According to online reports, Goldman Sachs Group strategists said that companies in the S & P 500 index had far exceeded expectations this earnings season because they found ways to weaken the impact of tariffs and benefited from the weakening of the US dollar. As the second-quarter earnings season draws to a close, the overall earnings per share of S & P 500 companies increased by 11% year-on-year, well above the market consensus expectation of 4%. "This quarter recorded one of the most frequent earnings exceeding expectations in history," David Kostin, chief U.S. equity strategist at Goldman Sachs, wrote in the report. U.S. companies performed better than expected profit margins in the face of tariffs because they were able to negotiate with suppliers, adjust supply chains, cut costs, and pass on price increases to consumers. In addition, analysts significantly lowered their earnings forecasts in the spring due to Trump tariffs, making it easier for companies to "exceed expectations" with a low base. Goldman Sachs strategists said the weaker dollar also helped accelerate sales growth in the second quarter.