As of yesterday afternoon, 91 companies or roughly 18% of the S&P 500 have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 52%
- Companies Matching Estimates: 9%
- Companies Falling Below Estimates: 40%
Compared to the same point in last earnings season, the breakdown has shifted with a larger increase in companies missing vs. beating estimates. Financials lead the surprises to the upside and downside on a percentage basis. Janus Capital has had the biggest surprise to the upside followed by Monsanto . In absolute dollars, tech rules. Apple leads with its $347 million surprise followed by IBM's $336 million surprise.