Goldman Sachs: S&P 500 profits exceed expectations, companies respond to tariffs, and the weakening of the US dollar provides support According to a report by Golden Finance, a strategist from Goldman Sachs Group stated that companies in the S&P 500 index have far exceeded expectations in this earnings season due to finding ways to mitigate the impact of tariffs and benefit from the weakening of the US dollar. As the second quarter earnings season draws to a close, the overall earnings per share of S&P 500 companies increased by 11% year-on-year, far exceeding the market consensus expectation of 4%. This quarter has set one of the most frequent instances of earnings exceeding expectations in history, "wrote David Kostin, Chief Equity Strategist at Goldman Sachs in the United States, in a report. American companies have performed better than expected in terms of profit margins when facing tariffs, as they are able to negotiate with suppliers, adjust their supply chains, cut costs, and pass on price increases to consumers. In addition, analysts significantly lowered their profit expectations in the spring due to Trump's tariffs, making it easier for companies to achieve "beyond expectations" at a low base. Goldman Sachs strategists said that the weakening of the US dollar also accelerated sales growth in the second quarter.