Earnings: S&P 500 company profits so far below 5-year average

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Yahoo Finance Live’s Brian Sozzi breaks down the stat of the day.

Video Transcript

BRIAN SOZZI: All right, it’s early in the earnings season. The profit beats aren’t exactly coming in hot and heavy, as companies grapple with surging inflation and a slowing economy. About 60% of S&P 500 companies that have reported earnings have delivered a positive profit surprise for the second quarter. That is below the five-year average of 77%, point out the folks at FactSet.