FYI: Just like that, earnings season is nearly half over. As of Friday, 44% of companies in the S&P 500 index had reported second-quarter results. The numbers are a mixed bag. Some 77% of the reporters have delivered better-than-expected earnings, while 61% have posted revenue beats, according to FactSet. That earnings-beat rate is above the five-year average of 72%.
But expectations were low. As of the latest reports, the S&P 500 is still on track to show a 2.6% decline in aggregate earnings. The first quarter saw a similar decline. If the second-quarter slip holds through earnings season, it would mark the first consecutive-quarter decline since the opening half of 2016, FactSet notes.
Regards,
Ted
https://www.barrons.com/articles/earnings-season-so-far-revenue-beats-meet-low-expectations-51564196201?mod=djem_b_Weekly Feed for Barrons Magazine
