NEW YORK -Stock investors have been satisfied by middling U.S. corporate results so far this year but they might not be so easy to please for the rest of 2023.results are presenting a mixed picture, with companies beating analysts' profit expectations at the highest rate in nearly two years even as revenue beats dropped to the lowest since early 2020.
Overall, second-quarter earnings are expected to have fallen 3.8% from a year earlier, Refinitiv IBES data showed. That decline follows a 0.1% rise in the first quarter and a 3.2% drop in the fourth quarter of last year. This year's valuation expansion accounted for 86% of the S&P 500's year-to-date return through July, with the rest of the market's boost coming from positive changes to earnings estimates, an analysis by Credit Suisse equity strategists showed.
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Wall St Week Ahead Sluggish US earnings may need pick-me-up to support 2023 stock rallyStock investors have been satisfied by middling U.S. corporate results so far this year but they might not be so easy to please for the rest of 2023.
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