Goldman Sachs expects S&P 500 constituent stocks to see a 27% year-on-year increase in quarterly profits in September.

智通财经2026/10/07 04:36

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As companies make massive investments in AI infrastructure, U.S. corporations are set to usher in another strong earnings season. According to Goldman Sachs, the S&P 500 companies are expected to report a 27% year-over-year increase in earnings for the September quarter, driven by firms at the core of the AI infrastructure boom. Ben Snider, Chief U.S. Equity Strategist at Goldman Sachs, stated, "Recent macroeconomic data and signals related to the AI investment frenzy show no indication that investment is slowing down." Manish Kabra, Chief U.S. Equity Strategist at Societe Generale, said that this will mark the third consecutive quarter with profit growth exceeding 25%, an unprecedented streak outside of the post-financial crisis recovery periods. Revenue is projected to grow by 12%. Steve Chiavarone, Chief Investment Officer for Federated Hermes Equities, pointed out that thanks to capital expenditures related to AI infrastructure, investors are witnessing "the best profit and margin growth in our lifetimes." He added, "The worries that have built up... will ultimately be shattered by strong earnings performance."

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As companies make heavy investments in AI infrastructure, US corporates are poised for another strong quarterly earnings season. Goldman Sachs predicts that, driven by companies at the heart of the AI infrastructure boom, S&P 500 component firms are expected to see a 27% year-on-year increase in profits for the September quarter. Ben Snider, Goldman Sachs’ Chief US Equity Strategist, stated: “Recent macroeconomic data and signals related to the AI investment boom show no signs that investment is slowing.” Manish Kabra, Société Générale’s Chief US Equity Strategist, said this will be the third consecutive quarter with profit growth exceeding 25%—an unprecedented streak except for the post–financial crisis recovery period. Revenue is expected to grow by 12%. Steve Chiavarone, Federated Hermes’ Chief Investment Officer of Equities, noted that, thanks to capital expenditures related to AI infrastructure construction, investors are witnessing “the best profit and margin growth of our lifetime.” He added: “The concerns people have built up... will ultimately be shattered by strong earnings performance.”

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Goldman Sachs expects S&P 500 constituent stocks to see a 27% year-on-year increase in quarterly profits in September.

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