JPMorgan-US Equity Strategy 4Q23 Earnings Update-106597234

JPMORGANGlobalMarketsStrategy20February2024USEquityStrategy4Q23EarningsUpdateBeats/Misses.With78%ofS&P500companieshavingreported,73%arebeatingEquityMacroStrategy4Qearnings(vs.71%avg.last4Qs,seeFigure)and63%arebeatingrevenueestimates(vs.64%).NotablestandoutsintermsofearningsbeatssofarthisquarterDubravkoLakos-BujasACincludeStaples,HealthcareandIndustrials:(1-212)622-3601•Staples.With66%ofStaplescompanieshavingreported,84%arebeating4Qdubravko.lakos-bujas@jpmorgan.comearnings(vs.75%avg.last4Qs)and44%arebeatingrevenueestimates(vs.KamalTamboli62%).(1-212)622-5794•Technology.With73%ofTechnologycompanieshavingreported,83%arekamal.r.tamboli@jpmorgan.combeating4Qearnings(vs.88%avg.last4Qs)and70%arebeatingrevenueBhupinderSinghestimates(vs.75%).(1-212)622-9812•Industrials.With88%ofIndustrialscompanieshavingreported,78%arebhupinder.singh@jpmorgan.combeating4Qearnings(vs.77%avg.last4Qs)and71%arebeatingrevenueNarendraSinghestimates(vs.68%).(1-212)622-0087Surprise/Growth.S&P500companiessofarhavesurprisedonnetincomebynarendra.x.singh@jpmorgan.com5.3%(vs.2.9%last4Qs,ex-Financialsat6.4%).Earningssurprise(%contribution)waslargelydrivenbyTechnology(23%),Discretionary(21%)andArunJainIndustrials(18%).Forcompaniesthathavereported,4Qrevenuegrowthis3.5%y/yandnetincomegrowthis6.1%(vs.6.4%ex-Financials).(1-212)622-9454arun.p.jain@jpm...