Earnings Beat Share · EPS (S&P 500, trailing 90d)

## What this measures

Companies with positive EPS surprise ÷ companies reported, trailing 90 days.

## Why it matters

Breadth of beats, not the size of them — read against Discourse guidance posture for the gap between what was promised and what was delivered.

## How to read it

A rise means a larger share of reporting companies exceeded analyst expectations for earnings per share; a fall means fewer did. The measure reflects breadth across the index, not the magnitude of any surprise. Compare it to guidance tone to see whether beats follow optimistic or pessimistic management commentary.

## What it does not say

It does not capture the size of surprises, only their direction. It does not distinguish whether beats stem from strong results or low expectations.

## Source

Reported results compared with analyst consensus estimates, received through a licensed market data provider.

## Revision — 2026-09-26

Universe updated to current S&P 500 constituents (8 out, 3 in). Out: Builders FirstSource, Molson Coors and The Trade Desk, which left the index on 21 September 2026; Electronic Arts, which was taken private and left on 5 August 2026; and MongoDB, Cloudflare, Snowflake and Zoom, which were never members and had been included in error since May 2026. In: Bloom Energy, Everpure and Illumina, which joined on 21 September 2026. Membership now comes from a dated constituent list refreshed monthly. The corrected list applies from 26 September 2026. Readings before that date are unchanged.

## Revision — 2026-10-09

The reading now counts S&P 500 members on each date only. From 22 September to 8 October 2026 it also counted a few Russell 1000 companies outside the S&P 500; those 12 readings were recomputed, moving by at most half a point.