LIVE MARKETS-Q4 US earnings growth forecast improves, thanks to banks

ReutersJan 17, 2025 6:31 PM

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Q4 US EARNINGS GROWTH FORECAST IMPROVES, THANKS TO BANKS

The forecast for fourth-quarter 2024 earnings for S&P 500 companies has improved from a week ago, thanks largely to stronger-than-expected results from large U.S. banks.

S&P 500 earnings overall for the final quarter of 2024 are expected to have increased 10.7% year-over-year, per LSEG data Friday that is based on actual results from 42 companies and estimates for the rest. That's up from 9.5% growth forecast a week ago.

Results from JPMorgan Chase JPM.N had the biggest positive impact on the blended earnings growth rate compared to a week ago, followed by Goldman Sachs GS.N, Wells Fargo WFC.N and Morgan Stanley MS.N, according to Tajinder Dhillon, senior research analyst, analytics, at LSEG Data & Analytics.

Ninety-four percent of S&P 500 financial company reports have beaten analysts' expectations on earnings.

The fourth-quarter 2024 U.S. earnings season is still in its early stages, however.

Next week brings reports from 3M MMM.N, Travelers TRV.N and other big names.

(Caroline Valetkevitch)

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