S&P 500 Earnings Surge 50.4%, Double Forecasts
With 88% of companies reporting, S&P 500 Q1 earnings have grown 50.4% year-over-year, more than doubling the already high 23.1% estimate.
The current corporate earnings season is far outpacing forecasts. According to The Kobeissi Letter, 88% of S&P 500 firms have reported, and the index has posted a 50.4% year-over-year earnings increase, more than double the already elevated consensus of 23.1% growth.
This marks the second straight quarter above 25% and the seventh consecutive quarter of double-digit growth. The last time earnings momentum was this robust was in Q2 2021, when the U.S. economy was rebounding from pandemic lockdowns and had received over $4 trillion in fiscal stimulus.
The strong results are being seen as part of what some call the biggest technological revolution in U.S. history.
Source: The Kobeissi Letter