NEW YORK - U.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness.year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to LSEG data on Friday. That is up from 4.3% the day before.
Some 90% of reports from the heavily-weighted communication services are surpassing Wall Street earnings estimates and 88% of reports from the technology sector are beating.But results overall this earnings season have not been all positive, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
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