Estimize | Oct 21, 2014 12:16AM ET
And just as quickly as dismal IBM results were able to drag down tech sector growth, a better-than-expected report out from Chipotle Mexican Grill (NYSE:CMG) was another standout among the after-the-bell reports. The fast-casual restaurant chain posted EPS of $4.15, $0.28 higher than the Estimize consensus and $0.29 higher than what the Street was expecting, growing 56% YoY. Revenues of $1.08B were just slightly above expectations. Despite the impressive results, shares of Chipotle fell 2% in after-hours trading, as the chain warned that increased food prices would impact the bottom-line. Higher beef, avocado and dairy prices in particular are expected to contribute to higher food costs for the chain.
Earnings season rolls on later today as we get results from big names such as McDonald's (NYSE:MCD), Verizon (NYSE:VZ), Yahoo! (NASDAQ:YHOO) and Coca-Cola (NYSE:KO), to name a few. There are still 115 companies from the S&P 500 scheduled to report this week.
h2 How Are We Doing?/h2Expectations for S&P 500 earnings growth for the third quarter stand at 9.5%. Revenues are anticipated to come in with 4.4% growth. All 10 sectors are anticipated to post positive YoY growth on both the earnings and revenue front.
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Revenues:
Earnings:
Revenues:
Earnings: 91 companies have reported thus far, 50% have beaten the Estimize consensus, 38% have missed and 12% have met. This is compared to Wall Street estimates, of which 62% of companies have beat on the bottom-line, 30% have missed and 8% have met.
Revenue: 54% have beaten the Estimize consensus, 46% have missed, and 0% have met. For revenues, 63% of companies have beat the Wall Street estimate, while 38% have missed.
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