Commentary
According to FactSet, 67% of S&P 500 companies have reported their fourth-quarter earnings so far, with 75% reporting positive earnings surprises and 65% reporting positive sales or revenue surprises. The blended earnings increase over the comparable 2022 quarter is +2.9%, almost twice the expected growth rate (+1.5%) analysts had expected on December 31, so I’d say this earnings season is worth celebrating.
