With Q2 results from almost 53% of S&P 500 members already out, we have not seen any unusual and unexpected weakness in corporate earnings. Growth was expected to be weak in Q2 and the reports thus far confirm that expectation.
Through July 30th, we have seen results from 262 S&P 500 members or 52.6% of the index's total membership. Total earnings for these companies are up +3.2% on +5.2% higher revenues, with 77.6% beating EPS estimates and 56.3% beating revenue estimates.
The charts below put these results in a historical context
The trade issue has been a recurring theme this earnings season. In addition to companies in the technology sector, operators in a variety of areas like JPMorgan (JPM - Free Report) , Caterpillar (CAT - Free Report) , CSX Corp (CSX - Free Report) and others have cited the trade overhang as a reason for an uncertain business outlook.
For more details about the Q2 earnings season and expectations for the coming quarters, please check out our weekly Earnings Trends report.
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