Profits spectacular

Tuesday, 3 August 2021

BofA with the note:

2Q EPS tops our estimate; a 14% beat

Following the busiest earnings week of 2Q, 296 S&P 500 companies (76% of index earnings) have reported. 2Q EPS is now tracking a 14% beat or $51.12, topping our estimate of$50 or an 11% beat. 2Q is now expected to be +83% YoY or +24% vs. 2Q19,vs.last quarter’s 25% 2-yr growth rate. Revenues are tracking a 3% beat (+21% YoY).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.