tl;dr
While the Q1 2024 earnings season is still underway, profit growth for S&P 500 (SP500) companies is collectively on course to be the strongest in more than two years. UBS in tracking corporate financial reports found Q1 earnings were beating estimates by 8.3% in aggregate. That rate of earnings surp...
While the Q1 2024 earnings season is still underway, profit growth for S&P 500 (SP500) companies is collectively on course to be the strongest in more than two years. UBS in tracking corporate financial reports found Q1 earnings were beating estimates by 8.3% in aggregate. That rate of earnings surprises was the highest since Q3 2021 when it was 9.7%, according to Tuesday's research note. The latest surprise rate was driven by 72% of companies topping projections, with just about 17% of the S&P 500's roughly $44T market cap having reported. "EPS is on pace for 9.3%, assuming the historical beat rate of 4.8% for the rest of this season," Jonathan Golub, chief U.S. equity strategist at UBS, said in the research note Tuesday. Meta Platforms (META) -- one of the so-called Magnificent 7 group of Big Tech companies, late Wednesday became one of latest companies to turn in Q1 profit above Wall Street's targets. Ahead of the Facebook parent, S&P 500 (SP500) constituents AT&T (T), General Motors (GM), and Texas Instruments (TXN) posted Q1 earnings that surpassed expectations. Per-share earnings were expected to rise by 5.3% in Q1, UBS said. The Tech sector, which includes internet retail companies, looks set for a nearly 30% profit climb. The health care and energy and materials sectors, however, lagged all others, with the latter facing a roughly 25% earnings decline. Q1 revenue was expected to increase by 3.1%. The Q1 deluge of reports continues Thursday with Microsoft (MSFT) and Alphabet (GOOG).
More about Meta Platforms Inc.
Meta Platforms Inc. Summary Meta Platforms Inc.
Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, PCs, virtual reality headsets, wearables and home devices around the world. The company is headquartered in Menlo Park, California.
Industry
Technology, Services-Computer Programming, Data Processing, etc.
Key Financial Data
Market Cap: $1.258 trillion
Current Price: $33.34
Dividend Yield: 0%
52-week High: $52.41
52-week Low: $14.88
EPS: $0.29
Volume: 134,901,998
PE Ratio: 500.12
Beta: 2.002
Volatility: 0.247
More about General Motors Company
General Motors Company
General Motors Company (GM) is an American multinational corporation headquartered in Detroit, Michigan that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit's Renaissance Center.
Industry: MANUFACTURING
Sector: MOTOR VEHICLES & PASSENGER CAR BODIES
Market Cap: $51,457,294,000
Price/Earnings (P/E) Ratio: 6.16
EPS (Earnings Per Share): 0.27
Dividend Yield: 7.32
52-Week High: $134.13
52-Week Low: $0.0613
Shares Outstanding: 1,748,710,030,000
Current Price: $51.43
Price/Book (P/B) Ratio: 0.515
Price/Sales (P/S) Ratio: 0.076
More about Texas Instruments Incorporated
Company: Texas Instruments Incorporated
Business Sector: Manufacturing, Semiconductors & Related Devices
Market Cap: $150.63 billion
Current Price: $23.4
P/E Ratio: 5.02
EPS: 7.07
52-Week High: $19.29
Dividend Yield: 0.372%
Revenue: $17.519 billion
RSI: 171
MACD: -0.302
Bollinger Bands: -0.127
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company known for its computer software, consumer electronics, and related services. Its notable products include the Microsoft Windows operating systems, Microsoft Office suite, Internet Explorer, Edge web browsers, Xbox video game consoles, and the Microsoft Surface lineup of touchscreen personal computers.
In the 2020 Fortune 500 rankings, Microsoft ranked No. 21 among the largest United States corporations by total revenue. It was also the world's largest software maker by revenue in 2016 and is considered one of the Big Five companies in the U.S. information technology industry, alongside Google, Apple, Amazon, and Facebook.
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: 302.84 billion
Current Price: $36.88
Change: $2.86
Change %: 11.05%
52-Week Range: $30.61 - $433.88
PE Ratio: 0.363
Volume: 227,583,001
EPS: $0.332
Dividend: $0.176
More about Alphabet Inc Class C
Alphabet Inc Class C Summary Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Sector: TECHNOLOGY
Services: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap: $1,977,058,984,000
Price/Earnings Ratio: 27.52
Dividend Yield: None
Beta: 0.24
Shares Outstanding: 3,073,939,870
EPS: $155.08
PE Ratio: 0.56
Forward PE Ratio: 0.135
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