TECH - Adobe Oracle Costco and AutoZone are Part of Zacks Earnings Preview | Benzinga
For Immediate Release
Chicago, IL – June 17, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Adobe (NASDAQ: ADBE), Oracle (NYSE: ORCL), Costco (NASDAQ: COST) and AutoZone (NYSE: AZO).
Q2 Earnings Season Gets Underway
The recent Adobe and Oracle quarterly releases kicked off the 2024 Q2 earnings season. These results from the two Tech players followed quarterly reports from Costco and AutoZone for their respective fiscal quarters ending in May.
We and other research organizations engaged in tracking earnings results in real time count such May-quarter results as part of the overall June-quarter or Q2 tally.
In fact, by the time the big banks release their quarterly results on July 12th, we will have such Q2 results from almost two dozen S&P 500 members.
Regular readers of our earnings commentary are familiar with our sanguine view of corporate profitability. The growth picture has been steadily improving over the last few quarters, and the revisions trend has notably stabilized lately.
The 'doom & gloom view' of corporate profitability that a noisy market segment appeared to subscribe to last year has largely moved to the fringes. Driving this evolution has been the U.S. economy's resilient performance in the face of the Fed's extraordinary tightening. With the Fed now gearing up to start easing policy in the coming months, many of the dire risks to the economy and corporate earnings have eased significantly.
This is the macro backdrop in which we digested the Q1 earnings season and will receive the Q2 earnings results in the coming days.
The current expectation is that Q2 earnings for the S&P index will be up +8.6% from the ...