NEW YORK: 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 and Alphabet reporting upbeat results this week, according to Refinitiv data Wednesday.
Analysts now expect first-quarter earnings to have fallen 3.2 per cent year-over-year for S&P 500 companies. They had forecast a 5.1 per cent 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.
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