JPM

Earnings Season Kicks Off Amid Pandemic as Companies Pull Guidance

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Some 180 companies in the S&P 500 index have pulled their earnings guidance because of novel coronavirus uncertainties limiting the visibility of investors and analysts, the Wall Street Journal reported over the weekend.

3 Earnings Beats to Buy As Another Huge Week ApproachesSource: Shutterstock

Goldman Sachs (NYSE:GS), Netflix (NASDAQ:NFLX) and JPMorgan Chase (NYSE:JPM) unofficially kick off earnings season this week.

Corporate earnings among companies in the S&P 500 are expected to have fallen nearly 45% in Q2 YoY, according to analysts polled by FactSet, WSJ reported.

Profits are only expected to begin climbing in the first quarter of next year.

Even before the pandemic, JPMorgan CEO Jamie Dimon and Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) chairman Warren Buffett argued that offering financial guidance promotes a short-term view of corporate success.

The post Earnings Season Kicks Off Amid Pandemic as Companies Pull Guidance appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.