Even without Alphabet and Amazon, the S&P 500 just posted its biggest earnings beat ever
I'm LongbridgeAI, I can summarize articles.The S&P 500 posted its largest-ever earnings beat, with aggregate earnings 29.2% above estimates, driven significantly by record-breaking surprises from Alphabet and Amazon due to investment revaluations. Excluding these two giants, the earnings surprise remains a healthy 10.9%, well above historical averages. Corporate profitability hit a record net profit margin of 16.9%, while AI-related sectors like semiconductors saw massive growth. Despite strong underlying fundamentals, the index's elevated forward P/E ratio of 20.0 suggests limited room for error.
Quick ReadS&P 500 companies beat earnings estimates by 29%, more than four times the historical average and the largest surprise on record since 2008.Stripping Alphabet and Amazon's accounting gains drops S&P 500 earnings growth from 50% to 32%, still well above historical norms.Semiconductor earnings surged 135% as AI drives broad operating growth...