Record number of S&P firms beating Q2 sales estimates
73% of companies reporting so far are ahead of expectations
FactSet reports Monday that, with 57% of companies reporting already in for Q2 earnings and sales, S&P 500 firms are on pace to top the record number of firms beating expectations.
73% have reported sales above estimates, versus 56% over the past year and 53% over the past five years. Since FactSet began tracking the data in 2008, the highest full quarter percentage of firms reporting sales above estimates was 72% in 2011.
Telecom Services (100%), Energy (88%), Materials (85%), and Information Technology (84%) sectors posted the highest percentages of companies reporting revenues above estimates so far in the quarter.