While the market has pulled back quite a bit this earnings season, the underlying data for corporate America has been strong. As shown below, 65% of companies that have reported this season (1,100+) have beaten bottom line EPS estimates, while 64% have beaten top line revenue estimates. If these beat rates hold, it would be the strongest earnings beat rate seen since Q4 2010 and the strongest revenue beat rate since Q2 2011. No wonder individual stocks are reacting very positively on their report days this season!
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