US profits boom tears the roof clean off

As expected at MB Fund, the new US profits boom is nothing short of extraordinary, tearing the roof already inflated expectations, via BofA:

Corporate America delivers again; tracking an 18% beat

So far, 303 S&P 500 companies comprising 78% of earnings have reported, and 1Q EPS is now tracking at an 18% beat, exceeding last quarter’s 15% beat. 1QEPS of $46.80 suggests +41% YoY and +20% vs. pre-COVID 1Q19. Cons. Disc., Financials andComm. Svcs. drove the beat, all beating by more than 30%. The proportion of beats is also robust, with 68% beating on both sales & EPS, well above the historical avg. of43%.

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