Key insights
- S&P 500 earnings are projected to grow 27.8% in Q1, the highest since Q4 2021, driven by strong results from major technology companies. This significant upward revision from previous forecasts suggests a bullish outlook for US equities, potentially offsetting concerns about oil prices and geopolitical tensions.
May 1 (Reuters) - Analysts’ expectations for S&P 500 earnings improved sharply after a week dominated by megacap results, LSEG IBES data showed on Friday, even as oil prices stayed high and tensions with Iran remained unresolved.
S&P 500 profits are expected to grow 27.8% in the first quarter, the strongest since the fourth quarter of 2021. That is higher than last Friday’s forecast of a 16.1% rise and a 14.4% increase projected a month ago, according to LSEG IBES data.
Apple reported its strongest quarterly sales growth in more than four years on Thursday, following results from Alphabet, Meta, Amazon.com and Microsoft on Wednesday, capping the busiest week of the reporting season.