From NASDAQ.: 2024-06-12 19:50:00

The setup for the Q2 earnings season shows continued resilience and an improving outlook. S&P 500 earnings are expected to grow by 8.6% with revenues up by 4.6%. Energy sector estimates have seen positive revisions, along with Transportation, Tech, Autos, and Utilities sectors. Earnings growth for the Energy sector is set to turn positive in Q2.

Tech sector estimates for Q2 have increased, contributing to positive overall earnings outlook. Tech sector margins are expected to exceed last year’s levels, with strong earnings growth forecasted for both 2024 and beyond. Major Tech stocks like Meta Platforms and Nvidia Corp. are experiencing positive estimate revisions.

2024 Q2 quarter marks the fourth consecutive quarter of robust Tech sector earnings growth, with a projected increase of 15.1%. Full-year 2024 expectations show Tech sector earnings up by 17.1%, with continued strength anticipated for the next year. Tech sector margins are predicted to continue growing due to higher-margin software and services.

The overall earnings picture for 2024 shows revenue weakness in the Finance sector, but overall earnings growth remains positive. Margins are expected to increase for 11 out of 16 Zacks sectors in 2024, with Tech, Basic Materials, Medical, and Consumer Discretionary sectors showing significant gains.

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Read more at NASDAQ.:: What Will the Q2 Earnings Season Show?