by Bespoke Investment Group
Since last Thursday, roughly 800 companies have reported earnings, which is nearly half of the total amount of reports we've seen since earnings season began on July 9th. While we've seen a ton of reports over the last week, the overall percentage of companies that have beaten both earnings and revenue estimates has stayed the same. As shown below, the earnings beat rate currently stands at 59.9%, which is just a tenth of a percent below where it was a week ago. The revenue beat rate is currently at 48.2%, which is a tenth of a percent above where it was a week ago.
The earnings beat rate has been right around 60% for six consecutive quarters now. The revenue beat rate, however, is well below its historical average this earnings season.
We're now at the back end of the second quarter reporting period, so we don't expect these readings to change much from here.
Copyright © Bespoke Investment Group
