NEW YORK, September 8 — S&P 500 companies closed out the second-quarter earnings season with analysts lifting earnings-per-share estimates for a second consecutive quarter, a signal that Wall Street’s outlook for the rest of 2026 is firming up. The headline figure that matters: the so-called “Mag 7” group of large technology and tech-related firms reported earnings growth above 100% for Q2 2026, a surge FactSet says was boosted by investment gains.
FactSet’s Vice President and Senior Earnings Analyst John Butters published the findings September 3 in the weekly “Earnings Insight” report, titled “Earnings Insight Infographic: Q2 2026 By the Numbers.” The data reflects a late-stage view of the season, which saw companies report results through August. By the numbers, the index also posted its highest revenue growth since Q4 2021, pointing to broad top-line strength across major sectors rather than gains concentrated in a few names.
Butters, who joined FactSet in January 2011, has more than 15 years in financial services. He previously spent over a decade at Thomson Reuters (Thomson Financial), serving as Director of U.S. Earnings Research from 2007 to 2010. His work is widely cited in financial media, including CNBC, Fox Business News, The Wall Street Journal, The Financial Times, and The New York Times.
The report’s quantitative breakdown covers year-over-year growth, performance relative to expectations, and revisions to estimates. FactSet notes the information is for informational purposes only and not intended as legal, tax, or investment advice.
Investors will note the upward estimate revisions mark two straight quarters of improving sentiment. The combination of operational improvements across the index and, for the Mag 7, significant investment gains, drove the strong showing. What to watch next: whether the revenue momentum — the strongest since late 2021 — carries into the second half of 2026 as analysts begin updating third-quarter forecasts.
