NEW YORK (Apr 15): Wall Street is bracing for large U.S. companies to report a decline in quarterly profits even after raking in higher revenues, something that has not happened in more than a decade.

S&P 500 companies due to report in the coming weeks face tough comparisons with last year, when the U.S. tax code overhaul helped boost profits by more than 20%.

But with rising costs, some resulting from tariffs, analysts see profit margins shrinking by 1.1 percentage point, the first year-over-year decline in at least two years, IBES data from Refinitiv showed.

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