FactSet: S&P 500 Q3 Earnings Growth at 29%, a Third Straight Quarter Above 25%
NEW YORK — The blended third-quarter earnings growth rate for the S&P 500 stood at 29.0% as of October 16, down slightly from 29.4% a week earlier, according to FactSet's latest Earnings Insight report. If the rate holds, it would mark the index's third straight quarter of earnings growth above 25%.
With 9% of S&P 500 companies having reported third-quarter results by October 16, 84% had posted earnings per share above the mean analyst estimate. In aggregate, however, reported earnings were only 2.6% above estimates, below the five-year average surprise of 7.5%. The blended revenue growth rate rose to 12.6%, from 12.4% a week earlier.
Cuts to health care earnings estimates drove the decline in the overall growth rate, partly offset by upward revisions in energy, FactSet said; energy revisions and health care revenue surprises also lifted the revenue growth rate. Estimates rose during the quarter itself: on June 30, the expected third-quarter growth rate was 26.7%.
About 70 S&P 500 companies report this week, including Tesla, Meta and Netflix, in the busiest stretch of the season. LSEG IBES data puts expected third-quarter earnings growth above 30%.
Published by GSM · USA (original Chinese edition)
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