Only 150 companies have reported earnings since Alcoa kicked off earnings season earlier this month, and 70% of them have beaten analyst estimates for earnings per share. The earnings beat rate was 68% in the prior two quarters, so beating that number was going to be tough. But so far, companies have delivered. With the market struggling, it appears as if investors have already factored in a healthy earnings season and are focused on other things. If the numbers keep up at this rate, however, the strength will be hard to ignore.
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