<!-- Swiftype Variables -->


Energy companies miss on Q2 revenue, still strong over the year

Among the companies that have reported second-quarter 2018 earnings, those in the materials and industrials sector topped consensus revenue estimates most consistently, while energy and REITs most consistently fell behind estimates. In aggregate, 77% of companies reporting second-quarter revenue have beaten estimates; the combined dollar value of those revenues has been about 1.4% higher than expectations.

The index got a boost from financials, industrials and technology stocks on a year-over-year basis.

Data released by FactSet show that 100% of the energy companies in the S&P 500 missed revenue estimates, while the revenue per share continues to recover from 2015's steep decline. Revenue grew 1.2% during the second quarter after advancing 3% in the first quarter. Oil prices over the second quarter were volatile, ranging between $64 and $74, failing to show much consistency above the $70 mark. Despite the sector's weak second-quarter showing, it has been the index's fastest growing sector by revenue at 20.8% over the past year.