Q4 Earnings Outlook: S&P 4th Consecutive Growth, Big Tech Cautious Amid AI Spending Surge

As of February 6, 2026, 59% of S&P 500 companies have released fourth-quarter results, with FactSet data showing analysts expect a 13% rise in earnings per share for the quarter. If realized, this would mark the 10th consecutive quarter of annual earnings growth for the index and the fifth straight quarter of double-digit gains, down from an expected 8.3% increase this quarter. Expectations have risen, especially for technology firms, amid ongoing AI investment and continued themes of artificial intelligence, trade policy shifts under the Trump administration, and a K-shaped consumer economy. Additional reports are scheduled from Coca-Cola (KO), Spotify (SPOT), Robinhood (HOOD), Lyft (LYFT), Ford (F), Rivian (RIVN), Moderna (MRNA), Airbnb (ABNB), and Coinbase (COIN) in the week ahead.