Quick ReadThe S&P 500 is on pace for its 10th straight quarter of earnings growth, with 86% of companies beating EPS estimates. Alphabet's 93.6% margin, inflated by unrealized SpaceX gains, single-handedly pushes the S&P 500's blended margin from 14.4% to a record 15.7%. The top 10 S&P 500 companies now generate 34% of all index profits, roughly double their share from the mid-1990s. Roman Samborskyi / Shutterstock.comThat combination is helping the S&P 500 march toward another earnings milestone. Earnings Season Is Showing AI's Profit Engine Is Still RunningWith roughly 27% of S&P 500 companies having reported second-quarter results, the early scorecard has been difficult to ignore.