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Earnings Beat Rate Picks Up

Last week we posted our first reading of the earnings and revenue beat rates for the second quarter reporting period.  At that time, 69% of companies had beaten earnings estimates and 50.3% had beaten revenue estimates.  A good chunk of companies have reported since our last post, and below are updated readings of the earnings and revenue beat rates.  As shown, the earnings beat rate has actually picked up a bit and is now at 71.2%.  The revenue beat rate has also increased 3 percentage points up to 53.2%.