S&P 500 earnings per share (EPS) growth for the fourth quarter is tracking to nearly 13% year over year, with about 60% of that EPS growth expected to be driven by the technology sector and half from the Magnificent Seven.

The technology sector is expected to deliver the strongest fourth quarter earnings growth at over 30%, followed by industrials at over 23% – though boosted by some one-time items – and communication services at 14%.

With about 60% of S&P 500 companies having reported, overall forward estimates have inched higher. Amid the debate about returns on AI investment and threats of disruption, earnings keep chugging along.

This week 78 S&P 500 companies will report fourth quarter results.

Source: LPL Research, FactSet, 02/06/26