More S&P 500 companies are raising their profit outlooks than cutting them, and the gap is the widest in the Bloomberg Intelligence data that starts in 2011. Through July 22, roughly 93% of companies that reported topped estimates, against a 78% five-year average, and blended growth is tracking near 25%. The strength is spreading beyond Big Tech, with the other 493 members on pace for 23% growth, their best since 2021. Despite this, the S&P 500 is stuck where it started the summer, and companies posting positive surprises have seen shares slip 0.1% on average around the report, versus a five-year norm of a 1% gain.
Broadcom Inc
Chevron Corp
FactSet Research Systems Inc
Exxon Mobil Corp