Refinitiv data show smaller decline in US earnings view
Business
Refinitiv data show smaller decline in US earnings view
NEW YORK (Reuters) - The estimated decline in first-quarter S&P 500 company earnings is smaller than analysts had expected at the start of the month, with a host of big names including Microsoft Corp (MSFT.O) and Alphabet (GOOGL.O) reporting upbeat results this week, according to Refinitiv data Wednesday.
Analysts now expect first-quarter earnings to have fallen 3.2% year-over-year for S&P 500 (.SPX) companies. They had forecast a 5.1% decline in earnings for the quarter at the start of April.
The latest forecast is based on results from 163 of the S&P 500 companies as of Wednesday morning and estimates for the rest of the components.
