U.S. companies leap over low profit hurdle in coronavirus-hit quarter

A record high percentage of U.S. companies are beating analysts' forecasts this earnings season, giving investors a glimmer of hope in what is still expected to be the slowest profit period since the financial crisis. More than halfway through second-quarter earnings, 82.1% of companies reporting have surpassed profit expectations, which would be the highest in the history of Refinitiv IBES data going back to 1994. S&P 500 companies have beaten earnings expectations by a whopping 21.7%, also set to be the highest on record since 1994, based on Refinitiv's data as of Friday.

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