Seasonal update for the S&P 500 reporting period
In the middle of the Q2 seasonal update for the S&P 500, the number of companies reporting positive earnings surprises is above recent averages. The magnitude of these earnings surprises is below recent averages. 51% of S&P 500 companies have so far reported actual results for Q2 2023.
Of these companies, 80% have reported actual earnings per share above estimates, which is above the 5-year average of 77% and above the 10-year average of 73%. Overall, businesses report revenues that are 5.9% above estimates.
In the coming week, 170 S&P 500 companies (including four Dow 30 components) are scheduled to report second quarter results. It remains to be seen whether this seasonal update will be stronger than usual.
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