what was blended s&p 500 earnings growth in q1 2026?

The blended year-over-year earnings growth rate for the S&P 500 in Q1 2026 was 27.7% — the highest earnings growth rate reported by the index since Q4 2021. FactSet

That number came in dramatically above expectations. At the end of Q1 (March 31), analysts were only estimating 13% growth — so the actual result was roughly double what was forecast going in. FactSet

The outsized surprise was driven primarily by three companies: Alphabet, Amazon, and Meta Platforms were the largest contributors to the increase in the overall earnings growth rate. As noted earlier, Alphabet's number was inflated by a large one-time gain on equity securities, so the underlying "clean" growth rate is somewhat lower than 27.7% — probably closer to the 13-15% range that analysts originally expected, which is still solid but far less dramatic. FactSet