The earnings season for the third quarter is currently underway, featuring reports from notable AI companies like Palantir (PLTR), AMD (AMD), and Supermicro (SMCI).
To date, the earnings season has started on a positive note. By October 31, 64% of S&P 500 companies had shared their results, according to FactSet data. Analysts predict a 10.7% increase in earnings per share during the third quarter, which would represent the fourth consecutive quarter of double-digit growth, though slightly down from the 12% growth seen in Q2.
Analysts had slightly tempered expectations for this quarter, forecasting a 7.9% rise in earnings per share for S&P 500 companies.
This week, companies benefiting from AI developments, such as Palantir, AMD, Supermicro, Constellation Energy (CEG), Qualcomm (QCOM), and Arm Holdings (ARM), are set to announce their quarterly results.
Additional significant earnings reports will come from companies like Shopify (SHOP), Uber (UBER), Pfizer (PFE), and multiple others including Toyota (TM), Airbnb (ABNB), and Snap (SNAP).
For ongoing updates from corporate America, stay tuned as earnings season continues.
