Q3 – smaller earnings beat than previous 4 quarters….
1. 73% are beating 3Q earnings and 58% are beating revenue estimates

2. Earnings have surprised to the upside by 2.5% (vs. 3.2% through past 4Qs)

3. For companies that have reported so far, 3Q Revenue Growth is around 3.7% (vs. expected 3.3%) and Net Income Growth is -1.8% (vs. expected -4.1%)

based on 41% of S&P 500 companies that have reported so far