Including all of Friday's releases, we now have Q2 results from 217 S&P 500 members that combined account for 54.1% of the index’s total market capitalization. Total earnings for these 217 companies are up +21.8% from the same period last year on +8.8% higher revenues, with 81.6% beating EPS estimates and 72.8% beating revenue estimates. The proportion of these 217 companies beating both EPS and revenue estimates is 63.1%.
The comparison charts below put these results in a historical context
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With respect to the Tech sector results, the Facebook (FB) miss is dominating headlines, but overall results for the space have been very positive and reassuring. We will have a fuller view of the sector’s earnings after Apple (AAPL) reports results next week, but the results thus far are showing plenty of growth momentum.
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