All 33 companies that reported S&P 500 earnings early this quarter managed to beat consensus EPS estimates. That’s not a typo. A perfect 33 for 33.

For context, the typical EPS beat rate over the past five to ten years hovers around 76-78%. Hitting 100% on the first batch of reporters is the corporate earnings equivalent of bowling a 300 in your opening frame of the season.

The numbers behind the streak

According to FactSet data, roughly 88-89% of early-reporting S&P 500 companies had delivered positive EPS surprises as of July 10. Aggregate earnings exceeded analyst projections by approximately 14.5%.

The blended earnings growth forecast for Q2 2026 now sits at approximately 23.3-23.6% year-over-year.

Technology and energy sectors are expected to lead the charge this quarter, driving the bulk of that 23%+ growth figure. The formal earnings season kicked off the week of July 13, with the large banks among the first major names to step up to the plate.

Why this matters beyond Wall Street

But the sample size caveat is real. Thirty-three companies out of 500 is less than 7% of the index. The early reporters tend to skew toward certain sectors and company profiles that don’t necessarily represent the full picture. The real test comes over the next three to four weeks as mega-cap tech, financials, healthcare, and consumer discretionary names all weigh in.

What crypto investors should be watching

What matters most for crypto from this earnings season isn’t the aggregate numbers. It’s the commentary from specific companies with digital asset exposure: payment processors discussing stablecoin volumes, tech companies revealing AI-crypto infrastructure investments, and financial firms disclosing their custody and trading revenues.