NEW YORK, Nov 10 - U.S. companies are set for their biggest year-over-year gain in quarterly earnings since the second quarter of 2022 after a high percentage of S&P 500 companies beat Wall Street expectations.
To be sure, analysts have been cutting fourth-quarter S&P 500 estimates, with earnings for the current quarter now expected to be up just 5.8% from a year ago, compared with an expected gain of 11% at the start of the quarter, the data showed. Microsoft was among the big-name S&P 500 companies that produced above-expectation results, with its cloud-computing and PC businesses growing as customers anticipate using its artificial-intelligence offerings.
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