From Nasdaq:

Total S&P 500 earnings for Q1 2024 are expected to increase by 2.2% with 3.5% higher revenues compared to the same period last year. Tech sector remains a major growth driver, contributing to positive earnings growth in Q1. Half of Zacks sectors are expected to see positive earnings growth in Q1.

Eight Zacks sectors, including Energy and Autos, are expected to have lower earnings in Q1 compared to the previous year. The Tech sector is expected to see significant earnings growth of 18.5% in Q1. Overall, estimates for Q1 earnings have been revised, with some sectors experiencing positive revisions while others face downward revisions.

The Tech sector is projected to continue as a growth driver in the upcoming quarters. Earnings are expected to rise by 2.2% in Q1, with revenue growth of 3.5%. Notable improvements are seen in the Tech sector’s earnings outlook. The positive earnings outlook for the Tech sector is expected to drive stock market momentum.

Oracle’s strong Q1 results indicate a positive start for the Tech sector. Adobe is likely to follow suit. Without the Tech sector’s growth, the rest of the S&P 500 index would have negative earnings. Overall earnings picture for the S&P 500 on an annual basis is presented, with revenue growth expectation of 2.9%.

Margins expansion is cited as a key driver for earnings growth in 2024, with margins expected to return to 2021 levels. Favorable pricing and innovation in the Tech sector are anticipated to support this margin outlook. The article concludes with a mention of a chemical company with significant growth potential.

The article also mentions positive analysis reports available for Oracle Corporation and Adobe Inc. The Tech sector is expected to resume growth and remain as a core sector for earnings in the upcoming quarters. For more information, you can access the full report on Zacks.com.



Read more at Nasdaq:: Tech Sector Resumes Growth Mode