S&P 500 EPS Beat Rate Exceeds Revenue Beat Rate as Q3 Season Advances

S&P 500 companies reporting third-quarter results through Oct. 23 were more likely to top earnings-per-share estimates than revenue forecasts, as the reporting season reached about one-quarter of index members.

Among companies that had reported, 83% beat EPS estimates and 66% beat revenue estimates, a difference of 17 percentage points. The figures cover results season to date across the index.

In the Financials sector, blended earnings growth rose to 4.6% from 2.9%. Positive EPS surprises from Capital One, American Express and Chubb contributed to the increase.

Chubb posted third-quarter core operating income per share of $7.66. “We had a really strong quarter with strong contributions from all of our businesses,” Chubb Limited Chairman and CEO Evan G. Greenberg said.