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Drug Stocks Q2 Earnings Releases on Aug 1: PFE, AERI & INCY

We have already crossed the halfway mark of the second-quarter reporting cycle. The earning season has shown broad-based growth with record earnings this quarter.

As of Jul 28, 2017, 286 S&P 500 members, accounting for 68.8% of the index’s total market capitalization, reported results, according to Earnings Preview. Of these, 57.7% companies beat both on both counts compared with 55.6% in the first quarter.

Total earnings for these 286 index members were up 11.3% from the year-ago quarter on a 6.1% improvement in revenues. The beat ratio was 74.5% for earnings and 69.2% for revenues. The Medical segment has also performed well so far with earnings up 6% on 4.7% increase in revenues.

Per the report, total earnings for S&P 500 companies in the second quarter are expected to grow 9.2% year over year on 5% higher revenues. With plenty of results still to come, the actual earnings growth this quarter may exceed the 10% mark. This follows 13.3% earnings growth in the...