D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Investing.com -- S&P 500 companies are showing "remarkably steady" second-quarter earnings reports, with 84% of firms beating expectations, according to Deutsche Bank (ETR:DBKGn) strategists.
In a note released Friday, a team led by Binky Chadha highlighted that the current earnings season is demonstrating exceptionally strong results. The percentage of companies exceeding forecasts is approaching levels seen only during the pandemic recovery in early 2021, and significantly outpaces the historical average of 74%.
The report comes as approximately one-third of S&P 500 companies have reported their quarterly results. Companies across various sectors, including those affected by tariffs, are posting solid beats in both sales and margins at above-average rates.
Several sectors continue to show robust growth, with technology, artificial intelligence, electrical demand, and aerospace & defense performing particularly well. Energy remains the only significant underperforming sector, continuing to act as a drag on overall results.
The size of the earnings beats aligns with the above-average performance trend observed over the past two and a half years, according to the Deutsche Bank analysis.
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