From Nasdaq: 2024-05-22 19:06:00

The Q1 earnings season showed a resilient profitability picture with +4.2% earnings growth and +3.9% higher revenues from 474 S&P 500 members. 77.8% beat EPS estimates, but Tech sector remains key for growth. Target struggled in retail earnings, lacking Walmart’s competitive advantage in grocery offerings. Earnings outlook for 2024 Q2 is positive, with S&P 500 expected to be up +9.0%.

The Energy sector boosts earnings strength, while favorable revisions trend outside Energy sector is evident. The Technology sector’s contribution is significant, with +16.1% earnings growth driving overall index growth. Record Tech sector margins and positive revisions trend point to a promising outlook. Expectations for Tech sector margin improvements and earnings growth remain strong. Target’s stock performance lags behind Walmart’s, impacting overall retail sector outlook.



Read more at Nasdaq:: Where is Earnings Growth Coming From?