We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alphabet, Micron, Nike and Nvidia are part of Zacks Earnings Preview
Read MoreHide Full Article
For Immediate Release
Chicago, IL – October 5, 2026 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Nvidia (NVDA - Free Report) , Micron (MU - Free Report) , Alphabet (GOOGL - Free Report) and Nike (NKE - Free Report)
Soft Labor Data Meets Solid Earnings: The Bullish Setup for the Market
The market’s positive reaction to Friday’s soft labor market readings is solely through the Fed prism, as it reduces the odds of another rate hike at the central bank’s meeting in late October. A moderating macroeconomic backdrop would typically be expected to have negative implications for corporate profitability as well. But market participants are justifiably sanguine on that count given how strong the corporate earnings picture continues to be.
The overall setup remains extremely favorable as the Q3 earnings season takes center stage when the big banks start reporting on October 13th. S&P 500 earnings are expected to increase by +24.6% from the same period last year, the 8th straight quarter of double-digit earnings growth for the index.
The Tech sector remains a major growth contributor, but momentum is broad-based, with 15 of the 16 Zacks sectors on track for positive earnings growth in Q3. Importantly, the revisions trend remains positive and broad-based, highlighting a steadily improving outlook.
As noted earlier, the revisions trend has been positive, sustaining the favorable trend in place for almost a year.
This positive revisions behavior is not a new development; they extend a tailwind that has been building for nearly a year. The positive revisions were at first concentrated in Technology and, more recently, Energy following Middle East supply disruptions. However, for Q3 2026, the constructive estimate revisions have broadened significantly, rising across 8 of the 16 Zacks sectors—including Transportation, Finance, Aerospace, Industrials, Utilities, and Autos alongside Tech and Energy.
On the negative side, Q3 estimates have been under pressure for these 8 sectors since the quarter got underway – Conglomerates, Basic Materials, Consumer Staples, Consumer Discretionary, Medical, Business Services, Retail, and Construction.
It is important to note that estimates for 2026 Q4 and full-year 2027 have also been trending higher lately, as we show below.
For 2026 Q4, the expectation is that S&P 500 earnings will grow by +27% from the same period last year on +11.8% higher revenues, with estimates for the period steadily moving higher in recent weeks.
Sector Focus: Broad-Based Strength
Q3 earnings are expected to be above the year-earlier level for 15 of the 16 Zacks sectors, with 6 sectors expected to enjoy double-digit growth. The multi-industry Conglomerates sector is the only one expected to have lower earnings in Q3 relative to the same period last year (earnings decline of–31.3%).
The 6 sectors expected to enjoy double-digit earnings growth in Q3 are Aerospace (up +159.7%), Energy (+114.3%), Tech (+43.3%), Basic Materials (+29.5%), Transportation (+14.4%) and Industrial Products (+13.2%).
Q3 earnings growth for the S&P 500 index drops to +20.5% from +24.6% once the Energy sector’s contribution is excluded from the index. Excluding the Tech sector, Q3 earnings growth for the rest of the index drops to +14.6%.
Nvidia, Micron and Alphabet have been enjoying a record earnings run in recent quarters, and that performance continues in Q3 as well.
Nvidia’s Q3 earnings are expected to increase +90% year-over-year on +91.2% higher revenues, while Alphabet's earnings are expected to rise +2.8%, but the search giant posted an outsized earnings gain in the prior period. Micron's earnings increased +1075.7% from the year-earlier level in its recent release.
Q3 earnings growth for the Tech sector drops to +20.5% once contributions from Nvidia, Micron, and Alphabet are excluded.
Q3 Earnings Season Scorecard
The Q3 earnings season will get the spotlight when the big banks report on October 13th, but the reporting cycle has already begun, as recent results from Nike,Micron and others show.
The Nike, Micron, and other such reports were for these companies’ fiscal quarters ending in August, which get counted as part of the September-quarter tally. Including the Nike and Micron reports, we now have such Q3 results from 16 S&P 500 members. We have 3 additional index members on deck to report their fiscal August-quarter results this week, including Constellation Brands, Delta Air Lines, and Pepsi.
Total Q3 earnings for the 16 S&P 500 members that have reported results already are up +188.3% from the same period last year on +31.7% higher revenues, with 81.3% beating EPS estimates and 75% beating revenue estimates.
The very strong earnings and revenue growth pace for this group of 16 S&P 500 members is mostly due to Micron, whose Q3 earnings increased +1075.7% from the year-earlier level. Excluding the Micron contribution, Q3 earnings for the remaining 15 index members that have reported would be up +11.7%.
Free: Instant Access to Zacks' Market-Crushing Strategies
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 tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
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.
View the Zacks #1 Rank List
Image: Bigstock
Alphabet, Micron, Nike and Nvidia are part of Zacks Earnings Preview
For Immediate Release
Chicago, IL – October 5, 2026 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Nvidia (NVDA - Free Report) , Micron (MU - Free Report) , Alphabet (GOOGL - Free Report) and Nike (NKE - Free Report)
Soft Labor Data Meets Solid Earnings: The Bullish Setup for the Market
The market’s positive reaction to Friday’s soft labor market readings is solely through the Fed prism, as it reduces the odds of another rate hike at the central bank’s meeting in late October. A moderating macroeconomic backdrop would typically be expected to have negative implications for corporate profitability as well. But market participants are justifiably sanguine on that count given how strong the corporate earnings picture continues to be.
The overall setup remains extremely favorable as the Q3 earnings season takes center stage when the big banks start reporting on October 13th. S&P 500 earnings are expected to increase by +24.6% from the same period last year, the 8th straight quarter of double-digit earnings growth for the index.
The Tech sector remains a major growth contributor, but momentum is broad-based, with 15 of the 16 Zacks sectors on track for positive earnings growth in Q3. Importantly, the revisions trend remains positive and broad-based, highlighting a steadily improving outlook.
As noted earlier, the revisions trend has been positive, sustaining the favorable trend in place for almost a year.
This positive revisions behavior is not a new development; they extend a tailwind that has been building for nearly a year. The positive revisions were at first concentrated in Technology and, more recently, Energy following Middle East supply disruptions. However, for Q3 2026, the constructive estimate revisions have broadened significantly, rising across 8 of the 16 Zacks sectors—including Transportation, Finance, Aerospace, Industrials, Utilities, and Autos alongside Tech and Energy.
On the negative side, Q3 estimates have been under pressure for these 8 sectors since the quarter got underway – Conglomerates, Basic Materials, Consumer Staples, Consumer Discretionary, Medical, Business Services, Retail, and Construction.
It is important to note that estimates for 2026 Q4 and full-year 2027 have also been trending higher lately, as we show below.
For 2026 Q4, the expectation is that S&P 500 earnings will grow by +27% from the same period last year on +11.8% higher revenues, with estimates for the period steadily moving higher in recent weeks.
Sector Focus: Broad-Based Strength
Q3 earnings are expected to be above the year-earlier level for 15 of the 16 Zacks sectors, with 6 sectors expected to enjoy double-digit growth. The multi-industry Conglomerates sector is the only one expected to have lower earnings in Q3 relative to the same period last year (earnings decline of–31.3%).
The 6 sectors expected to enjoy double-digit earnings growth in Q3 are Aerospace (up +159.7%), Energy (+114.3%), Tech (+43.3%), Basic Materials (+29.5%), Transportation (+14.4%) and Industrial Products (+13.2%).
Q3 earnings growth for the S&P 500 index drops to +20.5% from +24.6% once the Energy sector’s contribution is excluded from the index. Excluding the Tech sector, Q3 earnings growth for the rest of the index drops to +14.6%.
Nvidia, Micron and Alphabet have been enjoying a record earnings run in recent quarters, and that performance continues in Q3 as well.
Nvidia’s Q3 earnings are expected to increase +90% year-over-year on +91.2% higher revenues, while Alphabet's earnings are expected to rise +2.8%, but the search giant posted an outsized earnings gain in the prior period. Micron's earnings increased +1075.7% from the year-earlier level in its recent release.
Q3 earnings growth for the Tech sector drops to +20.5% once contributions from Nvidia, Micron, and Alphabet are excluded.
Q3 Earnings Season Scorecard
The Q3 earnings season will get the spotlight when the big banks report on October 13th, but the reporting cycle has already begun, as recent results from Nike,Micron and others show.
The Nike, Micron, and other such reports were for these companies’ fiscal quarters ending in August, which get counted as part of the September-quarter tally. Including the Nike and Micron reports, we now have such Q3 results from 16 S&P 500 members. We have 3 additional index members on deck to report their fiscal August-quarter results this week, including Constellation Brands, Delta Air Lines, and Pepsi.
Total Q3 earnings for the 16 S&P 500 members that have reported results already are up +188.3% from the same period last year on +31.7% higher revenues, with 81.3% beating EPS estimates and 75% beating revenue estimates.
The very strong earnings and revenue growth pace for this group of 16 S&P 500 members is mostly due to Micron, whose Q3 earnings increased +1075.7% from the year-earlier level. Excluding the Micron contribution, Q3 earnings for the remaining 15 index members that have reported would be up +11.7%.
For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >>>> Q3 Earnings on Track for 8th Consecutive Quarter of Double-Digit Growth
Free: Instant Access to Zacks' Market-Crushing Strategies
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 tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
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.