Reported 29 days ago
Wall Street has reduced its earnings expectations for the third quarter by 2.8%, but analysts suggest this is not alarming. Historically, earnings estimates are often lowered as the quarter progresses, with an average revision of 3% over the past 20 years. This trend may actually set a lower bar for companies, potentially leading to positive surprises during the earnings reporting season. As earnings growth slows from 11.3% to a projected 4.9%, analysts believe the market is shifting towards 'earnings resilience,' indicating a healthy outlook for stocks going into 2025.
Source: YAHOO