It was a busy week for earnings with 136 S&P 500 (SPX) companies having reported. This brings the total number of companies that have reported third quarter earnings to 376, or 75% of the SPX. With only a quarter of the SPX left to report, here is where we stand so far (source: I/B/E/S data from Refinitiv):
- Q3 2018 blended earnings growth is expected to be up 27.1% year-over year. As we expected, Q3 earnings growth has steadily moved higher from the start of the earnings season (Oct. 1st), when estimates were calling for 21.6% earnings growth.
- 9% of companies that have reported beat their earnings estimates, while 13.8% have missed estimates.
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