Research Detail
| 2024/11/05 / Erste Group Research |
3Q reporting season in the USA clearly positive Rating changes: Roche Holding, D.R. Horton 70% of the companies in the S&P 500 have already reported their Q3 results. Overall earnings growth is expected to be +5.1% (y/y). Sales should increase by +5.2% (y/y). A high profit growth of +12.7% (y/y) is forecast for the 4th quarter. The expectation for US earnings growth this year is +7.7% (y/y). It should rise to +14% (y/y) in the coming year. The conditions for a continuation of the upward trend in the leading US indices are therefore good. Earnings forecasts for European companies have improved for the 3Q. Expected earnings growth is +6.2% (y/y) and +8.7% (y/y) for the 4Q. Overall, the profit decline for Europe in 2024 is -2.0% (y/y). Profit growth of +5% (y/y) is forecast for next year. Alphabet: Advertising revenues up strongly in 3Q, revenue growth at Google Cloud +35% Y/Y Microsoft: AI & cloud drive growth Meta Platforms: Strong increase in advertising revenue and profit, focus on AI applications |
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General information
| Author | Erste Group Research |
| Date | 2024/11/05 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Germany, Switzerland, United Kingdom, United States |
| Currency in focus | British Pound, Euro, Swiss Franc, US Dollar |
| Sector in focus | Automobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities |
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| Name | ISIN | # Erste Group products |
| Shell | GB00B03MLX29 | 0 |
| Siemens | DE0007236101 | 0 |
| Southern Co | US8425871071 | 0 |
| Starbucks | US8552441094 | 0 |
| T-Mobile US | US8725901040 | 0 |
| Taiwan Semiconductor | TW0002330008 | 0 |
| Tencent | KYG875721634 | 0 |
| Tesla | US88160R1014 | 0 |
| Thermo Fisher Scientific | US8835561023 | 0 |
| Tokyo Electron | JP3571400005 | 0 |
| TotalEnergies | FR0000120271 | 0 |
| Toyota Motor | JP3633400001 | 0 |
| UBS | CH0244767585 | 0 |
| UniCredit | IT0005239360 | 0 |
| Unilever | GB00B10RZP78 | 0 |
| UnitedHealth Group | US91324P1021 | 0 |
| Vale | BRVALEACNOR0 | 0 |
| Verizon | US92343V1044 | 0 |
| Vertex Pharmaceuticals | US92532F1003 | 0 |
| Vinci | FR0000125486 | 0 |
| Visa | US92826C8394 | 0 |
| Volkswagen | DE0007664039 | 5 |
| Walmart | US9311421039 | 0 |
| Walt Disney | US2546871060 | 0 |