S&P 500 companies beat earnings estimates as quarterly growth accelerates
Updated
Updated · The Motley Fool · May 7
S&P 500 companies beat earnings estimates as quarterly growth accelerates
7 articles · Updated · The Motley Fool · May 7
About two-thirds have reported, with 84% topping EPS forecasts and year-on-year earnings growth running at 27%, according to FactSet.
If maintained, the beat rate would be the highest since the second quarter of 2021, while earnings growth would be the strongest since late 2021.
Alphabet, Amazon, Meta and Nvidia led gains, helped by one-off boosts including investment gains, unrealised equity gains and a tax benefit, reinforcing megacap tech's role in the market rally.
Are tech giants' record profits masking a risky dependence on one-time financial windfalls and tax breaks?
As tech giants pour $670 billion into AI, are they fueling a productivity boom or an unsustainable bubble?