The market wasn’t particularly impressed with otherwise good-looking results from a number of bellwether players like Netflix NFLX and Microsoft MSFT, but investors cheered the numbers from Alphabet GOOGL, Meta META and many others.
Taking big-picture view of this reporting cycle, with results from more than half of S&P 500 members already out, Q2 numbers have been positive, notably better than what many had been expecting, and reassuring about the coming periods.
Including the releases that came out in the morning session of Tuesday, August 1st, we now have seen Q2 results from 293 S&P 500 members or 58.6% of the index’s total membership. Total earnings for these companies are down -9% from the same period last year on +0.4% higher revenues, with 80.9% beating EPS estimates and 65.9% beating revenue estimates.
This is notably better performance on the earnings front than we have seen from this group of 293 index members in other recent reporting cycles.
Microsoft Corporation (MSFT): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
Alphabet Inc. (GOOGL): Free Stock Analysis Report
Meta Platforms, Inc. (META): Free Stock Analysis Report
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