Positive: Earnings for S&P 500 members in Q1 grew by 5.0% with steady improvement, especially in Tech.

From Nasdaq: 2024-05-02 07:08:00

Zacks Director of Research, Sheraz Mian reports a 5.0% earnings increase for the 310 S&P 500 members in Q1 with revenues up 4.5%. Positive earnings trend continues with steady improvement and resilience in various sectors, especially in Tech. Total S&P 500 earnings expected to grow by 8.6% this year, mostly driven by the Tech sector. Mar

With half of the 16 Zacks sectors showing higher aggregate earnings estimates, the earnings outlook for the ‘Magnificent 7′ stocks is evolving. The Energy sector is experiencing a favorable revisions trend, while Tesla and Apple are struggling with negative revisions. Nonetheless, other stocks are offsetting these effects, with Nvidia leading the positive revisions. This year’s earnings growth is expected to come from margin expansion, specifically in the Tech sector. May

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Read more at Nasdaq: Zacks Earnings Trends Highlights: Tesla, Apple and Nvidia