Twenty-five healthcare firms reported their earnings in the week ended August 31, bringing the sector’s overall reporting progress to 60% so far this quarter.
This week, the Health Care Select Sector SPDR Fund ETF (XLV) declined 1.41%.
**Quick Insights**
Most healthcare firms beat both earnings and revenue estimates, with 94% surpassing earnings forecasts and 88.8% exceeding revenue expectations. AbbVie and UnitedHealth both beat Q3 expectations and raised their full-year earnings guidance. However, AbbVie’s new forecast remains below the consensus.
While XLV is up nearly 6% quarter-to-date, it is still lagging behind the returns of the S&P 500 index.
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