S&P 500 sees second straight quarter of double-digit earnings growth
Blended earnings growth of 10.1% beat estimates of 6.4%
As of Friday, the blended earnings growth rate for S&P 500 companies for the second quarter was 10.1%, versus estimates of 6.4% at the end of June, reports FactSet.
If the number holds up after all firms have reported results, it will mark the first time the index has seen two consecutive quarters of double-digit growth since 2011.
Three sectors account for 74% of the $9.7 billion increase in earnings since June 30: Health Care, Financials, and Information Technology.