As of now, 386 S&P 500 companies have reported their Q2 earnings, making up 77.2% of the index. Total earnings for these companies increased by 41.7% year-over-year, supported by a 14.8% rise in revenues. Notably, 83.7% surpassed earnings-per-share (EPS) estimates, while 77.2% exceeded revenue estimates.
The technology sector has played a pivotal role in this growth, with a projected earnings increase of 93.6% in Q2 2026. Excluding tech gains from major contributors like Micron, Nvidia, and Alphabet, the overall Q2 earnings growth for the remaining S&P 500 companies would drop significantly to 17.7%.
Looking ahead, full-year 2026 earnings estimates have been raised for 10 of the 16 Zacks sectors since early March, particularly in Energy, Basic Materials, Tech, and Industrials. However, sectors such as Transportation and Consumer Discretionary are experiencing downward pressure on their estimates.
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