015, but will that continue to be the case? Netflix already reported mixed results for its most recent quarter, and this week Facebook Inc FB and Amazon.com, Inc. AMZN take their turns in the earnings spotlight. Wall Street analysts have high hopes for top and bottom line results from both Facebook and Amazon. As long as they don't prove over-enthusiastic (as with Netflix's top line), resulting in negative surprises here, then maybe January will end on a positive note, at least for some investors. Google, now known as Alphabet, is expected to report the following week, the beginning of February. Below is a quick look at what is expected from the reports of Amazon and Facebook. That is followed by a quick peek at some of the week's other most anticipated Internet and tech earnings.

Amazon

Wall Street's fourth-quarter forecast for Amazon calls for earnings per share (EPS) to have surged from $0.45 in the year-ago period to $1.63. The consensus of 224 Estimize respondents predicts the same result. Note that both Wall Street and Estimze underestimated EPS in the past two periods. Revenue narrowly topped consensus estimates in the previous period. This time, Estimize is looking for about $35.87 billion, which is less than the $35.98 billion Wall Street expects. Both estimates are more than 20 percent higher than year-ago revenue. Amazon is scheduled to report after Thursday's closing bell. See also: Apple And Microsoft Earnings: Is It Mac Versus PC All Over Again?

Facebook

When this social media giant shares its results late Wednesday, the consensus forecast of Estimze is that it will show a profit of $0.69 per share for the fourth quarter. That would be up from EPS of $0.54 in the same period of last year, as well as the $0.57 posted in the previous quarter. The company's revenue for the three months that ended in December will be $25.39 billion, or up more than 39 percent year over year, if the 254 survey respondents are correct. For the full year, Wall Street sees revenue up about 40 percent to $17.45 billion, as well as EPS up more than 18 percent to $2.17.

And Others

Other Internet giants Alibaba and eBay, and the latter's PayPal spin-off, are on deck this week as well. The consensus forecasts calls for a strong showing from Alibaba but reduced earnings from eBay. Other tech giants on the week's schedule include Apple and Microsoft. Here, Wall Street is looking for solid results from the former, but not so much from the latter. We take a closer look at what is expected from this pair in a separate post. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.