Q4 2024 Earnings: “Mixed Results Relative to Expectations”

One thing’s for certain: It’s noisy out there. I like FactSet’s view on earnings season right now:

While the percentage of S&P 500 companies reporting positive earnings surprises is above the 10-year average, the magnitude of earnings surprises is below the 10-year average.

Translation: We remain trending upwards; however, the margin of that trend is slimming.