U.S. second-quarter corporate earnings are outstripping estimates as companies from Apple Inc. to Coca-Cola Co. boost sales with new products and benefit from a weaker dollar, surprising analysts who predicted a bigger drag from the economy.
Earnings per share jumped 19 percent from a year earlier for the 122 companies in the Standard & Poor’s 500 Index that reported second-quarter results as of July 22, according to data compiled by Bloomberg. That beat the 13 percent average growth estimate that analysts held at the start of the month, and about 82 percent of the companies reporting have exceeded forecasts.
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