US companies are poised for their most substantial year-over-year quarterly earnings increase since the second quarter of 2022, exceeding expectations with an estimated 6.3% rise, according to Reuters.
Data reveals an 81.3% beat rate in quarterly reports, the highest since 2Q 2021.
Despite analyst downgrades for 4Q S&P 500 estimates, Q3 earnings for technology and communication services sectors boast the highest beat rates at 90% and 89%, respectively.
This week, The Walt Disney Company (NYSE:DIS) was the big one. Shares of the entertainment giant were lifted after streaming services and theme parks boosted fourth-quarter earnings, despite softer ad sales in the TV business.
Here’s a look at Disney and some of the other earnings released this week: