You are using an older browser version. Please use a supported version for the best MSN experience.

Earnings Season Kicks Off Amid Pandemic as Companies Pull Guidance

InvestorPlace logo InvestorPlace 7/13/2020 Robert Lakin
3 Earnings Beats to Buy As Another Huge Week Approaches © Source: Shutterstock 3 Earnings Beats to Buy As Another Huge Week Approaches

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 Approaches © Provided by InvestorPlace 3 Earnings Beats to Buy As Another Huge Week Approaches

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.

AdChoices
AdChoices
AdChoices

More from InvestorPlace

image beaconimage beaconimage beacon