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In the upcoming week, seven S&P 500 members, including Costco (COST) and Accenture (ACN), are set to report their quarterly results. This follows recent quarterly results from several companies, including homebuilder Lennar and restaurant operator Darden, for their fiscal periods ending in August. Q3 earnings for the S&P 500 are anticipated to increase by +5.1% year-over-year, with revenues projected to rise by +6%.
Costco is expected to report earnings of $5.81 per share on revenues of $86.14 billion, marking year-over-year changes of +12.8% and +8.1%, respectively. Meanwhile, Accenture is projected to earn $2.98 per share on $17.3 billion in revenues, which represents year-over-year increases of +6.8% and +5.6%. The Q3 earnings growth rate of +5.1% would be the lowest for the S&P 500 since +4.4% in Q3 2023.
Positive revisions have occurred for the Tech and Finance sectors, which account for over 50% of the index’s total earnings, although 11 of the 16 Zacks sectors have faced pressure. Notably, the Tech sector expects total earnings growth of +11.8%, helping to drive the overall index growth.
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