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As of now, 222 S&P 500 companies have reported Q3 earnings, showing a 10.7% increase in total earnings year-over-year alongside an 8% rise in revenues. Among these, 83.8% surpassed EPS estimates, and 77.9% exceeded revenue forecasts, with 68.5% beating both metrics.
The net income margin for these companies stands at 12.27%, slightly higher than last year’s 11.97%. Unlike previous quarters, recent revisions for Q3 estimates have been positive, contributing to the elevated beat percentages.
In the auto sector, which includes companies like Ford, General Motors, and Tesla, 57.1% have reported a collective earnings drop of 23.9% year-over-year despite a 4.2% revenue increase. Specific declines include a 39.5% drop for Tesla, 19.3% for GM, and 7% for Ford, highlighting challenges despite positive market reactions.
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