"For Q2 2023, the blended (year-over-year) earnings decline for...

"For Q2 2023, the blended (year-over-year) earnings decline for the S&P 500 is -4.1%. The second quarter will mark the third straight quarter of earnings declines reported by the index."


Incidentally @kacy these numbers are YoY, whereas the US Bureau (and my numbers) are QoQ.
Even so, I seriously doubt the -4.1% number as well
They will revise it again when they get all the data (they've already revised from -7% to -5.2% to -4.1%)
I make it -1.7% for the top 1,200 companies


"So, Q2 is bad and Q3 is likely to be even worse "

Definitely not, I have explained why in previous posts.
The current consensus is for an increase.
Even factset said that (bottom of page 8 on your report):

"Looking ahead, analysts still expect earnings growth for the second half of 2023. For Q3 2023 and Q4 2023, analysts are
projecting earnings growth of 0.5% and 8.2%, respectively."