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Investors Business Daily
Investors Business Daily
Business
MATT KRANTZ

7 Stocks' Revenue Totally Smashes All Expectations

It may be earnings season for the S&P 500 — but revenue is on top of many investors' minds. And some companies are showing top lines that top all views.

Seven stocks in the S&P 500, including biotech Moderna, financial Northern Trust and miner Freeport-McMoRan, reported second-quarter revenue that topped expectations by 10% or more, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge.

And that's a welcome surprise.

S&P 500 Revenue Beats Are Small So Far

Companies in the S&P 500 are only topping expectations by 1.1% so far in the second quarter, says John Butters of FactSet. And all told, S&P 500 earnings are only 5% higher than the second quarter of last year.

Contrast those statistics against bank Northern Trust. The company in the second quarter posted revenue of $2.7 billion. That's up more than 53% from the same period a year ago. And that topped analysts' expectations by more than 48%.

Moderna is a slightly different situation. The vaccine maker's top line beat forecasts by more than 78% in the quarter. But it's still suffering a hangover from the post-Covid drop-off in business. Its revenue in the second quarter topped $241 million. But that's down nearly 30% from the same year-ago period.

But still, it's good to see plenty of upside surprises for revenue.

Biggest S&P 500 Revenue Upside Surprises

For the second quarter of 2024 so far

Company Name Ticker Revenue beat %
Moderna MRNA 78.6%
Northern Trust NTRS 48.1
APA APA 21.8
Aflac AFL 19.1
DTE Energy DTE 16.8
Public Service Enterprise PEG 11.8
Freeport-McMoRan FCX 10.1
Sources: S&P Global Market Intelligence, IBD
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