With 11% of S&P 500 companies reporting Q2 EPS, this quarter's EPS beat rate now stands at 72%. While it's still early in the quarter, if this rate holds it would mark the second strongest quarterly beat rate since at least 1998. What makes this rate even more impressive is the fact that so far this quarter, 34% of the companies reporting have been from the Financials sector, which many have feared would report disastrous quarters. In last week's Week In Review, we mentioned that a better than expected earnings season could be the distraction needed to get investors' minds off of crumbling financials, higher oil and the weak economy. So far so good.
In the chart below, we show the S&P 500 quarterly EPS beat rate since 1998. For readers interested in following this statistic as earnings season continues, we will be updating it on a regular basis on our B.I.G. News site.
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