JPMorgan-US Equity Strategy 4Q23 Earnings Update-106445381

JPMORGANGlobalMarketsStrategy09February2024USEquityStrategy4Q23EarningsUpdateBeats/Misses.With65%ofS&P500companieshavingreported,73%arebeatingEquityMacroStrategy4Qnetincomeexpectations(vs.71%avg.last4Qs,seeFigure1)and64%areDubravkoLakos-BujasACSalesndErigco(but,m-p):(1-212)622-3601beatingrevenueestimates(vs.64%).AmongMag7stocks,with6outof7havingdubravko.lakos-bujas@jpmorgan.comreported,83%arebeatingon4Qnetincomeexpectations(vs.75%)and83%arebeatingrevenueestimates(vs.79%).FortheS&P500,notablesectorsforearningsKamalTambolibeatssofarthisquarterincludeHealthcare,StaplesandIndustrials:(1-212)622-5794•Healthcare.With69%ofHealthcarecompanieshavingreported,81%arekamal.r.tamboli@jpmorgan.combeating4Qearnings(vs.79%avg.last4Qs)and89%arebeatingrevenueBhupinderSinghestimates(vs.73%).(1-212)622-9812•Staples.With55%ofStaplescompanieshavingreported,81%arebeating4Qbhupinder.singh@jpmorgan.comearnings(vs.75%avg.last4Qs)and43%arebeatingrevenueestimates(vs.NarendraSingh62%).(1-212)622-0087•Industrials.With78%ofIndustrialscompanieshavingreported,80%arenarendra.x.singh@jpmorgan.combeating4Qearnings(vs.77%avg.last4Qs)and69%arebeatingrevenueArunJainestimates(vs.68%).(1-212)622-9454Surprise/Growth.S&P500companiessofarhavesurprisedonnetincomebyarun.p.jain@jpmorgan.com5.1%(vs.2.9%last4Qs,ex-Financialsat6.3%).Forcompaniesthathaverep...