While S&P 500 Hits Record High, Profits Keep Falling: Chart
As the U.S. earnings season starts, analyst estimates show that profits are set to fall for a fifth consecutive quarter, the longest earnings recession since the global financial crisis of 2007-2009. The bulk of the damage will come from energy and banking, as well as from Apple Inc., Jonathan Golub, chief equity strategist at Royal Bank of Canada, wrote in a note on July 12. Apple, the S&P 500 index’s biggest stock, is seen posting a 25 percent drop in earnings per share when it reports on
What to Expect This Earnings Season
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As the U.S. earnings season starts, analyst estimates show that profits are set to fall for a fifth consecutive quarter, the longest earnings recession since the global financial crisis of 2007-2009. The bulk of the damage will come from energy and banking, as well as from Apple Inc., Jonathan Golub, chief equity strategist at Royal Bank of Canada, wrote in a note on July 12. Apple, the S&P 500 index’s biggest stock, is seen posting a 25 percent drop in earnings per share when it reports on July 26, according to Bloomberg data.