Wolfe Research: 69% beat Q2 revenue, 64% top Q3 guidance
Wolfe Research says of 465 S&P 500 companies reporting Q2 results, 69% beat revenue expectations, and 64% of those issuing Q3 guidance exceeded consensus forecasts, the highest since COVID.
S&P 500 EARNINGS MOMENTUM HITS HISTORIC LEVELS S&P 500 earnings remain exceptionally strong, according to Wolfe Research.
Of 465 companies reporting Q2 results, 69% beat revenue expectations, while 64% of firms issuing Q3 guidance exceeded consensus forecasts—the highest share since the COVID period.
Wolfe expects adjusted earnings growth of roughly 27% in 2026, marking one of the strongest fundamental outlooks in over 50 years.
The key question is whether this momentum can continue into 2027 amid rising AI investment.