By the end of next year, corporate earnings may have recovered from the anticipated pandemic-induced slump — at least if analysts are right.

What's going on: EPS forecasts for this year have plunged to $128 per share from the $161 expected before the pandemic hit, according to FactSet.

Within the last month, earnings expectations for next year have remained steady. Meantime, expectations for 2o22 have actually edged higher within that same time period.

  • Projections for both are still way below where they were at the beginning of 2020 when it looked as though the economy would continue to hum along.

The bottom line: Prospects of a V-shaped recovery are all but dead — except (so far) in the eyes of analysts projecting S&P 500 EPS.

  • “Analysts are expecting a ‘V’ shaped recovery in corporate earnings, and Q2 is supposed to be the nadir,” Nicholas Colas, co-founder of DataTrek Research, said in a note this week.

Go deeper: Corporate debt issuance has already topped $1 trillion in 2020

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Zoom crushes Q2 analyst expectations amid pandemic

Illustration: Rebecca Zisser/Axios

Zoom's stock price is up nearly 10% in after-hours trading after the vide0-chat company posted Q2 results well above analyst expectations and raised its full-year guidance.

Why it matters: Zoom is unquestionably one of the biggest winners of the ongoing pandemic as restrictions on in-person interactions have forced many around the world to shift nearly all personal and professional activities online.

Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.

Louisiana braces for 3rd hurricane in 2 months as Tropical Storm Zeta nears

Municipality workers clean the streets of garbage in Playa del Carmen, Mexico, on Tuesday that was left by Zeta, which struck the Yucatan Peninsula as a Category 1 Hurricane a day earlier — causing no major damage to infrastructure. Photo: Medios y Media/Getty Images

Tropical Storm Zeta is expected to strengthen back into a hurricane and bring dangerous storm surge conditions to parts of the northern Gulf Coast on Wednesday, per the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Federal Declaration of Emergency in a letter to President Trump on Tuesday, ahead of the storm's expected arrival south of New Orleans.