U.S. ‘Snapback’ Helps Apple to 3M Exceed Earnings Estimates

U.S. companies from Apple Inc. to 3M Co. are surpassing earnings estimates at the highest rate in two years as economic growth at home helps drive demand and counter a drag from Europe.

Profit has outpaced forecasts for 82 percent of Standard & Poor’s 500 Index companies that have reported in the earnings cycle, which if it holds would be the highest rate since 2010’s first quarter. The 12 percent average jump before today topped the 0.6 percent gain analysts projected as the bulk of reporting began April 10, according to data compiled by Bloomberg.