Q1 Earnings Season Wrap-Up
With 95% of S&P 500 companies reporting, the first quarter saw a 27.7% year-over-year growth in profits, as 84% exceeded earnings estimates, according to FactSet. Key performers include Alphabet, which achieved a 19% revenue growth, Meta Platforms with $56.3 billion in revenue, and Nvidia, whose $81.6 billion revenue represents an astonishing 85% increase year-over-year.
Bank of America reported a decline in its provision for credit losses to $1.35 billion, despite a 9% increase in its loan portfolio, while Walmart’s revenue grew 5.9%, though it faces rising fuel costs impacting profits. Nvidia’s significant revenue growth suggests a robust demand for AI technology, with the company forecasting a further 95% growth in the upcoming quarter.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
