- With about 90 percent of all S&P 500 companies having reported, the blended growth rate - comprising the actual reported numbers along with analysts’ estimates for the remaining 10 percent - is a stonking 91 percent.
- A big part of that figure comes from the basis of comparison being the lockdown period of Q2 2020. But even so, the results far outperformed expectations.
- And yet, for all those stellar earnings beats, the response from the market has been little more than a yawn. It seems that the Q2 earnings season got dragged into the emerging “peak growth” narrative that has settled into mainstream thinking.
For further details see:
Killer Earnings, Fading Exuberance