Quick Earnings Recap: How It Started, How Its Going, Where Its Headed….

February 05, 2024 at 11:40 am - by Ashlee Vogenthaler

The U.S. fourth-quarter earnings season is underway, and concerns are rising about consumer credit issues. Some companies in the retail sector are facing challenges due to hesitant consumers dealing with inflation.

However, big tech companies like Meta Platforms (META), Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOG), and Apple (AAPL) have contributed to an overall increase in per-share profits for the S&P 500 index in the fourth quarter. The financial sector, especially banks, initially reported below-average performance, but the technology industry, driven by demand for AI, played a significant role in the overall rebound.

As earnings season progresses, various companies, including Tyson Foods (TSN), Palantir Technologies (PLTR), Spotify Technology (SPOT), Mattel (MAT), PayPal (PYPL), PepsiCo (PEP), Canopy Growth (CGC), Ford (F), Chipotle Mexican Grill (CMG), Snap (SNAP), and Uber Technologies (UBER), are set to report. McDonald’s (MCD) may address the impact of recent geopolitical events on its business, and Spirit Airlines (SAVE) will share insights on competition and financial stability. Walt Disney Co. (DIS) will report results, with particular attention on its streaming business, which is expected to turn a profit in the fourth quarter of this fiscal year.