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This could be an earnings season for the record books – CNBC


Investors came into this earnings season with high hopes as FactSet had forecast year-over-year profits to grow by 20 percent in the second quarter. So far, second-quarter earnings have increased by 24 percent through Friday.

At this rate, quarterly earnings are on pace to post their second-highest year-over-year growth since the third quarter of 2010, when they grew by 34.1 percent, Butters said. “It will also mark the third straight quarter in which the index has reported double-digit, earnings growth. All eleven sectors are reporting year-over-year growth in earnings. Ten sectors are reporting double digit earnings growth, led by the Energy, Materials, and Information Technology sectors,” he said.

For the remainder of the year, earnings are forecast to grow at a year-over-year rate of about 20 percent, but Butters said “more moderate growth for early 2019” is expected. Earnings are projected to grow by 7.3 percent in the first quarter of 2019 and by 8.2 percent in the second quarter of next year.



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