July 23, 2025
Second quarter 2025 earnings are off to a solid start. With 12% of S&P 500 companies having reported so far, 83% have beaten both earnings and revenue expectations. The blended year on year earnings growth rate is 5.6% so far. If the rest of the index reports in line with this trend, it will mark the eighth straight quarter of S&P 500 earnings growth, though the slowest since late 2023.