In One Chart: This chart shows why earnings may have finally reached their bottom

With the bulk of the earnings season now over, the second quarter of 2016 marks the seventh consecutive quarter of falling earnings — but investors are now turning their focus to the future.

“Recent client conversations revealed that some investors believe the current string of quarterly [earnings-per-share] declines is now behind us,” said Goldman Sachs’ global investment research team in a report released late Friday.

What’s more, the team of analysts projected that EPS growth in the third quarter may be positive for the first time in nearly two years.

On Monday, aggregate second-quarter earnings represented a decline of 2.1% year-over-year, with 91% of companies on the S&P 500 SPX, +0.28% having reported, according to S&P Global Intelligence.

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