What did we learn from Q3 earnings season?
With nearly 90% of companies reported, Q3 S&P 500 earnings are up a robust 39% year-over-year, well ahead of expectation for 28% growth predicted at the end of September. Although not as strong as last quarter’s 87% increase, which benefited from the base effects of the pandemic recession a year earlier, it is still the third highest EPS growth rate in over a decade.