Investing.com: Surprisingly Upbeat Q3 Earnings Season Kicks Into High Gear This Week

Read the full article on Investing.com.

Excerpt:

  • S&P 500 EPS growth for Q3 is set to come in at 1.5%, a slight increase from last week, but still at the lowest level since Q3 2020 
  • The LERI improves to 85, doing an about face and perhaps suggesting companies are not as uncertain in the short-term
  • Peak earnings season begins this week with big tech results taking the stage: GOOGL, MSFT, META, AAPL, AMZN, INTC, TWTR

Q3 Earnings Surpassing Low Bar Thus Far

In true earnings season fashion, as more companies report for the quarter, the S&P 500 profit growth rate has steadily climbed due to the number of companies surpassing expectations. Upbeat results have been able to do 2 things thus far:

  1. Offset the downward revisions that analyst’s had been submitting for companies that have yet to report and
  2. Have subsequently prompted the Sell Side to do a 180 and increase some previously lowered estimates.

 

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