Artificial intelligence has been a focus topic for the market. Given the heightened interest, have more S&P 500 companies than normal commented on “AI” during their earnings conference calls for the first quarter?
The answer is yes. FactSet Document Search (which allows users to search for key words or phrases across multiple document types) was used to answer this question. Through Document Search, FactSet searched for the term “AI” in the conference call transcripts of all the S&P 500 companies that conducted earnings conference calls from March 15 through June 4.
Of these companies, 210 cited the term “AI” during their earnings calls for the first quarter. This number is well above the 5-year average of 114 and the 10-year average of 72.
In fact, this is the fifth consecutive quarter in which more than 200 S&P 500 companies have cited “AI” on their earnings calls.
At the sector level, the Information Technology sector has the highest number (61) and percentage (94%) of companies citing “AI” on Q1 earnings calls.
It is interesting to note the number of S&P 500 companies citing “AI” on earnings calls declined by 14% quarter-over-quarter (210 vs. 243). Eight of the eleven sectors recorded a quarter-over-quarter decrease in the number of companies citing “AI” on their earnings calls, led by the Industrials (-7) and Consumer Staples (-6) sectors.
However, the previous quarter also marked the highest number of S&P 500 companies citing “AI” on earnings calls going back at least 10 years. The number recorded for Q1 2025 (210) was consistent with the numbers recorded for Q3 2024 (212), Q2 2024 (212), and Q1 2024 (214).
Some of the charts and commentary normally published in the FactSet Earnings Insight report are not available in this week’s report. We apologize for any inconvenience.
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Mr. John Butters is Vice President and Senior Earnings Analyst at FactSet. His weekly research report, “Earnings Insight,” provides analysis and commentary on trends in corporate earnings data for the S&P 500 including revisions to estimates, year-over-year growth, performance relative to expectations, and valuations. He is a widely used source for the media and has appeared on CNBC, Fox Business News, and the Business News Network. In addition, he has been cited by numerous print and online publications such as The Wall Street Journal, The Financial Times, The New York Times, MarketWatch, and Yahoo! Finance. Mr. Butters has over 15 years of experience in the financial services industry. Prior to FactSet in January 2011, he worked for more than 10 years at Thomson Reuters (Thomson Financial), most recently as Director of U.S. Earnings Research (2007-2010).
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The information contained in this article is not investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.
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