Earnings Picture Remains Robust: A Closer Look

Zacks says the S&P 500 earnings season remains very strong. Of the 386 companies reporting Q2 results so far, total earnings are up 41.7% year over year on 14.8% higher revenues, with 83.7% beating EPS estimates and 77.2% beating revenue estimates. The article notes these results are well above recent averages, though the headline growth is boosted by Micron and Alphabet, including Alphabet’s unrealized gain on its SpaceX stake. Even excluding those two names, earnings would still be up 19.6% and revenues 13.6%. Tech remains the key driver of index growth, expected to post 93.6% earnings growth in 2026 Q2; without Tech, S&P 500 growth would fall sharply. The piece is broadly supportive for equities, especially large-cap tech, as earnings revisions continue trending higher into 2026.