The third quarter earnings season is winding down, and only a handful of major companies have yet to report results.
So far, the Q3 earnings season has shown largely solid results. As of Nov. 21, 95% of S&P 500 companies have reported, according to FactSet data, and analysts are expecting a 13.4% jump in earnings per share during the third quarter. If that figure holds, it would mark the fourth straight quarter of double-digit earnings growth and an acceleration from the 12% earnings growth rate reported in Q2 of this year.
Expectations were much lower coming into the quarter, as analysts expected S&P 500 companies to report a 7.9% jump in earnings per share in Q3, as of Sept. 30.
Retailers, such as Macy’s (M), Dollar Tree (DLTR), American Eagle Outfitters (AEO), and GameStop (GME), report this week, providing further insight into how softening consumer sentiment is impacting purchasing decisions as the holiday shopping season ramps up.
Other reports from Salesforce (CRM), CrowdStrike (CRWD), MongoDB (MDB), Marvell (MRVL), Okta (OKTA), C3.ai (AI), and Snowflake (SNOW) also highlight the first week of earnings in December.
