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December 20, 2025 | Tech Talk for Saturday December 20th 2025
Don Vialoux
The Bottom Line
Santa Claus arrived later than usual this year! The proverbial Santa Claus Rally in North American equities from December 14th to January 6th started on Thursday December 18th Equity prices responded late last week when analysts significant increased quarterly earnings and revenues estimates.
Consensus for Earnings and Revenues for S&P 500 companies
Source: www.factset.com
Analyst earnings and revenue estimates increased significantly from last week’s report:
- Consensus for fourth quarter 2025 earnings gains increased to 8.3% from8.1%.
- Consensus for revenue growth increased to 7.6% from7.5%. For all of 2025, consensus for earnings gains increased to 12.3% from 12.1%. Consensus for revenue gains increased to 7.0% from 6.9%.
- Consensus for first quarter 2026 calls for a 13.1% earnings increase, up from 12.4% last week. Revenue gains increased to 8.2% from a previous 7.9% gain.
- Consensus for second quarter 2026 earnings gains increased to 14.6% from 13.8%. Consensus for revenue gains increased to 7.3% from 7.1%.
- Consensus for third quarter 2026 earnings calls for a 14.7% gain, up from 13.8% last week. Consensus for revenue gains increased to 6.5% from 6.3%
- Consensus for fourth quarter 2026 earnings calls for a 18.1% earnings gain versus 17.5% last week and a7.2% revenue gain, up from 7.1% last week.
- For all of 2026, consensus for earnings growth increased to 15.0% from 14.5%. Consensus for revenue gains increased to 7.2% from 7.1%.
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Don Vialoux December 20th, 2025
Posted In: Tech Talk
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