The December 2025 quarterly earnings season has unfolded with a nuanced picture across market capitalisations, sectors and individual companies. Of the 3,956 stocks that have declared results, 46.0% reported positive outcomes, marking a modest improvement from the previous quarter’s 44.0%. While mid-cap companies continue to outperform with a 52.0% positivity rate, large caps lag behind at 43.0%, reflecting ongoing sectoral and economic headwinds.