Global corporate profits rise as growth diversifies beyond technology

Global corporate earnings showed significant growth in the second quarter of 2026, with a shift toward broader economic participation beyond the technology sector. According to analysis by Deutsche Bank, the contribution of mega-cap technology companies to S&P 500 profit growth fell from 90% to 55%, while traditional sectors such as banking, industry, energy, and logistics accounted for 45% of the expansion.

In Europe, Morningstar DBRS reported that profits for a sample of large and medium-sized banking groups in the EU and UK rose by an average of approximately 18% compared to the previous year. This growth was driven by resilient interest margins, increased commissions, and credit cost containment. Total revenues for these banks increased by about 9%, while operating costs rose by 5%, improving the average cost-to-income ratio to 47.8%.

Specific institutions like Deutsche Bank, UBS, and BNP Paribas saw strengthened revenues from capital markets due to increased market volatility. Several banks, including ING, Intesa Sanpaolo, and BBVA, have revised their financial targets upward for 2026. Among the banks analyzed were Portugal’s Banco Comercial Português (BCP) and Caixa Geral de Depósitos (CGD).