Corporate America’s initial stretch of earnings releases delivered results that surpassed the historical norm for the quarter’s kickoff, paving the way for a “solid” season, according to Bank of America Corp.
After last week’s announcements, 30 S&P 500 Index companies accounting for an 11% sliver of earnings have reported, the bank said in a note Monday. The group, highlighted by banking titans including JPMorgan Chase & Co., saw 77% of firms beating on earnings per share, according to BofA. While that’s down from last quarter’s 90% for the comparable span, it exceeds the historical level of 67%.
Read More : Bank of America Reports Earnings Season Starts with Strong Performance