More than 60% of companies have now reported in both the US and Europe and 44% in Japan. Overall results are strong, with double digit EPS growth in the US and Europe, and high single digit earnings growth in Japan. All 3 regions are seeing positive surprises.
US: 86% of S&P500 companies beat EPS estimates, the highest since we started compiling these numbers in ’09. EPS growth is running at +25% y/y, surprising positively by 5%. All sectors except Real Estate are printing double digit earnings growth. Topline growth is robust as well: overall sales are up 10% y/y, with 72% of companies beating estimates.
Europe: 56% of Stoxx600 companies beat EPS estimates, surprising positively by 1%.EPS growth for the index is tracking at +12% y/y, but is lower ex-Energy at +6%y/y. Most sectors are delivering positive growth, with stronger growth from Cyclical sectors. While overall topline growth at 8% appears healthy, we note that Defensive sectors are reporting flat or negative growth.
Japan: 58% of Topix companies beat EPS estimates, delivering +8% y/y EPS growth. Although the proportion of earnings beats has improved this quarter, it continues to be lower than the historical average. Revenue growth is more muted, at +4% y/y.
DM은 저렇게 잘 나간다. 코스피 코스닥은 2Q 실적 미스할거 같은데... 3Q라고 나아질거 같지 않고
한국은...잘 안되는게 다 정권 탓이라고 볼 수야 없겠지만 될 것도 안되게 만들어주는 분위기이니 ㅆㅂ
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