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New York - US stock index futures were higher on Thursday, with Nasdaq futures jumping more than 1% following a pair of blowout results from technology stalwarts Apple and Facebook.
Apple in particular will be in focus a day after the most valuable US company by market capitalisation posted revenue that far outpaced expectations, helped by strong iPhone sales.
The company also approved another $30bn stock buyback plan, raised its dividend and authorised a seven-for-one stock split, broadening the stock's appeal to individual investors. Shares rose 7.7% to $565 in heavy pre-market trading.
Social media giant Facebook posted a 72% jump in first-quarter revenue, lifted by its mobile advertising business. Shares rose 5% to $64.41 before the bell. Twitter rose 1.2% to $46.50.
Apple and Facebook were the latest high-profile names to top expectations, a trend that has lifted the S&P 500 for six of the past seven sessions, though companies have largely been beating reduced forecasts.
According to Thomson Reuters data, profits are seen rising 1.6% this quarter, down from the 6.5% growth rate estimated at the start of the year, according to Thomson Reuters data.
S&P 500 futures rose 7.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 50 points and Nasdaq 100 futures rose 52 points.
Among other notable earnings on Thursday, drugmaker Eli Lilly reported revenue that missed expectations, while insurer Aetna's earnings topped forecast.
Of the 141 companies in the S&P 500 that have posted results through on Wednesday morning, 65.2% have topped expectations, above the long-term average of 63%. On the revenue side, 53.6% have exceeded forecasts, below the 61% long-term average.
Tech will remain in view after the market closes, when Microsoft and Amazon.com are slated to post their results.
US shares of AstraZeneca rose 5.1% to $71.25 in pre-market trading as the company highlighted progress with new cancer drugs, though it also reported core earnings that missed expectations.
