Earnings expectations have fallen since early this year, according to First Call and IBES.
Following are expectations for some key industries:
The energy sector has been hit hard this quarter, with earnings expected to fall 24%, on average, from a year earlier, according to Chuck Hill, director of research at First Call, which tracks profit forecasts on Wall Street.
With oil prices hitting nine-year lows this week, earnings at big oil companies such as Exxon Corp. and Mobil Corp. are expected to fall about 33%.
But oil service companies and oil drillers are expected to post higher results, Hill said.
Technology quarterly earnings are expected to fall 6% from a year earlier, compared with earlier forecasts for 10% growth, Hill said.
But the software sector has shown strength, and companies including Microsoft Corp., Oracle Corp. and Netscape Communications Corp. are forecast for profit growth of 20%, up from 17% earlier.
Forecasts for chip makers have been hammered. Analysts now expect profits for the group to fall 29%, compared with previous forecasts for flat profits or sluggish growth of 1%.
The sector includes Advanced Micro Devices Inc., Intel Corp. and Texas Instruments Inc.
For financial services, led by international banks such as Citicorp, expectations have held steady at about 11%.
Industrial companies, such as Caterpillar Inc., have seen estimates shaved to 10% growth from 20% in January, according to First Call.