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Zacks Earnings Trends Highlights: Alphabet, Micron and Nvidia

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For Immediate Release

Chicago, IL – August 27, 2026– Zacks Director of Research Sheraz Mian says, "The earnings growth pace is not only strong and accelerating but also broad-based and continuing to improve."

Q3 Earnings Outlook: Positive Revisions & Broad-Based Growth

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>>>

Here are the key points:

  • The overall earnings picture has been positive over the last two years, but it has not been this strong in quite some time. The earnings growth pace is not only strong and accelerating but also broad-based and continuing to improve. In other words, we are experiencing a very favorable earnings setup for the market.
  • For 2026 Q3, the expectation is that total S&P 500 earnings will increase +22.6% from the same period last year on +10.9% higher revenues, with 14 of the 16 Zacks expected to enjoy positive earnings growth and 5 sectors producing double-digit growth. This will be the most broad-based earnings growth performance in recent times.
  • The revisions trend remains positive, sustaining the favorable revisions trend that has been in place for a year now. Since the start of Q3 in July, earnings estimates have moved higher for half of the 16 Zacks sectors.
  • Alphabet (GOOGL - Free Report) , Micron (MU - Free Report) and Nvidia (NVDA - Free Report) continue to be material contributors to the Tech sector’s growth picture. Excluding these three companies, Q3 earnings for the rest of the Tech sector would be +18.9% (vs. +39.3% otherwise).

The Earnings Big Picture

The favorable revisions trend noted earlier in the context of Q3 estimates is also at play with estimates for the last quarter of the year, with mostly the same sectors enjoying positive revisions.

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