Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 1, 2024.
Here's how big of a surprise corporate profits have been this earnings season: the fourth-quarter is now shaping up to be the best of 2023.
Despite ongoing macroeconomic concerns that have hampered demand and weighed on consumer sentiment, almost halfway into earnings season, profits are clearly coming in far better than anybody expected.
Helping companies' bottom lines this round: easing input costs; more emphasis on cost controls and efficiencies; and significantly reduced expectations.
LSEG, formerly Refinitiv, is now seeing a nearly 8% rise in earnings growth this season.
Organizations:
New York Stock Exchange, Apple, Chevron, Exxon Mobil, Merck, Bristol, Myers Squibb, Energy, Tech
Locations:
New York City, U.S