As of November 23rd, Standard and Poor's current operating earnings estimates for the S&P 500 across the next four quarters (4th quarter 2010 through 3rd quarter 2011) are 90.99.
For the four quarters, 4th quarter 2009 through 3rd quarter 2010 (with 99% of earnings reported for the last quarter), operating earnings were 78.87.
Expected year-ahead earnings growth: 15.4%
The current operating earnings report showed an increase of 99% from the previous year's operating earnings, but that included the fourth quarter of 2008, where operating earnings were a horrendous -0.09.
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