According to CoinMeta, the earnings growth rate of S&P 500 companies is only 2.7%, which is the lowest in four years, despite 84% of the companies exceeding analysts' expectations. According to FactSet data, as of November 6th, among the S&P 500 companies that reported third-quarter results, 88% had released their earnings, and 84% of those exceeded earnings per share expectations. Although the proportion of companies with earnings exceeding expectations is high, the overall extent of earnings exceeding expectations is significantly lower than the five-year average of 7.5%. Despite the smaller margin of earnings surprises, overall corporate earnings are still expanding rapidly. FactSet predicts that the annual earnings growth of the S&P 500 will reach 31.4%.