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2w ago

S&P 500 EPS Growth Tops 10% in Q2 as Firms Ramp Up Buybacks and Guidance

Companies step up stock buybacks to signal confidence despite tariff-driven costs squeezing industrial profits.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020
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Overview

  • 66% of S&P 500 companies have reported Q2 results with aggregate EPS on track for 10.3% growth and 82% beating analysts’ forecasts.
  • Palantir recorded over $1 billion in quarterly revenue for the first time, and Microsoft and Meta both beat second-quarter estimates, underscoring AI-driven gains.
  • Consumer-driven firms led outlook upgrades as Shopify grew revenue by 31% and raised its Q3 forecast, Disney lifted its profit guidance, and McDonald’s returned to sales growth.
  • Uber topped earnings with $0.63 per share and announced a $20 billion stock buyback, fueling a broader surge in repurchase programs.
  • Industrial players like Caterpillar and Honda cited up to $1.5 billion in tariff-related costs next year, and Novo Nordisk narrowly missed EPS and revenue estimates.