FactSet Senior Earnings Analyst John Butters provides a final update of the key metrics for the fourth quarter earnings season for the S&P 500 as 96% of companies in the index have now reported earnings results for the quarter. He also discusses revisions to earnings estimates for S&P 500 companies for the first quarter of 2021. Analysts have increased their EPS estimates in recent quarters—is that trend continuing in the first quarter of 2021?