Another week of earnings season is in the books, and even though the number of companies that have reported this season nearly doubled from 855 up to 1,655, the percentage of companies that have beaten earnings estimates this season remained the same at 59%. As shown below, a 59% beat rate is a respectable reading compared to other earnings seasons over the past few years, but it's nothing to get exicted about.
Top-line revenue numbers did get better this week, however. As shown in the second chart below, 52% of companies have beaten revenue estimates this season. While this is a low reading compared to the average of 60% since the bull market began in 2009, it's a lot better than the 43% reading that was in place early on this season. We'll see if the revenue beat rate can continue to inch higher as earnings season enters its final phase over the next couple of weeks.