S&P 500 Earnings Surge in Q2 2025
S&P 500 earnings surged in Q2 2025, with nearly 81% of companies topping estimates. Overall profits rose close to 12% year-over-year, powered by Technology, Communications, and Financials, while Energy and commodity-linked sectors lagged.
Q2 2025 S&P 500 Sector Earnings Scorecard
| Sector | EPS Growth (YoY) | Notes / Drivers |
|---|---|---|
| Communication Services | +48% | META, GOOGL ad strength; streaming gains |
| Technology | +22% | AI/data center demand; “Great 8” +27.2% |
| Financials | +12% | Trading, banking, resilient credit |
| Consumer Discretionary | Positive | Travel, hospitality, select retail strong |
| Industrials (Aerospace) | Positive | Defense + aircraft demand |
| Real Estate | +1.2% | Flat performance |
| Utilities | –1.9% | Higher costs, weak demand |
| Materials | –0.6% | Commodity price headwinds |
| Energy | –19% | Lower oil/gas price realizations |
Q3 2025 Earnings Outlook (FactSet consensus)
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Technology: Projected +10–11% EPS growth, led by AI adoption, data centers, and cloud services.
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Financials: Expected to post mid-single-digit growth, with stability in trading and credit.
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Communication Services: Estimates remain strong, with double-digit growth expected on digital ads and streaming.
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Energy & Materials: Still pressured, though easier YoY comparisons in late 2025 may reduce declines.
Full Index View
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Q3 2025 S&P 500 EPS Growth: ~+10.8% YoY (FactSet blended estimate).
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Full-Year 2025 EPS Growth: Projected +11.5%, the strongest annual expansion since 2021.
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Revenue Growth (FY 2025): Expected around +5%, led by Technology, Communication Services, and Consumer Discretionary.