After rising from 7.2% to 8.3% during the quarter, positive EPS surprises have driven the Q4 earnings growth rate for the S&P 500 higher to 12.1% today.

FactSet VP Senior Earnings Analyst John Butters discusses this fifth straight quarter of double-digit growth for the index, along with sector performance, domestic vs. international exposure, net profit margins, the increase in AI discussions on Q4 earnings calls, and analyst expectations for earnings growth in 2026.

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