A big quarter for AMC (AMC) showed the movie industry is finally regaining its footing after years of a stilted post-pandemic recovery.
The results kick off a stacked week of earnings, with Big Tech companies Alphabet (GOOG, GOOGL) and Tesla (TSLA) highlighting the calendar. The pair, along with US chipmaker Intel (INTC), will offer a crucial update on artificial intelligence demand as investors remain torn about huge capex commitments for the AI build-out.
IBM (IBM), meanwhile, will provide a fuller picture of its Q2 results after its stock plunged on pre-announced earnings. Rounding out the docket this week are reports from General Motors (GM), GE Vernova (GEV), AT&T (T), Lockheed Martin (LMT), and American Express (AXP).
Overall, it’s shaping up to be a strong earnings season for the S&P 500 (^GSPC). According to FactSet data, analysts estimate the year-over-year S&P 500 earnings growth rate for the second quarter will be 24.7% — above the five-year average of 16.4% and the 10-year average of 10.3%.
If that holds, it will mark the second consecutive quarter of earnings growth above 20% for the index and the seventh straight quarter of double-digit growth.