May 1 (Reuters) – Analysts’ expectations for S&P 500 earnings improved sharply after a week dominated by megacap results, LSEG IBES data showed on Friday, even as oil prices stayed high and tensions with Iran remained unresolved. S&P 500 profits are expected to grow 27.8% in the first quarter, the strongest since the fourth quarter […]
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S&P 500 profit eyes sharpest quarterly growth in four years after Big Tech results
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May 1 (Reuters) – Analysts’ expectations for S&P 500 earnings improved sharply after a week dominated by megacap results, LSEG IBES data showed on Friday, even as oil prices stayed high and tensions with Iran remained unresolved.
S&P 500 profits are expected to grow 27.8% in the first quarter, the strongest since the fourth quarter of 2021. That is higher than last Friday’s forecast of a 16.1% rise and a 14.4% increase projected a month ago, according to LSEG IBES data.
Apple reported its strongest quarterly sales growth in more than four years on Thursday, following results from Alphabet, Meta, Amazon.com and Microsoft on Wednesday, capping the busiest week of the reporting season.
(Reporting by Medha Singh in Bengaluru; Editing by Shilpi Majumdar)