More than three-quarters of the largest U.S. companies reported higher revenue than before Covid-19, according to a Wall Street Journal analysis, indicating that many have adapted to changing business conditions caused by the pandemic.
Among the companies in the S&P 500, 213 have reported revenue for the calendar year’s second quarter above 2019 levels after a drop in 2020. Another 153 have had second-quarter revenue in each of the past two years that exceeded 2019.
Meanwhile, 101 companies remain below their 2019 figures, and 10 saw a drop this year after a rise last year.
The numbers are based on a Journal analysis of FactSet data for the 477 S&P 500 companies that have reported results for the second quarter through Friday.
Slower to recover
The consumer-services sector had the largest decline in second-quarter 2021 revenues from the same period of 2019. The charts below show percentage change in median second-quarter revenue since 2019, by sector.
