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Chart of the Week
Yearning for Earnings
US earnings results have generally remained resilient in 2Q 2022 despite a strong US dollar weighing on revenues. With 56% of companies having reported, 52% have beaten consensus earnings estimates by more than one standard deviation, above the historical average of 47%. While corporate earnings strength may moderate given higher inflation and rates, we continue to favor companies that can maintain profitability and stable earnings growth.
Source: Goldman Sachs Global Investment Research. As of July 29, 2022.