NEW YORK, April 14 (Reuters) – With quarterly U.S. earnings just getting under way Friday with upbeat results from JPMorgan Chase & Co (JPM.N) and other banks, estimates for the first quarter have improved slightly from a week ago, according to Refinitiv data released Friday.
Including actual results for 30 of the S&P 500 companies and estimates for the rest, analysts now expect earnings in aggregate to have declined 4.8% in the first quarter of 2023 from the year-ago period. That compares with their week-ago forecast for a 5.2% decline in the quarter.
S&P 500 earnings fell 3.2% year-over-year in the fourth quarter of 2022, based on Refinitiv data.
Reporting by Caroline Valetkevitch
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