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

## What this measures

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

## Why it matters

Revenue beats are harder to engineer than EPS beats. When this falls while EPS beats hold, margins are being defended, not grown.

## How to read it

A rise means more S&P 500 firms exceeded revenue expectations in the trailing 90 days; a fall means fewer did. Compare this share to the equivalent measure for earnings-per-share beats to see whether firms are growing the top line or relying on margin management. A reading above 50 percent means most reporters beat consensus.

## What it does not say

This does not say how large the surprises were or whether revenue itself grew. It also does not distinguish whether beats reflected stronger demand, analyst conservatism, or timing of report dates within the window.

## 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.