Over 70% of S&P 500 companies that reported earnings this week beat estimates-Earnings Scorecard

Man looking at currency trading app on his smart phone from his home office — Alistair Berg

Wall Street opened with a subdued start on Friday, as investors closely monitored the growing geopolitical tensions between Russia and Ukraine. The benchmark S&P 500 closed at one-week highs on Thursday after shares of artificial intelligence behemoth, Nvidia (NASDAQ:NVDA) escaped negative territory, after the company reported its results.

The three main indexes were on track to end the week higher, with bitcoin (BTC-USD) surging past another milestone toward $100,000. Nine of 11 sectors on the S&P 500 rose on Thursday, while sectors such as the Consumer Discretionary, and Communication Services fell, with Alphabet weighing on the latter.

Google’s parent fell as the U.S. Justice Department (DOJ) sought the sale of Google’s Chrome web browser as it aims to end the company’s monopoly on online searches.

Despite Alphabet (GOOGL)’s weakness, Wall Street had a tremendous week with a sustained strong sentiment regarding the positive implications of Trump’s tax policies for corporates. To add to the market optimism, this week’s earnings scorecard was majorly green, with 11 out of 14 companies beating both revenue and EPS estimates, while only two companies missed estimates on both the fronts.

Among the five S&P 500 Consumer sector companies that reported earnings this week, three of them beat both revenue and EPS expectations. Retail giant Walmart (NYSE:WMT) topped third quarter estimates on both the fronts and raised its guidance.

The Bentonville-based company said the majority of its customers are maintaining their holiday plans year over year amidst the election, the calendar shift, and the economic backdrop. Meanwhile, Target (NYSE:TGT), another big name in the sector, was punished by investors after the company posted a disappointing Q3 profit tally and guided below expectations for the holiday quarter.

From the three Industrial sector companies that reported earnings this week, Deere & Company (NYSE:DE) and Copart (NASDAQ:CPRT) beat estimates for both EPS and revenue, while Jacobs Solution (NYSE:J) missed estimates on both the fronts. Jacobs reported adjusted fourth quarter EPS of $1.37, with a revenue of $2.96B, missing Wall Street estimates by $50M.

The Information Technology sector had a great showing this week with all the companies of the sector which reported earnings this week, beating estimates on both the fronts. Shares of companies like NetApp (NASDAQ:NTAP) rose more than 7%, after its fiscal second quarter results beat estimates.

While, shares of AI-behemoth, Nvidia (NVDA) fell roughly 0.5% in extended hours trading on Wednesday, even as the semiconductor giant reported fiscal third-quarter results and guidance that topped expectations.

Looking to the fourth-quarter of fiscal 2025, Nvidia expects to generate $37.5B in revenue, plus or minus 2%. Analysts were forecasting $37.1B in revenue for the Jensen Huang-led company.

For the upcoming week, seven S&P 500 companies are scheduled to report earnings, with Agilent Technologies (NYSE:A) set to report on Monday, and companies like Best Buy (NYSE:BBY), CrowdStrike (NASDAQ:CRWD), and Dell (NYSE:DELL) reporting on Tuesday.