Savita Subramanian, equity and quantitative strategist at Bank of America Securities, pointed out that the second-quarter earnings season is off to a hot start, and the proportion of S&P 500 companies' earnings exceeding expectations is growing
Savita Subramanian, equity and quantitative strategist at Bank of America Securities, pointed out that the second-quarter earnings season is off to a hot start, and the proportion of S&P 500 companies' earnings exceeding expectations is growing at the fastest rate in several years. So far, 80% of the S&P 500 constituent stocks that have announced financial reports have exceeded earnings per share (EPS) expectations. Subramanian said this is the strongest beat-to-expected ratio for the same earnings season since 2021. Earnings per share (EPS) growth is currently tracking at 24%, an increase of 2 percentage points from the data on July 1. It is expected that as more companies announce financial reports, the year-on-year growth rate of earnings per share will reach 28%.