So far, excluding financials, the
However, the tally for revenue is a bit more upbeat, which suggests demand is stronger than expected.
39% of firms beat consensus
Goldman Sachs
While the number of companies' missing estimates is less than average, the number that missed sales estimates by at least one standard deviation is slightly higher than usual at 22% versus the 18% average, according to the report.
Goldman Sachs
"This is an improvement versus the last two quarters when half as many firms beat sales expectations while twice as many missed," write the analysts at Goldman.
Still, it's far too early in the earnings season to jump to any conclusions.