{"id":35785,"date":"2023-05-05T17:54:43","date_gmt":"2023-05-05T17:54:43","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/refinitiv-data-shows-further\/"},"modified":"2023-05-05T18:17:50","modified_gmt":"2023-05-05T18:17:50","slug":"further-improvement-seen-in","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/further-improvement-seen-in\/","title":{"rendered":"Further improvement seen in weak Q1 U.S. earnings forecast -Refinitiv data"},"content":{"rendered":"<p>By Caroline Valetkevitch<\/p>\n<p>NEW YORK (Reuters) -The estimated decline in first-quarter S&amp;P 500 earnings has improved from last week and is now at just 0.7% year-over-year, Refinitiv data showed on Friday, thanks to another round of upbeat results from companies including Apple Inc..<\/p>\n<p>The first-quarter reporting period is in the final stretch, with results now in from 419 of the S&amp;P 500 companies. The latest forecast is based on actual results as of Friday and estimates for the remaining components.<\/p>\n<p>About 77% of reports are beating analysts&#8217; earnings expectations. Also, in aggregate, companies are reporting earnings 7.2% above expectations, the highest &#8220;surprise rate&#8221; since the third quarter of 2021, according to Refinitiv.<\/p>\n<p>The 0.7% projected decline compares with an estimated fall for the first quarter of 1.9% a week ago and a drop of 5.1% at the start of April.<\/p>\n<p>Despite the improved forecast, the first quarter still would mark a second straight quarterly fall for U.S. corporate earnings, or an &#8220;earnings recession,&#8221; which last occurred when COVID-19 hit corporate results in 2020.<\/p>\n<p>S&amp;P 500 earnings fell 3.2% in the fourth quarter of 2022 from the year-ago period.<\/p>\n<p>Upbeat results have helped the stock market in recent weeks as well, with Apple shares jumping 4.8% on Friday. Apple late Thursday reported stronger-than-expected results and iPhone sales. <\/p>\n<p>Among companies still to report this earnings season are many top U.S. retailers including Walmart Inc..<\/p>\n<p> (Reporting by Caroline Valetkevitch; Editing by Leslie Adler)<\/p>\n<p><a href=\"https:\/\/lynettelockhart.com\/client\/refinitiv-data-shows-further\/traders-work-on-the-floor-of-the-nyse-in-new-77\/\"><img decoding=\"async\" src=\"https:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ440J3-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ440J3-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Caroline Valetkevitch NEW YORK (Reuters) -The estimated decline in first-quarter S&amp;P 500 earnings has improved from last week and is now at just 0.7% year-over-year, Refinitiv data showed on Friday, thanks to another round of upbeat results from companies including Apple Inc.. The first-quarter reporting period is in the final stretch, with results now [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":35786,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-35785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ440J3-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=35785"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35785\/revisions"}],"predecessor-version":[{"id":36088,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35785\/revisions\/36088"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/35786"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=35785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=35785"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=35785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}