Q1 2023 Earnings Season Begins!
Q1 Earnings Season Is in Full Swing!
Everyone loves a good plot twist, and this year’s Q1 has delivered in this regard! With April nearing its end, 2023’s Q1 earnings season is well underway, providing financial analysts with a far more positive picture than anticipated.
Even though strategists have predicted this earnings season to be the bleakest since the pandemic, the season’s first week provided the best upside surprise since 2012, as 90% of the S&P500 companies that reported results so far outperformed earnings per share expectations. Similarly, although the collapse of Silicon Valley Bank triggered fears of an industry crisis, strong results by banking giants have helped avert this.
Nevertheless, this season’s S&P 500 earnings as a whole are expected to be down from 2022’s Q1, with some economists expecting estimates to decline in coming quarters. Overall, this earning season has still provided analysts with clearer skies than expected.
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To stay on top of which companies are reporting and when visit our earnings calendar below.
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