For 2025 Q3, S&P 500 index earnings are expected to rise by 5.1% from last year with a 5.9% increase in revenues. Positive revisions trend seen in Q3 estimates for sectors like Tech, Finance, and Energy. However, estimates have decreased for sectors like Medical, Transportation, and Basic Materials.

Q3 earnings expectations raised for 5 of 16 Zacks sectors, including Tech and Energy. However, estimates lowered for sectors like Medical and Transportation. Tech sector expected to see a 12% increase in earnings and a 12.4% rise in revenues compared to last year.

Microsoft’s Q3 EPS estimate increased to $3.65 per share with $75.37 billion in revenues, up 10.6% and 14.9% respectively from last year. Nvidia’s Q3 EPS estimate also rose. Overall, Q3 earnings growth expected to be 5.1% with a 5.9% revenue gain for the S&P 500 index.

The positive revisions trend in Q3 earnings validates the market rebound from April lows. Market will be watching if the trend continues as Q3 reporting cycle starts. Oracle’s strong backlog numbers suggest the trend could continue, especially in tech, but the impact on non-tech sectors remains to be seen.

Read more at Nasdaq: Previewing Q3 Earnings Expectations: Good or Bad?