US500 and the Q4 2025 Earnings Scene: A New Yorker’s Take
Alright, folks, let’s chat about the US500 as it tries to find its footing after some recent slips. Perfect timing to dive into the Q4 2025 earnings report. Now, the big guns—our favorite US corporates—are not just seeing profits but also top-line boom. That means growing revenue, which is a solid indicator of demand, not just how well they’re trimming costs. We’re looking at a juicy 9% year-over-year revenue growth for Q4 in the S&P 500. That’s the most robust it’s been since Q3 2022 when it hit 11%.
The highlight? Revenue growth projections kept being nudged higher as the season rolled on. At the end of September 2025, estimates were at 6.5%, bumped to 7.8% by December. We’re talking about ten out of eleven sectors reporting year-over-year growth, with Information Technology, Communication Services, and Health Care breaking into double digits.
the biggest players
Several sectors are driving the charge. In the Information Technology arena, revenues soared to 20.6%, up from the previous 17.9%. Apple, Super Micro Computer, and Microsoft all exceeded expectations, showing us why they’re the big players.
Key positive surprises:
- Apple: $143.76bn vs $138.39bn expected
- Super Micro Computer: $12.68bn vs $10.42bn expected
- Microsoft: $81.27bn vs $80.31bn expected
In Health Care, revenue climbed to 10.3% from 9.0%. Giants like Cigna, CVS Health, and Eli Lilly are flexing their muscles.
Positive surprises:
- Cigna: $72.50bn vs $70.31bn expected
- CVS Health: $105.69bn vs $103.70bn expected
- Eli Lilly: $19.29bn vs $17.94bn expected
- Centene: $49.73bn vs $48.39bn expected
Communication Services isn’t lagging either, with revenue growth escalating to 12.2% from 10.2%. Plus, Industrials saw a jump to 7.8%, with Boeing, RTX, and Caterpillar exceeding forecasts.
Positive surprises:
- Boeing: $23.95bn vs $22.60bn expected
- RTX: $24.24bn vs $22.69bn expected
- Caterpillar: $19.13bn vs $17.85bn expected
Other notable surprises include:
- Apollo Global Management: $9.86bn vs $4.77bn expected
- Phillips 66: $36.33bn vs $33.86bn expected
- Amazon: $213.39bn vs $211.44bn expected
- Ford: $45.90bn vs $43.60bn expected
what’s next: cooling off
Now, let’s temper our enthusiasm with what the crystal ball shows. Analysts predict revenue growth will mellow as we trot through 2026.
- Q1 2026: 8.7% y/y
- Q2 2026: 7.9%
- Q3 2026: 7.3%
- Q4 2026: 7.4%
under the microscope
Despite solid numbers from FactSet, S&P 500 futures aren’t reflecting an upward sprint. This raises a brow as it could imply that valuations have sprinted past earnings. With stocks priced for perfection, there’s limited space for more upward movement. Still, earnings and revenue momentum offer substantial support for the current market valuations.
Sources say (see more on xStation5) that even as the market pauses, the numbers spell a story of robust growth.
Stay tuned, it’s New York after all, where anything can happen by the time you finish your morning coffee.
