Refinitiv data shows smaller decline in U.S. earnings view


FILE PHOTO Traders work on the floor of the New York Stock Exchange NYSE in New York City U.S. April 14 2023.  REUTERSBrendan McDermid

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. REUTERS/Brendan McDermid

NEW YORK (Reuters) - The estimated decline in first-quarter S&P 500 company earnings is smaller than analysts had expected at the start of the month, with a host of big names including Microsoft Corp and Alphabet reporting upbeat results this week, according to Refinitiv data Wednesday.

Analysts now expect first-quarter earnings to have fallen 3.2% year-over-year for S&P 500 companies. They had forecast a 5.1% decline in earnings for the quarter at the start of April.

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