BlockBeats news, on August 8, JPMorgan stated that the second-quarter earnings season is nearing its end, with approximately 80%-85% of companies in the U.S. and Europe having reported results, and overall earnings performance significantly exceeding expectations.
Data shows that large-scale EPS (earnings per share) surprises have occurred in both the U.S. and Europe, with a significantly higher proportion of companies exceeding market expectations. Despite high market valuations and profit forecasts entering the earnings season, the composite EPS for S&P 500 constituents has continued to be raised, and the proportion of companies revising down their profit outlooks has fallen to the lowest level since 2021.
Regionally, U.S. and European corporate earnings grew by 25% and 23% year-over-year, respectively, exceeding market consensus expectations; revenue increased by 14% and 10% year-over-year, indicating continued solid revenue growth.
In terms of sectors, J.P. Morgan noted that the energy sector was one of the key drivers of profit growth in both regions, primarily due to rising energy prices fueled by geopolitical conflicts. Additionally, the financial and technology sectors also made significant contributions to overall profit growth.