Companies Are Beating Earnings Estimates at Historic Clip: Chart

(Bloomberg) -- It’s been a banner earnings season so far, at least compared to expectations. Whether it’s the U.S. tax cut or just poor forecasting by analysts, members of the S&P 500 Index have been delivering profits above estimates at the best pace on record -- with 80 percent of members topping forecasts so far. Price reaction to the positive earnings has been less than stellar, with a paltry .25 percent return since JPMorgan Chase & Co. kicked off the season on April 13.

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