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Zacks Earnings Trends Highlights: Meta Platforms and Nvidia
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For Immediate Release
Chicago, IL – July 24, 2025 – Zacks Director of Research Sheraz Mian says, "The combination of a stabilizing macroeconomic backdrop and reassuring management commentary is helping to reverse the earlier negative revisions trend."
Q2 Earnings Results Show an Improving Growth Picture
Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
A positive picture is emerging from the Q2 earnings season, with an above-average proportion of companies beating consensus estimates. More importantly, the combination of a stabilizing macroeconomic backdrop and reassuring management commentary is helping to reverse the earlier negative revisions trend, with estimates for the second half of the year starting to increase again.
For the 117 S&P 500 companies that have already reported Q2 results, total earnings are up +8.3% from the same period last year on +5.3% higher revenues, with 87.2% beating EPS estimates and 80.3% beating revenue estimates.
The proportion of these 117 index members beating EPS and revenue estimates is tracking notably above the historical average for this group of companies. The Q2 EPS beats percentage of 87.2% for this group of index members compared to the 20-quarter average of 81.9% while the same on the revenues side is 80.3% vs. 70%.
For the Finance sector, we now have Q2 results from 53.3% of the sector’s market capitalization in the S&P 500 index. Total earnings for these Finance companies are up +17.3% from the same period last year on +5.5% higher revenues, with 91.2% beating EPS estimates and 79.4% beating revenue estimates.
An Emerging Positive Estimate Revisions Trend
Regular readers of our earnings commentary are familiar with a persistently negative revisions trend that has been in place since the start of the year, with the unfavorable trend accelerating at the beginning of Q2 with the Trump administration’s tariff announcements.
The revisions trend notably stabilized as we have gone through Q2 and has actually started turning positive in recent days.
Since the start of Q3 this month, estimates have modestly increased for half of the 16 Zacks sectors, including Finance, Tech, Energy, Consumer Discretionary, Autos, and others.
On the negative side, Q3 estimates are still under pressure for the other 8 Zacks sectors, with significant declines to estimates for the Medical, Basic Materials, Construction, Transportation, and other sectors.
For the Tech sector, Q3 earnings are expected to be up +6.8% from the same period last year on +9.7% higher revenues.
You can look at Q3 estimates for Tech players like Meta Platforms (META - Free Report) , Nvidia (NVDA - Free Report) and others.
Meta, which reports Q2 results on July 30th, is currently expected to bring in $5.92 per share in earnings in Q3. Estimates have been on a steady uptrend for Meta, with the current $5.92 EPS estimate up +1.2% over one week and +2.6% over the past month. Nvidia, which will be the last Mag 7 company to report Q2 results on August 27th, is expected to earn $1.60 per share in Q3, up +0.9% over the past week and +1.8% over the past month.
This positive revisions trend is even more notable for the big banks and brokers like JPMorgan, Citigroup, Goldman Sachs, and others in the Finance sector.
Earnings Expectations for 2025 Q2 & Beyond
The positive results from more than 23% of S&P 500 members have helped push the Q2 earnings growth expectation higher, with earnings for the S&P 500 index now expected to increase by +6.9% from the same period last year on +4.5% higher revenues.
We have been pleasantly surprised by the aforementioned favorable revisions trend, which validates the market’s rebound from the April lows. Given the positive run of Q2 results, it will make sense for this trend to remain in place over the coming weeks as we go through this reporting cycle.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Earnings Trends Highlights: Meta Platforms and Nvidia
For Immediate Release
Chicago, IL – July 24, 2025 – Zacks Director of Research Sheraz Mian says, "The combination of a stabilizing macroeconomic backdrop and reassuring management commentary is helping to reverse the earlier negative revisions trend."
Q2 Earnings Results Show an Improving Growth Picture
Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
A positive picture is emerging from the Q2 earnings season, with an above-average proportion of companies beating consensus estimates. More importantly, the combination of a stabilizing macroeconomic backdrop and reassuring management commentary is helping to reverse the earlier negative revisions trend, with estimates for the second half of the year starting to increase again.
For the 117 S&P 500 companies that have already reported Q2 results, total earnings are up +8.3% from the same period last year on +5.3% higher revenues, with 87.2% beating EPS estimates and 80.3% beating revenue estimates.
The proportion of these 117 index members beating EPS and revenue estimates is tracking notably above the historical average for this group of companies. The Q2 EPS beats percentage of 87.2% for this group of index members compared to the 20-quarter average of 81.9% while the same on the revenues side is 80.3% vs. 70%.
For the Finance sector, we now have Q2 results from 53.3% of the sector’s market capitalization in the S&P 500 index. Total earnings for these Finance companies are up +17.3% from the same period last year on +5.5% higher revenues, with 91.2% beating EPS estimates and 79.4% beating revenue estimates.
An Emerging Positive Estimate Revisions Trend
Regular readers of our earnings commentary are familiar with a persistently negative revisions trend that has been in place since the start of the year, with the unfavorable trend accelerating at the beginning of Q2 with the Trump administration’s tariff announcements.
The revisions trend notably stabilized as we have gone through Q2 and has actually started turning positive in recent days.
Since the start of Q3 this month, estimates have modestly increased for half of the 16 Zacks sectors, including Finance, Tech, Energy, Consumer Discretionary, Autos, and others.
On the negative side, Q3 estimates are still under pressure for the other 8 Zacks sectors, with significant declines to estimates for the Medical, Basic Materials, Construction, Transportation, and other sectors.
For the Tech sector, Q3 earnings are expected to be up +6.8% from the same period last year on +9.7% higher revenues.
You can look at Q3 estimates for Tech players like Meta Platforms (META - Free Report) , Nvidia (NVDA - Free Report) and others.
Meta, which reports Q2 results on July 30th, is currently expected to bring in $5.92 per share in earnings in Q3. Estimates have been on a steady uptrend for Meta, with the current $5.92 EPS estimate up +1.2% over one week and +2.6% over the past month. Nvidia, which will be the last Mag 7 company to report Q2 results on August 27th, is expected to earn $1.60 per share in Q3, up +0.9% over the past week and +1.8% over the past month.
This positive revisions trend is even more notable for the big banks and brokers like JPMorgan, Citigroup, Goldman Sachs, and others in the Finance sector.
Earnings Expectations for 2025 Q2 & Beyond
The positive results from more than 23% of S&P 500 members have helped push the Q2 earnings growth expectation higher, with earnings for the S&P 500 index now expected to increase by +6.9% from the same period last year on +4.5% higher revenues.
We have been pleasantly surprised by the aforementioned favorable revisions trend, which validates the market’s rebound from the April lows. Given the positive run of Q2 results, it will make sense for this trend to remain in place over the coming weeks as we go through this reporting cycle.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.