But fewer than half of companies are beating analysts' estimates for sales, known as the top line.

WSJ: S&P 500 Closes at a Record

Lawrence Brown, of Georgia State University, has calculated that from 1984 to 1997, there was a tripling in the number of firms beating analysts' estimates relative to those falling short.

ECONOMIST: Financial analysts

Bank earnings continue to top Street estimates with Bank of America and Goldman Sachs both beating analysts' forecasts this morning.

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