Second-quarter S&P 500 earnings growth hits 50% year-over-year, driven by strong tech sector performance and broad beats.
S&P 500 companies are on track for 50% year-over-year earnings growth in the second quarter, the fastest pace since Q2 2021. The surge reflects robust profit expansion, particularly in big tech, amid near-record index levels.
A FactSet analysis shows 86% of reporting companies beat EPS estimates, exceeding the five-year average of 78%. Aggregate earnings surpassed estimates by 29.2%, well above the 7% five-year average. The positive surprises mark the highest rate since Q2 2021.
The strong results underscore a broad-based profit rebound, with 88% of S&P 500 companies having reported. Market reactions remain muted as investors await further guidance amid elevated valuations.