This has been one of the strongest earnings seasons in years: 84.5% of S&P 500 companies have beaten profit expectations so far for Q3 2025, on track for the best performance since Q2 2021. That would mark the 3rd consecutive quarterly increase. Earnings beats are coming from a variety of sectors, including financial, automotive, and consumer. This comes as 21% of S&P 500 firms have reported their results so far. Earnings momentum is improving.(The Kobeissi Letter)