Half Way Through Earnings
The number of S&P 500 companies reporting positive earnings surprises continues to rise, as 56% of S&P companies have now reported.
Of these companies, 73% have reported actual EPS above estimates, bringing the average after last week up from 68%. In aggregate, companies are reporting earnings that are 3.1% above estimates.
In terms of revenues, 66% of S&P 500 companies have reported actual revenues above estimates. In aggregate, companies are reporting revenues that are 2.5% above the estimates.
Not too shabby.
Agreed. Not as bad as the talking heads would lead us to believe.