FxWirePro: S&P 500 earnings update

So far 57 percent of the companies in S&P 500 have reported their earnings. Let’s take a look at the key takeaways,

• So far, 72 percent of the companies that reported actual results, reported better than expected earnings which are at an average 6.4 percent higher than the estimates. Only 17 percent of the companies reported worse than estimated earnings.
• 73 percent of the companies reported higher sales.
• Best performing sector has been information technology, where 84 percent of the companies reported better than expected earnings, followed by Healthcare (83 percent), Utilities (80 percent), Industrials (78 percent), Financials (78 percent), and Real Estate (74 percent).
• The worst performers have been Telecom and the Energy sector, where only 50 percent of the companies have beaten EPS estimates. However, earnings growth was biggest for the energy sector due to rise in oil price.
• In terms of sales, best performing sector has been Telecom, where all companies have beaten their sales estimates, followed by Energy (88 percent), Materials (85 percent), and information technology (84 percent).
• The worst performer was Utilities where only 44 percent of the companies have beaten sales estimates, followed by Consumer Discretionary (61 percent), and Real Estate (67 percent).

Better than expected earnings have pushed all three, S&P 500, Dow Jones Industrial Average, and NASDAQ to all-time highs. S&P 500 is currently trading at 2473, while DOW is at 21963, and NASDAQ at 6362.

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