{"id":206642,"date":"2025-07-28T13:25:33","date_gmt":"2025-07-28T17:25:33","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/uncategorized\/earnings-season-thus-far\/"},"modified":"2025-07-31T12:42:35","modified_gmt":"2025-07-31T12:42:35","slug":"earnings-season-thus-far","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/","title":{"rendered":"Earnings Season Thus Far"},"content":{"rendered":"\n

It became clear last week that earnings season is upon us, with several key stocks reporting.  This week promises to be even more consequential, with the largest amount of S&P 500 companies reporting \u2013 including four of the \u201cMag 7\u201d stocks.  We ran some numbers to see how the market has been responding thus far.<\/p>\n\n\n\n

From July 1st<\/sup> through Friday, July 25th<\/sup>, 150 of the S&P 500 (SPX) constituents have reported their earnings.  That constitutes exactly 30% of the index components.  Yet when we calculated the approximate index weights of the companies that have reported thus far, we found that their cumulative weights only comprise about 27.5% of the index.  An exercise of this sort reminded me just how top-heavy the index is.  That is an important consideration when four of the five largest index components, comprising just under 20% of SPX\u2019 weight, release earnings this week.  They are of course Microsoft (MSFT, #2), Apple (AAPL, #3), Amazon (AMZN, #4), and Meta Platforms (META, #6).  (Nvidia (NVDA, #1) reports in about a month and Alphabet (GOOG, GOOGL, combined #5) reported last week)<\/p>\n\n\n\n

For further perspective, the arithmetic average of the index weights of the companies that reported since July 1st<\/sup> is about .183%, but the median is 0.09%.  That means that 75 of the 150 companies in the analysis have index weights of 0.09% or less. For perspective, the weights of the largest companies to report this month are GOOG+GOOGL at 3.75%, Tesla (TSLA) at 1.63%, and JPMorgan Chase (JPM) at 1.53%.  This is why we calculated weighted averages after doing the first pass on the raw numbers.<\/p>\n\n\n\n

We always hear how some huge majority of stocks reported better than expected earnings.  It\u2019s not really news when 75-85% of companies beat their published consensus estimates in any given quarter.  It says as much about how well companies manage their analysts as much as it does about how well they manage their businesses.<\/p>\n\n\n\n

As a result, we focused upon the market\u2019s reaction instead.  We used the post-earnings moves \u2013 later that day for morning releases, the next-day for afternoon releases \u2013 as the basis for comparison.<\/p>\n\n\n\n

The raw numbers say that the results so far are pretty good.  Of the 150 companies in the survey, 83 of them, or 55.3%, rose after they reported earnings.  The average move was +0.42%, with a median of +0.935%.  Not bad at all.<\/p>\n\n\n\n

The values changed when we adjusted for each company\u2019s weight in SPX.  The average post-earnings move reverted to a slight loss of -0.087%, though the median was still positive at 0.053%. <\/p>\n\n\n\n

This bears watching. My interpretation is that the more heavily scrutinized the company, the higher the unstated expectations \u2013 the \u201cwhisper numbers\u201d, so to speak.  Think about the market\u2019s reaction to GOOGL earnings.  They beat on every measure, yet the stock only rose about 1%.  Meanwhile, a whole bunch of relatively obscure stocks \u2013 at least to average investors \u2013 did quite well after positive surprises.  The bar is higher for the most highly valued companies \u2013 something to keep in mind ahead of this week\u2019s key results. <\/p>\n\n\n\n

Post-earnings Results of SPX Companies Reporting June 1-25, 2025<\/p>\n\n\n\n

<\/td><\/td>Post-Earnings<\/td>Approximate<\/td> % Change x<\/td><\/td><\/tr>
Symbol<\/td>Release Date<\/td>% Change<\/td>SPX Weight<\/td>% Weight<\/td><\/td><\/tr>
STZ<\/td>7\/1\/2025<\/td>4.48<\/td>0.05<\/td>0.224<\/td><\/td><\/tr>
CAG<\/td>7\/10\/2025<\/td>-4.37<\/td>0.02<\/td>-0.087<\/td><\/td><\/tr>
DAL<\/td>7\/10\/2025<\/td>11.99<\/td>0.07<\/td>0.839<\/td><\/td><\/tr>
FAST<\/td>7\/14\/2025<\/td>4.16<\/td>0.10<\/td>0.416<\/td><\/td><\/tr>
BK<\/td>7\/15\/2025<\/td>-0.09<\/td>0.13<\/td>-0.012<\/td><\/td><\/tr>
BLK<\/td>7\/15\/2025<\/td>-5.88<\/td>0.30<\/td>-1.764<\/td><\/td><\/tr>
JBHT<\/td>7\/15\/2025<\/td>1.73<\/td>0.02<\/td>0.035<\/td><\/td><\/tr>
OMC<\/td>7\/15\/2025<\/td>4.62<\/td>0.03<\/td>0.139<\/td><\/td><\/tr>
STT<\/td>7\/15\/2025<\/td>-7.29<\/td>0.06<\/td>-0.437<\/td><\/td><\/tr>
JPM<\/td>7\/15\/2025<\/td>-0.74<\/td>1.53<\/td>-1.132<\/td><\/td><\/tr>
WFC<\/td>7\/15\/2025<\/td>-5.48<\/td>0.50<\/td>-2.740<\/td><\/td><\/tr>
C<\/td>7\/15\/2025<\/td>3.68<\/td>0.33<\/td>1.214<\/td><\/td><\/tr>
KMI<\/td>7\/16\/2025<\/td>-1.50<\/td>0.10<\/td>-0.150<\/td><\/td><\/tr>
PGR<\/td>7\/16\/2025<\/td>1.76<\/td>0.27<\/td>0.475<\/td><\/td><\/tr>
PLD<\/td>7\/16\/2025<\/td>1.43<\/td>0.19<\/td>0.272<\/td><\/td><\/tr>
UAL<\/td>7\/16\/2025<\/td>3.11<\/td>0.05<\/td>0.156<\/td><\/td><\/tr>
BAC<\/td>7\/16\/2025<\/td>-0.26<\/td>0.58<\/td>-0.151<\/td><\/td><\/tr>
GS<\/td>7\/16\/2025<\/td>0.90<\/td>0.41<\/td>0.369<\/td><\/td><\/tr>
MS<\/td>7\/16\/2025<\/td>-1.27<\/td>0.33<\/td>-0.419<\/td><\/td><\/tr>
JNJ<\/td>7\/16\/2025<\/td>6.19<\/td>0.75<\/td>4.643<\/td><\/td><\/tr>
MTB<\/td>7\/16\/2025<\/td>-2.41<\/td>0.06<\/td>-0.145<\/td><\/td><\/tr>
PNC<\/td>7\/16\/2025<\/td>0.93<\/td>0.14<\/td>0.130<\/td><\/td><\/tr>
ABT<\/td>7\/17\/2025<\/td>-8.52<\/td>0.06<\/td>-0.511<\/td><\/td><\/tr>
CTAS<\/td>7\/17\/2025<\/td>3.69<\/td>0.14<\/td>0.517<\/td><\/td><\/tr>
ELV<\/td>7\/17\/2025<\/td>-12.22<\/td>0.12<\/td>-1.466<\/td><\/td><\/tr>
MMC<\/td>7\/17\/2025<\/td>-0.44<\/td>0.19<\/td>-0.084<\/td><\/td><\/tr>
NFLX<\/td>7\/17\/2025<\/td>-5.10<\/td>0.92<\/td>-4.692<\/td><\/td><\/tr>
PEP<\/td>7\/17\/2025<\/td>7.45<\/td>0.36<\/td>2.682<\/td><\/td><\/tr>
SNA<\/td>7\/17\/2025<\/td>7.92<\/td>0.03<\/td>0.238<\/td><\/td><\/tr>
TRV<\/td>7\/17\/2025<\/td>3.81<\/td>0.11<\/td>0.419<\/td><\/td><\/tr>
CFG<\/td>7\/17\/2025<\/td>3.94<\/td>0.04<\/td>0.158<\/td><\/td><\/tr>
FITB<\/td>7\/17\/2025<\/td>-1.02<\/td>0.05<\/td>-0.051<\/td><\/td><\/tr>
GE<\/td>7\/17\/2025<\/td>-2.22<\/td>0.53<\/td>-1.177<\/td><\/td><\/tr>
USB<\/td>7\/17\/2025<\/td>-1.03<\/td>0.13<\/td>-0.134<\/td><\/td><\/tr>
AXP<\/td>7\/18\/2025<\/td>-2.35<\/td>0.32<\/td>-0.752<\/td><\/td><\/tr>
MMM<\/td>7\/18\/2025<\/td>-3.65<\/td>0.15<\/td>-0.548<\/td><\/td><\/tr>
SCHW<\/td>7\/18\/2025<\/td>2.90<\/td>0.31<\/td>0.899<\/td><\/td><\/tr>
SLB<\/td>7\/18\/2025<\/td>-3.89<\/td>0.10<\/td>-0.389<\/td><\/td><\/tr>
HBAN<\/td>7\/18\/2025<\/td>1.59<\/td>0.05<\/td>0.080<\/td><\/td><\/tr>
RF<\/td>7\/18\/2025<\/td>6.12<\/td>0.04<\/td>0.245<\/td><\/td><\/tr>
TFC<\/td>7\/18\/2025<\/td>-1.69<\/td>0.11<\/td>-0.186<\/td><\/td><\/tr>
ARE<\/td>7\/21\/2025<\/td>3.09<\/td>0.02<\/td>0.062<\/td><\/td><\/tr>
DPZ<\/td>7\/21\/2025<\/td>-0.80<\/td>0.03<\/td>-0.024<\/td><\/td><\/tr>
ROP<\/td>7\/21\/2025<\/td>1.31<\/td>0.11<\/td>0.144<\/td><\/td><\/tr>
STLD<\/td>7\/21\/2025<\/td>-1.70<\/td>0.03<\/td>-0.051<\/td><\/td><\/tr>
WRB<\/td>7\/21\/2025<\/td>1.09<\/td>0.04<\/td>0.044<\/td><\/td><\/tr>
NXPI<\/td>7\/21\/2025<\/td>-0.12<\/td>0.10<\/td>-0.012<\/td><\/td><\/tr>
VZ<\/td>7\/21\/2025<\/td>4.04<\/td>0.33<\/td>1.333<\/td><\/td><\/tr>
AVY<\/td>7\/22\/2025<\/td>1.49<\/td>0.05<\/td>0.075<\/td><\/td><\/tr>
BKR<\/td>7\/22\/2025<\/td>11.64<\/td>0.08<\/td>0.931<\/td><\/td><\/tr>
CB<\/td>7\/22\/2025<\/td>-3.08<\/td>0.18<\/td>-0.554<\/td><\/td><\/tr>
COF<\/td>7\/22\/2025<\/td>0.94<\/td>0.25<\/td>0.235<\/td><\/td><\/tr>
CSGP<\/td>7\/22\/2025<\/td>6.86<\/td>0.07<\/td>0.480<\/td><\/td><\/tr>
DGX<\/td>7\/22\/2025<\/td>7.08<\/td>0.03<\/td>0.212<\/td><\/td><\/tr>
DHR<\/td>7\/22\/2025<\/td>0.98<\/td>0.24<\/td>0.235<\/td><\/td><\/tr>
EFX<\/td>7\/22\/2025<\/td>-8.18<\/td>0.06<\/td>-0.491<\/td><\/td><\/tr>
ENPH<\/td>7\/22\/2025<\/td>-14.16<\/td>0.01<\/td>-0.142<\/td><\/td><\/tr>
EQT<\/td>7\/22\/2025<\/td>-4.38<\/td>0.06<\/td>-0.263<\/td><\/td><\/tr>
GPC<\/td>7\/22\/2025<\/td>7.60<\/td>0.03<\/td>0.228<\/td><\/td><\/tr>
HAL<\/td>7\/22\/2025<\/td>0.99<\/td>0.04<\/td>0.040<\/td><\/td><\/tr>
IPG<\/td>7\/22\/2025<\/td>6.95<\/td>0.02<\/td>0.139<\/td><\/td><\/tr>
IQV<\/td>7\/22\/2025<\/td>17.88<\/td>0.06<\/td>1.073<\/td><\/td><\/tr>
ISRG<\/td>7\/22\/2025<\/td>-1.77<\/td>0.33<\/td>-0.584<\/td><\/td><\/tr>
IVZ<\/td>7\/22\/2025<\/td>5.20<\/td>0.02<\/td>0.104<\/td><\/td><\/tr>
KO<\/td>7\/22\/2025<\/td>-0.59<\/td>0.49<\/td>-0.289<\/td><\/td><\/tr>
LMT<\/td>7\/22\/2025<\/td>-10.81<\/td>0.16<\/td>-1.730<\/td><\/td><\/tr>
MSCI<\/td>7\/22\/2025<\/td>-8.91<\/td>0.08<\/td>-0.713<\/td><\/td><\/tr>
NOC<\/td>7\/22\/2025<\/td>9.41<\/td>0.14<\/td>1.317<\/td><\/td><\/tr>
PCAR<\/td>7\/22\/2025<\/td>6.10<\/td>0.10<\/td>0.610<\/td><\/td><\/tr>
PHM<\/td>7\/22\/2025<\/td>11.52<\/td>0.04<\/td>0.461<\/td><\/td><\/tr>
PNR<\/td>7\/22\/2025<\/td>0.01<\/td>0.03<\/td>0.000<\/td><\/td><\/tr>
RTX<\/td>7\/22\/2025<\/td>-1.58<\/td>0.39<\/td>-0.616<\/td><\/td><\/tr>
SHW<\/td>7\/22\/2025<\/td>-0.36<\/td>0.14<\/td>-0.050<\/td><\/td><\/tr>
SYF<\/td>7\/22\/2025<\/td>1.76<\/td>0.05<\/td>0.088<\/td><\/td><\/tr>
TXN<\/td>7\/22\/2025<\/td>-13.34<\/td>0.31<\/td>-4.135<\/td><\/td><\/tr>
DHI<\/td>7\/22\/2025<\/td>16.98<\/td>0.07<\/td>1.189<\/td><\/td><\/tr>
GM<\/td>7\/22\/2025<\/td>-8.12<\/td>0.09<\/td>-0.731<\/td><\/td><\/tr>
KEY<\/td>7\/22\/2025<\/td>2.35<\/td>0.03<\/td>0.071<\/td><\/td><\/tr>
PM<\/td>7\/22\/2025<\/td>-8.43<\/td>0.46<\/td>-3.878<\/td><\/td><\/tr>
BSX<\/td>7\/23\/2025<\/td>4.46<\/td>0.29<\/td>1.293<\/td><\/td><\/tr>
CCI<\/td>7\/23\/2025<\/td>3.81<\/td>0.09<\/td>0.343<\/td><\/td><\/tr>
CME<\/td>7\/23\/2025<\/td>0.67<\/td>0.19<\/td>0.127<\/td><\/td><\/tr>
CMG<\/td>7\/23\/2025<\/td>-13.34<\/td>0.12<\/td>-1.601<\/td><\/td><\/tr>
CSX<\/td>7\/23\/2025<\/td>0.09<\/td>0.12<\/td>0.011<\/td><\/td><\/tr>
FCX<\/td>7\/23\/2025<\/td>-2.10<\/td>0.12<\/td>-0.252<\/td><\/td><\/tr>
FI<\/td>7\/23\/2025<\/td>-13.85<\/td>0.14<\/td>-1.939<\/td><\/td><\/tr>
GD<\/td>7\/23\/2025<\/td>6.50<\/td>0.15<\/td>0.975<\/td><\/td><\/tr>
GEV<\/td>7\/23\/2025<\/td>14.58<\/td>0.32<\/td>4.666<\/td><\/td><\/tr>
GL<\/td>7\/23\/2025<\/td>5.38<\/td>0.02<\/td>0.108<\/td><\/td><\/tr>
GOOG<\/td>7\/23\/2025<\/td>0.88<\/td>1.68<\/td>1.478<\/td><\/td><\/tr>
GOOGL<\/td>7\/23\/2025<\/td>1.02<\/td>2.07<\/td>2.111<\/td><\/td><\/tr>
HAS<\/td>7\/23\/2025<\/td>-0.94<\/td>0.02<\/td>-0.019<\/td><\/td><\/tr>
HLT<\/td>7\/23\/2025<\/td>-2.55<\/td>0.12<\/td>-0.306<\/td><\/td><\/tr>
LII<\/td>7\/23\/2025<\/td>6.59<\/td>0.04<\/td>0.264<\/td><\/td><\/tr>
LW<\/td>7\/23\/2025<\/td>16.31<\/td>0.02<\/td>0.326<\/td><\/td><\/tr>
MCO<\/td>7\/23\/2025<\/td>1.76<\/td>0.15<\/td>0.264<\/td><\/td><\/tr>
MOH<\/td>7\/23\/2025<\/td>-16.84<\/td>0.02<\/td>-0.337<\/td><\/td><\/tr>
NEE<\/td>7\/23\/2025<\/td>-6.09<\/td>0.27<\/td>-1.644<\/td><\/td><\/tr>
NOW<\/td>7\/23\/2025<\/td>4.16<\/td>0.37<\/td>1.539<\/td><\/td><\/tr>
NVR<\/td>7\/23\/2025<\/td>-0.12<\/td>0.04<\/td>-0.005<\/td><\/td><\/tr>
ORLY<\/td>7\/23\/2025<\/td>2.87<\/td>0.15<\/td>0.431<\/td><\/td><\/tr>
OTIS<\/td>7\/23\/2025<\/td>-12.38<\/td>0.07<\/td>-0.867<\/td><\/td><\/tr>
PKG<\/td>7\/23\/2025<\/td>-0.19<\/td>0.03<\/td>-0.006<\/td><\/td><\/tr>
ROL<\/td>7\/23\/2025<\/td>5.20<\/td>0.03<\/td>0.156<\/td><\/td><\/tr>
T<\/td>7\/23\/2025<\/td>1.20<\/td>0.37<\/td>0.444<\/td><\/td><\/tr>
TDY<\/td>7\/23\/2025<\/td>-1.69<\/td>0.05<\/td>-0.085<\/td><\/td><\/tr>
TEL<\/td>7\/23\/2025<\/td>11.95<\/td>0.11<\/td>1.315<\/td><\/td><\/tr>
TMO<\/td>7\/23\/2025<\/td>9.14<\/td>0.33<\/td>3.016<\/td><\/td><\/tr>
TMUS<\/td>7\/23\/2025<\/td>5.80<\/td>0.21<\/td>1.218<\/td><\/td><\/tr>
TSLA<\/td>7\/23\/2025<\/td>-8.20<\/td>1.63<\/td>-13.366<\/td><\/td><\/tr>
URI<\/td>7\/23\/2025<\/td>8.96<\/td>0.11<\/td>0.986<\/td><\/td><\/tr>
IBM<\/td>7\/23\/2025<\/td>-7.62<\/td>0.44<\/td>-3.353<\/td><\/td><\/tr>
LUV<\/td>7\/23\/2025<\/td>-11.16<\/td>0.03<\/td>-0.335<\/td><\/td><\/tr>
RJF<\/td>7\/23\/2025<\/td>3.71<\/td>0.06<\/td>0.223<\/td><\/td><\/tr>
APH<\/td>7\/23\/2025<\/td>-1.05<\/td>0.23<\/td>-0.242<\/td><\/td><\/tr>
NTRS<\/td>7\/23\/2025<\/td>-1.82<\/td>0.05<\/td>-0.091<\/td><\/td><\/tr>
ALLE<\/td>7\/24\/2025<\/td>6.03<\/td>0.03<\/td>0.181<\/td><\/td><\/tr>
AMP<\/td>7\/24\/2025<\/td>-3.70<\/td>0.09<\/td>-0.333<\/td><\/td><\/tr>
AOS<\/td>7\/24\/2025<\/td>3.59<\/td>0.02<\/td>0.072<\/td><\/td><\/tr>
BX<\/td>7\/24\/2025<\/td>3.58<\/td>0.24<\/td>0.859<\/td><\/td><\/tr>
CNP<\/td>7\/24\/2025<\/td>1.94<\/td>0.05<\/td>0.097<\/td><\/td><\/tr>
DECK<\/td>7\/24\/2025<\/td>11.35<\/td>0.03<\/td>0.341<\/td><\/td><\/tr>
DLR<\/td>7\/24\/2025<\/td>1.17<\/td>0.10<\/td>0.117<\/td><\/td><\/tr>
DOC<\/td>7\/24\/2025<\/td>-6.73<\/td>0.02<\/td>-0.135<\/td><\/td><\/tr>
DOV<\/td>7\/24\/2025<\/td>-2.24<\/td>0.05<\/td>-0.112<\/td><\/td><\/tr>
EW<\/td>7\/24\/2025<\/td>5.54<\/td>0.09<\/td>0.499<\/td><\/td><\/tr>
HON<\/td>7\/24\/2025<\/td>-6.18<\/td>0.27<\/td>-1.669<\/td><\/td><\/tr>
INTC<\/td>7\/24\/2025<\/td>-8.53<\/td>0.17<\/td>-1.450<\/td><\/td><\/tr>
KDP<\/td>7\/24\/2025<\/td>0.21<\/td>0.08<\/td>0.017<\/td><\/td><\/tr>
LH<\/td>7\/24\/2025<\/td>6.86<\/td>0.04<\/td>0.274<\/td><\/td><\/tr>
LHX<\/td>7\/24\/2025<\/td>1.34<\/td>0.09<\/td>0.121<\/td><\/td><\/tr>
MHK<\/td>7\/24\/2025<\/td>4.22<\/td>0.01<\/td>0.042<\/td><\/td><\/tr>
NDAQ<\/td>7\/24\/2025<\/td>5.91<\/td>0.07<\/td>0.414<\/td><\/td><\/tr>
NEM<\/td>7\/24\/2025<\/td>6.89<\/td>0.13<\/td>0.896<\/td><\/td><\/tr>
POOL<\/td>7\/24\/2025<\/td>3.00<\/td>0.02<\/td>0.060<\/td><\/td><\/tr>
TSCO<\/td>7\/24\/2025<\/td>-0.47<\/td>0.06<\/td>-0.028<\/td><\/td><\/tr>
TXT<\/td>7\/24\/2025<\/td>-7.20<\/td>0.03<\/td>-0.216<\/td><\/td><\/tr>
UNP<\/td>7\/24\/2025<\/td>-4.54<\/td>0.25<\/td>-1.135<\/td><\/td><\/tr>
VLO<\/td>7\/24\/2025<\/td>-4.88<\/td>0.08<\/td>-0.390<\/td><\/td><\/tr>
VRSN<\/td>7\/24\/2025<\/td>6.67<\/td>0.05<\/td>0.334<\/td><\/td><\/tr>
WAB<\/td>7\/24\/2025<\/td>-6.38<\/td>0.06<\/td>-0.383<\/td><\/td><\/tr>
WST<\/td>7\/24\/2025<\/td>22.78<\/td>0.03<\/td>0.683<\/td><\/td><\/tr>
WY<\/td>7\/24\/2025<\/td>3.08<\/td>0.04<\/td>0.123<\/td><\/td><\/tr>
DOW<\/td>7\/24\/2025<\/td>-17.45<\/td>0.03<\/td>-0.524<\/td><\/td><\/tr>
LKQ<\/td>7\/24\/2025<\/td>-17.82<\/td>0.02<\/td>-0.356<\/td><\/td><\/tr>
CNC<\/td>7\/25\/2025<\/td>6.09<\/td>0.03<\/td>0.183<\/td><\/td><\/tr>
AON<\/td>7\/25\/2025<\/td>4.57<\/td>0.15<\/td>0.686<\/td><\/td><\/tr>
CHTR<\/td>7\/25\/2025<\/td>-18.49<\/td>0.05<\/td>-0.925<\/td><\/td><\/tr>
PSX<\/td>7\/25\/2025<\/td>0.52<\/td>0.09<\/td>0.047<\/td><\/td><\/tr>
HCA<\/td>7\/25\/2025<\/td>-2.10<\/td>0.11<\/td>-0.231<\/td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
AVERAGE<\/td>0.424<\/td>0.183<\/td>-0.087<\/td><\/td><\/tr>
UP Moves<\/td>83<\/td>150<\/td>83<\/td>55.33%<\/td><\/tr>
Total<\/td>150<\/td>150<\/td>150<\/td><\/td><\/tr>
Median<\/td>0.935<\/td>0.090<\/td>0.053<\/td><\/td><\/tr>
Std Dev<\/td>7.07<\/td>0.30<\/td>1.59<\/td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source: Interactive Brokers, Bloomberg<\/p>\n\n\n\n

Past performance is not indicative of future results<\/p>\n","protected":false},"excerpt":{"rendered":"

It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with the largest amount of S&P 500 companies reporting \u2013 including four of the \u201cMag 7\u201d stocks.\u00a0 We ran some numbers to see how the market has been responding thus far.<\/p>\n","protected":false},"author":4,"featured_media":8019,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[145,147,8,12,153,148,7],"tags":[],"contributors-categories":[149],"class_list":{"0":"post-206642","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nEarnings Season Thus Far | Traders' Insight<\/title>\n<meta name=\"description\" content=\"It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/206642\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Season Thus Far\" \/>\n<meta property=\"og:description\" content=\"It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with the largest amount of S&P 500 companies reporting \u2013 including four of the \u201cMag 7\u201d stocks.\u00a0 We ran some numbers to see how the market has been responding thus far.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-28T17:25:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-31T12:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"Article\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Steve Sosnick\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t },\n\t \"headline\": \"Earnings Season Thus Far\",\n\t \"datePublished\": \"2025-07-28T17:25:33+00:00\",\n\t \"dateModified\": \"2025-07-31T12:42:35+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/\"\n\t },\n\t \"wordCount\": 843,\n\t \"commentCount\": 0,\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2023\\\/11\\\/earnings_season_Featured-img.jpg\",\n\t \"articleSection\": [\n\t \"IBKR Insights\",\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Stocks\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"CommentAction\",\n\t \"name\": \"Comment\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/\",\n\t \"name\": \"Earnings Season Thus Far - IBKR Campus EU\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2023\\\/11\\\/earnings_season_Featured-img.jpg\",\n\t \"datePublished\": \"2025-07-28T17:25:33+00:00\",\n\t \"dateModified\": \"2025-07-31T12:42:35+00:00\",\n\t \"author\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t },\n\t \"description\": \"It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with the largest amount of S&P 500 companies reporting \u2013 including four of the \u201cMag 7\u201d stocks.\u00a0 We ran some numbers to see how the market has been responding thus far.\",\n\t \"breadcrumb\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#breadcrumb\"\n\t },\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2023\\\/11\\\/earnings_season_Featured-img.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2023\\\/11\\\/earnings_season_Featured-img.jpg\",\n\t \"width\": 1000,\n\t \"height\": 563,\n\t \"caption\": \"Markets, graphic.\"\n\t },\n\t {\n\t \"@type\": \"BreadcrumbList\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/stocks\\\/earnings-season-thus-far\\\/#breadcrumb\",\n\t \"itemListElement\": [\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 1,\n\t \"name\": \"Home\",\n\t \"item\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/\"\n\t },\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 2,\n\t \"name\": \"Earnings Season Thus Far\"\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus EU\",\n\t \"description\": \"\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Person\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t \"name\": \"Steve Sosnick\",\n\t \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t \"sameAs\": [\n\t \"https:\\\/\\\/ibkr.com\"\n\t ],\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Earnings Season Thus Far | Traders' Insight","description":"It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/206642\/","og_locale":"en_US","og_type":"article","og_title":"Earnings Season Thus Far","og_description":"It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with the largest amount of S&P 500 companies reporting \u2013 including four of the \u201cMag 7\u201d stocks.\u00a0 We ran some numbers to see how the market has been responding thus far.","og_url":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/","og_site_name":"IBKR Campus EU","article_published_time":"2025-07-28T17:25:33+00:00","article_modified_time":"2025-07-31T12:42:35+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Earnings Season Thus Far","datePublished":"2025-07-28T17:25:33+00:00","dateModified":"2025-07-31T12:42:35+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/"},"wordCount":843,"commentCount":0,"image":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg","articleSection":["IBKR Insights","North America","Region","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/","url":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/","name":"Earnings Season Thus Far - IBKR Campus EU","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg","datePublished":"2025-07-28T17:25:33+00:00","dateModified":"2025-07-31T12:42:35+00:00","author":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"description":"It became clear last week that earnings season is upon us, with several key stocks reporting.\u00a0 This week promises to be even more consequential, with the largest amount of S&P 500 companies reporting \u2013 including four of the \u201cMag 7\u201d stocks.\u00a0 We ran some numbers to see how the market has been responding thus far.","breadcrumb":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#primaryimage","url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg","width":1000,"height":563,"caption":"Markets, graphic."},{"@type":"BreadcrumbList","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/stocks\/earnings-season-thus-far\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.interactivebrokers.eu\/campus\/"},{"@type":"ListItem","position":2,"name":"Earnings Season Thus Far"}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.eu\/campus\/#website","url":"https:\/\/ibkrcampus.eu\/campus\/","name":"IBKR Campus EU","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.eu\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.eu\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2023\/11\/earnings_season_Featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/206642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/comments?post=206642"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/206642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media\/8019"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media?parent=206642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/categories?post=206642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/tags?post=206642"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/contributors-categories?post=206642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}