As of this morning, just over 10% of the S&P 500 companies have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 64%
- Companies Matching Estimates: 5%
- Companies Falling Below Estimates: 31%
Compared to the start of last earnings season, the breakdown has shifted with a significantly larger increase in companies beating vs. missing estimates. Bank of America has had the biggest percent surprise to the upside followed by Intel and Goldman Sachs . In absolute dollars, financials sit atop the leaderboard. After BAC's surprise of nearly $2.6 billion, Citigroup follows with its $876 million surprise. Goldman's $808 million surprise is next.