Q3 earnings season shows strong growth with majority beating estimates, positive.

From Nasdaq: 2024-11-06 19:09:00

Total Q3 earnings for 399 S&P 500 members show a 6.9% increase with 73.9% beating EPS estimates. Earnings growth expected to accelerate with double-digit growth projected in three of the next four quarters. The Magnificent 7 companies are on track to bring in $126.2 billion in earnings in Q3, a 30.5% year-over-year growth.

Nvidia, part of the Magnificent 7 group, is expected to report +81.9% earnings growth in Q3 with +81.1% higher revenues. The market’s issues with some Mag 7 stocks don’t overshadow their sustainable profitability growth. The Mag 7 companies are expected to account for 23.1% of all S&P 500 earnings in Q3.

For Q3, S&P 500 earnings are expected to be up +6.7% from last year with +5.4% higher revenues. Q3 earnings growth would be +9.1% without the Energy sector drag. For 2024 Q4, total S&P 500 earnings are expected to be up +8.1% with +4.9% higher revenues, excluding the Energy sector drag.

A new top semiconductor stock, 1/9,000th the size of Nvidia, is poised for growth. With strong earnings and an expanding customer base, it’s positioned to meet the demand for AI, ML, and IoT. Global semiconductor manufacturing is projected to grow from $452 billion in 2021 to $803 billion by 2028.



Read more at Nasdaq:: Breaking Down the Q3 Earnings Season Scorecard