The third quarter earnings season is in full swing, with several AI players reporting results this week, including Palantir (PLTR), AMD (AMD), and Supermicro (SMCI).
So far, the earnings season is off to a positive start. As of Oct. 31, 64% of S&P 500 companies have reported results, according to FactSet data, and analysts are expecting a 10.7% jump in earnings per share during the third quarter. If that figure holds, it would mark the fourth straight quarter of double-digit earnings growth but a deceleration from the 12% earnings growth reported in Q2 of this year.
Expectations were slightly lower coming into the quarter, as analysts expected S&P 500 companies to report a 7.9% jump in earnings per share during the third quarter.
This week, AI beneficiaries such as Palantir, AMD, Supermicro, Constellation Energy (CEG), Qualcomm (QCOM), and Arm Holdings (ARM) will provide quarterly updates.
Other notable results will come from Shopify (SHOP), Uber (UBER), Pfizer (PFE), Spotify (SPOT), Marriott International (MAR), Toyota (TM), Novo Nordisk (NVO), McDonald’s (MCD), AppLovin (APP), Robinhood (HOOD), DoorDash (DASH), Snap (SNAP), AstraZeneca (AZN), ConocoPhillips (COP), Airbnb (ABNB), Warner Bros. Discovery (WBD), Block (XYZ), Duke Energy (DUK), and Wendy’s (WEN).
Here are the latest updates from corporate America.
LIVE 134 updates
Berkshire Hathaway’s profits rise 17% as Warren Buffett prepares to step down as CEO
Berkshire Hathaway (BRK-B, BRK-A) stock rose more than 1% on Monday trading following the release of its third quarter earnings over the weekend. The profits of Warren Buffett ‘s company improved 17% thanks to a relatively mild hurricane season and more paper investment gains this year as Berkshire Hathaway (BRK-B, BRK-A) prepares for the legendary 95-year-old investor to relinquish the CEO title in January.
The AP reports:
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