Ameriprise sees Q3 S&P 500 EPS up 29.5%, leaving stocks little room for disappointment
AMP•Ameriprise said analysts forecast S&P 500 third-quarter earnings per share to rise 29.5% year over year, with revenue up 12.3%. It highlighted expected profit growth in Energy, Information Technology and Communication Services.
1. Earnings outlook
Ameriprise flagged third-quarter earnings season as a key test for year-end equities, with the S&P 500 near records and yields above 5%. Analysts forecast earnings per share to rise 29.5% year over year and revenue to grow 12.3%. Expected profit growth is concentrated in Energy at 114%, Information Technology at 65% and Communication Services at 51.5%. Ameriprise identified bank results, Big Tech’s AI monetization and Energy companies’ guidance after the oil rally as areas to watch, and said earnings follow-through is essential for further gains given a top-heavy market and mixed sector trends.
