Record Earnings Expected from S&P 500 Companies in Q1 2026
Chicago, IL – May 7, 2026 – The Magnificent 7 group of companies, including Alphabet, Amazon, Microsoft, and Meta, is projected to account for 27% of all S&P 500 earnings power this year. In Q1 2026, total earnings for 392 S&P 500 companies that have reported are up 21.7% from the same period last year, with 80.1% beating EPS estimates. Overall, Q1 earnings are anticipated to reach $690.4 billion, surpassing the previous quarterly record of $655.5 billion.
The Tech sector is a key contributor, with expected earnings growth of 50.1%. Excluding Tech, the rest of the S&P 500 is expected to grow earnings by 11.1%. The Magnificent 7 members anticipate a 45.7% increase in earnings on 24.6% higher revenues. Notably, these seven firms reported capital expenditures of $125 billion in Q1 2026, accounting for over 2% of U.S. GDP.
Nvidia, the only Magnificent 7 member yet to report, is set to release its numbers on May 20, with expectations of earnings and revenues increasing by 118.5% and 78.7%, respectively, compared to last year.
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