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S&P 500 earnings season ramps up with key Big Tech results
FactSet estimates second-quarter S&P 500 earnings growth at 23.2% year over year, above recent multi-year averages.
Yahoo Finance reports that the current earnings cycle is picking up speed this week, with companies including SK Hynix, Visa, Coca-Cola, Boeing, and Ford scheduled to report on Tuesday.
The outlet notes that Big Tech results are expected to be the main market focus on Wednesday and Thursday, following last week’s results from Alphabet and Tesla that sent the tech sector into a pullback.
Beyond the near-term lineup, Yahoo Finance says the S&P 500 is on track for a strong earnings season, with FactSet projecting year-over-year earnings growth of 23.2% for the index in the second quarter.
According to the same FactSet figures cited by Yahoo Finance, that 23.2% estimate is above the five-year average of 16.4% and the 10-year average of 10.3%, and if realized it would represent the second straight quarter with earnings growth above 20% and the seventh consecutive quarter of double-digit growth.
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