As of this morning, 93 of the S&P 500 companies (just under 20%) have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 67 or 72%
- Companies Matching Estimates: 9 or 10%
- Companies Falling Below Estimates: 17 or 18%
So far, the Tech sector has had some of the biggest surprises to the upside, with Novellus reporting EPS that was 300% above expectations. In absolute dollars, Citigroup leads with its $986 million surprise followed by Goldman Sachs with a $519 million surprise.