This 1 Company Is By Far the Largest Contributor to Second-Quarter S&P 500 Earnings Growth

Alphabet delivered a massive earnings beat with $9.11 EPS versus $2.90 expected, becoming the largest contributor to S&P 500 earnings growth for Q2. However, much of the beat ($98 billion) came from unrealized gains on equity holdings, particularly a $94 billion gain on its SpaceX stake following the company's June IPO. Without Alphabet's performance, S&P 500 earnings growth would drop from 37.9% to 25.9%. Alphabet also holds a substantial stake in AI company Anthropic, which could see significant gains when it goes public.