FactSet Earnings Insight - 13-November

FactSet Senior Earnings Analyst John Butters provides an update of the key metrics for the third quarter earnings season for the S&P 500. Overall, with 92% of the companies in the S&P 500 reporting actual results for Q3, 84% have reported actual EPS above estimates. John also discusses the price reaction to these positive earnings surprises reported by S&P 500 companies for the quarter. It appears the price movements for S&P 500 companies reporting positive EPS surprises were less related to earnings performance and more related to broader market themes such as the election (uncertainty before the election and more certainty after the election) and COVID-19 (rising cases before the election but news of potential vaccines after the election).