S&P 500 corporate earnings grew 50.4% year-over-year, marking the seventh consecutive quarter of double-digit growth

Odaily Planet Daily reported that The Kobeissi Letter stated on the X platform that we may currently be in the midst of one of the largest technological revolutions in American history. To date, 88% of S&P 500 component companies have released their earnings reports, with the index's corporate earnings growing 50.4% year-over-year, far exceeding the market's previous expectation of 23.1%. This will mark the second consecutive quarter of over 25% earnings growth for the S&P 500, and the seventh consecutive quarter of double-digit earnings growth.

The Kobeissi Letter noted that the last time the S&P 500 saw similarly strong earnings growth was in the second quarter of 2021, when the U.S. economy was in its post-pandemic recovery phase, accompanied by over $4 trillion in fiscal stimulus.