So far this earnings season, 123 companies in the S&P 500 index have reported results. Of those firms, 60 percent beat their estimates, 13 percent matched, and 27 percent missed.
Since 1994, in a typical quarter 62 percent of companies beat estimates, 18 percent match and 20 percent miss estimates, according to figures compiled by Thomson Reuters.
The current earnings surprise factor stands at -4.5 percent, while revenue is 0.3 percent.
In fact, revenue has been anemic, with 61 percent of companies missing analysts' expectations. In a typical quarter since 2000, 62 percent of companies beat, while 38 percent miss estimates.
EPS growth has also been mediocre. Compared to the same period a year ago, consumer discretionary and financial companies have taken the lead, showing EPS growth of 8 percent and 5 percent, respectively.
The biggest surprise factor came from the S&P discretionary and staples sectors.
In terms of earnings per share, ETrade Financial had the largest percent surprise, followed by Peabody Energy.
To the downside, First Horizon National had the largest percent miss in earnings per share, followed by Kinder Morgan.
Thomson Reuters Research Analyst Greg Harrison contributed to this story.