JPMorgan-US Equity Strategy 4Q23 Earnings Update-106706708

JPMORGANGlobalMarketsStrategy26February2024USEquityStrategy4Q23EarningsUpdateBeats/Misses.With88%ofS&P500companieshavingreported,71%arebeatingEquityMacroStrategy4Qearnings(in-linevs.avg.last4Qs,seeFigure1)and63%arebeatingrevenueDubravkoLakos-BujasACSalesndErigco(but,m-p):(1-212)622-3601estimates(vs.64%).Notablestandoutsintermsofearningsbeatssofarthisquarterdubravko.lakos-bujas@jpmorgan.comincludeStaples,TechnologyandHealthcare:KamalTamboli•Staples.With71%ofStaplescompanieshavingreported,85%arebeating4Q(1-212)622-5794earnings(vs.75%avg.last4Qs)and44%arebeatingrevenueestimates(vs.kamal.r.tamboli@jpmorgan.com62%).BhupinderSingh•Technology.With84%ofTechnologycompanieshavingreported,85%are(1-212)622-9812beating4Qearnings(vs.88%avg.last4Qs)and72%arebeatingrevenuebhupinder.singh@jpmorgan.comestimates(vs.75%).NarendraSingh•Healthcare.With91%ofHealthcarecompanieshavingreported,77%are(1-212)622-0087beating4Qearnings(vs.79%avg.last4Qs)and86%arebeatingrevenuenarendra.x.singh@jpmorgan.comestimates(vs.73%).ArunJainSurprise/Growth.S&P500companiessofarhavesurprisedonnetincomeby5.3%(vs.2.9%last4Qs,ex-Financialsat6.3%).Forcompaniesthathavereported,(1-212)622-94544Qrevenuegrowthis3.8%y/yandnetincomegrowthis7.9%(vs.8.6%ex-arun.p.jain@jpmorgan.comFinancials).Earningssurprise(%contribution)waslargelydrivenbyTechnologyJ.P.Morgan...