Q3 Earnings Growth Looks Broad, but Revisions Weaken

Q3 earnings growth is estimated at 28.4% on 14.4% revenue growth, with 15 of 16 sectors positive. Recent revisions have weakened and Q4 estimates have fallen in 12 sectors; MetLife’s strong adjusted EPS growth included unusually high investment income, while Berkshire’s large buyback coincided with weaker operating earnings.