S&P 500 Profits Set to Surge More Than 30% in Q3 With AI Giants Dominating Growth

Earnings for S&P 500 companies are expected to jump approximately 31% in the third quarter compared with the same quarter a year earlier, with nearly two-thirds of that increase coming from AI-focused companies. (Credit: Getty Images)

U.S. corporate profits are heading for another blockbuster quarter, but much of Wall Street's anticipated earnings growth is coming from the technology giants riding the artificial intelligence boom.

Analysts expect earnings for companies in the S&P 500 to jump approximately 31% in the third quarter compared with a year earlier. Nearly two-thirds of that projected increase is expected to come from the technology sector and AI-focused companies, including Alphabet, Amazon and Meta Platforms.