Earnings for the fourth quarter haven't been as dire as some investors feared, but that doesn't mean they won't get worse later in the year.
Earnings for the fourth quarter haven't been as dire as some investors feared, but they are likely to continue to deteriorate. With 143 companies of the S & P 500 reporting, Refinitiv early Friday said the beat rate for earnings per share was 67.8%, slightly above the average 66% pace. Revenues have been beaten forecasts 65% of the time so far, compared to a 62% long-term average. But when it came to the size of the beat, companies this quarter appear to be lagging.
line intel "The earnings for big tech are really important because there's still a huge part of the S & P that's in growth and tech," said Keith Lerner, co-chief investment officer at Truist Advisory Services. "For this market to make headway, you need those stocks to participate." Outside of tech, other sectors are also seeing declines in earnings. Consumer discretionary earnings look to be down 15.6% and materials are down by 20.6%, according to Refinitiv.
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