Revenue forecasts haven't been as far off the mark as EPS views. Top lines are coming in about as anticipated, but companies are beating on margins. At the start of the season, analysts expected sales to drop 0.9% from 4Q19, but early reports put the index on track to slip 0.4%. About three-quarters of reports have been better than expected, but by a slim amount. Financials beat by the most so far, but remain on track to decline, even with SVB Financial's 40% upside. IBM and United Airlines missed estimates.
Excluding energy, the S&P 500 is on track for a second consecutive quarter of sales growth. #stocktalk
Excluding energy, the S&P 500 is on track for a second consecutive quarter of sales growth. #stocktalk