The second-quarter 2025 earnings season delivered one of the biggest beats in over a decade — excluding the COVID rebound — with corporate America surprising investors across the board.
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But as strong as the results were, much of the growth is still concentrated in a handful of mega-cap stocks.
According to a Goldman Sachs report shared Monday, 92% of S&P 500 companies have reported results, with 60% beating EPS estimates by over one standard deviation — the highest rate since 2009.
Aggregate S&P 500 EPS jumped 11% year over year, well ahead of the 4% analysts were expecting before the season began.
“The quarter has been marked by one of the greatest frequency of earnings beats on record,” said Goldman’s analyst David J. Kostin.