S&P 500 net profit margin hit 15.7% in Q2 2026, a post-2009 high per FactSet, driven largely by Alphabet's $112B net income quarter.

S&P 500 net profit margin hit 15.7% in Q2 2026, a post-2009 high per FactSet, driven largely by Alphabet's $112B net income quarter.

Alphabet juiced S&P 500 Q2 EPS growth by 12 points, but Carson Research warns a $98B paper gain is masking a decline in core operations.