Goldman Sachs Americas Technology: Internet — 2Q26 EPS Review and Communacopia + Technology Conference Preview: Where to Next? … San Francisco (Of Course)
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Goldman Sachs' Americas Technology team reviews second-quarter 2026 EPS results across its internet coverage and previews the forthcoming Communacopia + Technology Conference in San Francisco, organizing the discussion around the question of where the sector goes next. The note's exhibits support that discussion with demand and engagement indicators. These include relative strength readings for internet services and for digital advertising; indexed US time spent, based at January 2023 = 100; a net purchase intent reading for video streaming services; indexed global weekly active users, based at the week of December 26, 2022 = 100; indexed global session counts, based at January 2023 = 100; and a decomposition of NPP drivers for the entertainment category. Together these charts are positioned to inform the debate over user engagement trends, advertising momentum, streaming demand and entertainment spending drivers as the conference season begins. Detailed findings, supporting analysis, ratings and price targets are contained in the full published report.
Key exhibits
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4
Exhibit 5
Exhibit 6
