STOCKS | S&P/ASX 200 Nearly Half of Companies Beat Profit Expectations

According to Wallstreetcn, nearly half of the companies in the S&P/ASX 200 reported profits above expectations, and companies that beat estimates outnumbered those that missed by 1.5 times. Strong results pushed the country's benchmark stock index to a record high in early August before gains narrowed, leaving it up 1.1% for the month. MST Financial investment strategist Hasan Tevfik said, "We are optimistic about the market, mainly driven by outlook expectations," and added that although profit growth has not fully recovered, earnings are still expected to skew toward beats rather than misses.