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Earnings season lifts S&P 500 expectations, FactSet sees 47.5% growth
FactSet estimates S&P 500 earnings growth will average 47.5% year over year in Q2, above the five-year and 10-year averages.
Yahoo Finance says the latest wave of results is supporting a strong earnings backdrop for the S&P 500, even as some post-earnings pullbacks show up in individual names.
The outlet points to Datadog, AMD, Sandisk, and Western Digital as examples of stocks that have fallen after big runs earlier this year, suggesting some profit-taking despite robust results and raised guidance.
Yahoo Finance cites FactSet data, with analysts estimating year over year S&P 500 earnings growth of 47.5% for the second quarter, well above the five-year average of 16.4% and the 10-year average of 10.3%.
The piece adds that, if the forecast holds, it would mark the second consecutive quarter with earnings growth above 20% for the index, and the seventh straight quarter of double digit growth.
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