Zacks Reports S&P 500 Q2 Earnings Surge 58.1% on Strong Tech and Finance Results

Earnings
โดย Zacks Investment Research·Read original
Summary · why it matters

Zacks Investment Research reports that for the 216 S&P 500 companies that have reported second-quarter results, representing 43.2% of the index's total membership, total earnings are up 58.1% from the same period last year on 12.2% higher revenues. The earnings and revenue growth rates were boosted by Micron's blockbuster quarterly results and Alphabet's unrealized gain on its SpaceX stake, but excluding those two companies, Q2 earnings for the remaining 214 index members would still be up 17.8% on 9.8% higher revenues. The Finance sector has also delivered notably better performance, with total earnings for reporting companies up 25.1% on 16.2% higher revenues. Positive revisions are extending into the third quarter, with estimates rising across eight of the 16 Zacks sectors since early July, led by Energy, Basic Materials, Tech, and Finance, while Consumer Staples, Consumer Discretionary, and Autos have seen cuts. The pressure on Consumer Staples reflects exhausted pricing power, as evidenced by Procter & Gamble's recent earnings miss and conservative outlook, along with similar weakness from Conagra Brands and PepsiCo.

Impact on stocks 5

Consumer Staples▼ · 3 stocks
Procter & Gamble Company
PG
▼ NegativePricingrelevance

Procter & Gamble's earnings miss and conservative outlook cited as evidence of exhausted pricing power.

Conagra Brands, Inc.
CAG
▼ NegativePricingrelevance

Article mentions Conagra Brands as showing weakness, reflecting exhausted pricing power in Consumer Staples.

PepsiCo Inc
PEP
▼ NegativePricingrelevance

PepsiCo mentioned as showing similar weakness to P&G, reflecting exhausted pricing power.

Semiconductors▲ · 1 stocks
Micron Technology Inc
MU
▲ PositiveCapitalrelevance

Micron's blockbuster quarterly results significantly boosted Q2 earnings growth.

Artificial Intelligence▲ · 1 stocks
Alphabet Inc Class C
GOOG
▲ PositiveCapitalrelevance

Alphabet's unrealized gain on SpaceX stake boosted overall earnings growth rate.

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