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Nvidia’s latest earnings report delivered a blow to markets—though there are some bullish signs in the S&P 500’s numbers, according to a new analysis.
As of Thursday, around 77% of the S&P 500 companies had beaten Wall Street’s earnings per share estimates, according to FactSet. in line with the five-year average.
The term “tariffs” was mentioned in earnings calls by 221 of the S&P 500 companies, FactSet said.
Nvidia’s (NVDA) latest earnings report delivered a blow to markets—though there are some bullish signs in the S&P 500’s numbers, according to a new analysis.
As of Thursday, the S&P 500 reported growth in earnings of almost 18%—the highest since the fourth quarter of 2021, according to FactSet. According to the data provider, 77% of the companies had beaten Wall Street’s earnings per share (EPS) estimates, in line with the five-year average.
Financial institutions were the best performing sector in the benchmark, chalking up 55% growth in earnings during this season, FactSet said in an infographic published Thursday.
Still, tariffs, the key subject weighing on markets apart from Nvidia’s failure to surpass an already high earnings bar, were a big corporate issue. The term “tariffs” was mentioned in earnings calls at least once by the 221 companies that reported between December 15 through February 21, FactSet said.
U.S. President Donald Trump said Thursday that tariffs on Mexico and Canada would go into effect on March 4, and that additional tariffs would be imposed on China. Economists have expressed concern that steep new tariffs could push up prices on consumer products, reigniting inflation while weighing on economic growth.
And another downbeat conclusion from its research: FactSet found 72 companies issued negative EPS guidance, exceeding the five-year average of 56.
Nvidia shares are extending their declines from Thursday, as the company’s better-than-estimated results failed to impress investors’ high bar for the AI darling. Several consumer focused companies’ reports are due next week, among them Costco Wholesale (COST), Best Buy (BBY) and Target (TGT).
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