Q2 earnings expected to increase with positive impact from Tech sector

From Nasdaq Inc.: 2024-06-28 15:17:00

Nike (NKE) and Walgreens Boot Alliance (WBA) released quarterly results for their fiscal quarters ending in May. The Q2 earnings season is approaching, with expectations of an 8.3% increase in S&P 500 earnings. The Tech sector is expected to have a positive impact on overall earnings growth, with margins showing improvement in various sectors.

Despite positive revisions in earnings estimates, some sectors like Industrial Products, Consumer Staples, and Construction have seen declines. Margins are expected to improve in 9 out of 16 sectors, with Tech, Medical, and Finance leading the gains. The overall picture for 2024 shows a 9% increase in S&P 500 earnings on a +1.7% revenue growth.

18 S&P 500 members, including Nike and Walgreens, have reported Q2 earnings, with 83.3% beating EPS estimates. Total earnings are up +25.8% from the same period last year, with 4.4% higher revenues. The Tech sector’s impact is significant, with a 15.5% increase in earnings and 9.5% higher revenues, driving a 119-basis point expansion in net margins.



Read more at Nasdaq Inc.:: Q2 Earnings Growth Forecasted to Hit Two-Year High