WASHINGTON (dpa-AFX) - Under President Donald Trump's bold pro-growth policies, American businesses are thriving like never before - shattering earnings forecasts and propelling the stock market to continued record highs, the White House says.
Aggregate S&P 500 earnings per share are up 11 percent over last year, almost three times higher than the consensus expectation, it said in an artice published on Monday.
84 percent of companies have beaten Wall Street estimates - the highest share in nearly four years.
60 percent of companies 'have beaten earnings per share forecasts by more than a standard deviation of estimates,' according to Goldman Sachs.
Goldman Sachs' chief U.S. equity strategist David Kostin says S&P 500 earnings have surged past expectations.
'The quarter has been marked by one of the greatest frequency of earnings beats on record'.
58 percent of companies increased their full-year guidance for the year, doubling the number from the first quarter.
The S&P 500 is up nearly 10 percent so far this year, hitting one new record high after another.
White House noted that mentions of the word 'recession' in corporate earnings calls are down 84 percent compared to last quarter.
Companies are citing President Trump's landmark One Big Beautiful Bill as a key catalyst for renewed economic optimism - predicting customer growth, boosted cash flow, and accelerated investment stemming from the landmark bill's pro-growth tax reforms.
According to Business Insider, S&P 500 companies are wrapping up one of the strongest earnings seasons on record.
The Wall Street Journal reported that strong crop of earnings has eased investors' economic concerns.
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