Despite worries over the global economy, U.S. companies are faring well AFP/Getty ImagesFacebook grew its third-quarter revenue by 59% from a year earlier. The company’s stock is up 38% this year.Companies in the S&P 500 Index, despite concerns of a slowdown in global economic growth, are increasing revenue at twice the pace of the U.S. economy. As this is the first month without stimulus from the Federal Reserve, investors are naturally worried about how stocks will fare without help. While it’s impossible to predict the future, it’s reassuring to know that, for now, the largest companies in the U.S. are doing well. And investors ought to take that into account when reading about doomsday scenarios. Companies in the S&P 500 SPX, +0.31% have boosted revenue in their most recently reported quarter by 7% from a year earlier, according to data from FactSet. (The weighted average, based on market value, is growth of 8%.) That compares with an estimated annualized growth rate of 3.5% for U.S. gross domestic product during the third quarter. Economists polled FactSet expect a much slower GDP growth rate in the eurozone: 0.7%. China’s third-quarter GDP growth rate was 7.3%. The Wall Street Journal on Sunday quoted Laton Spahr, a portfolio manager at Oppenheimer Funds, as saying “the theme is anemic revenue growth.” Indeed, 136 S&P 500 companies reported declines from a year earlier, according to FactSet. Of 31 companies with revenue decreases of more than 10%, eight are in the energy sector, where plummeting oil prices have dented sales. A drop in commodity prices did the same for five companies in the materials sector. High-profile revenue losers in this earnings season include Procter & Gamble Co.PG, +0.36% whose sales dipped 2%, as CEO A.G. Lafley seeks to trim brands to focus on the “biggest opportunities.” Procter & Gamble on Oct. 24 announced it would sell its Duracell battery business, after unloading its U.S. pet-care business to Mars. Inc. in July. Another huge company reporting revenue softness was Coca-Cola Co.KO, +0.17% Then again, Coke’s sales per share grew 1% because stock buybacks reduced the average third-quarter diluted share count by 1%. Sales per share can be a very useful indicator, because it reflects any dilution from the issuance of stock to raise money for expansion or for executive compensation, while also baking in any buybacks. But it can also mask a problem, as it did for Coke. Here are the 10 S&P 500 companies with the biggest sales growth for their most recent period:CompanyIndustrySales - most recent fiscal quarter ($bil)Sales - year earlierSales growthIntercontinental Exchange Inc.Investment Banks/ Brokers$1.006$0.338198%Gilead Sciences Inc.Biotechnology$6.044$2.786117%Avago Technologies Ltd.Semiconductors$1.269$0.64497%Intuit Inc.Packaged Software$0.714$0.37889%Actavis PLCGeneric Pharmaceuticals$3.683$2.01383%Tenet Healthcare Corp.Hospital/ Nursing Management$4.179$2.40874%Essex Property Trust Inc.Real Estate Investment Trusts$0.270$0.15673%Devon Energy Corp.Oil and Gas Production$4.587$2.86160%Facebook Inc. Class AInternet Software/ Services$3.203$2.01659%PPL CorpElectric Utilities$3.449$2.17459%Source: FactSetThe most recently reported fiscal quarter ended on Sept. 30 for all of those companies, except for Avago Technologies Ltd. AVGO, +1.02% (Aug. 3) and Intuit Inc. INTU, +1.20% (July 31). Intercontinental Exchange Inc. ICE, +0.36% posted the largest revenue growth, 198%, because it acquired NYSE Euronext last November. The company kept the New York Stock Exchange but spun off Euronext in June. Gilead Sciences Inc.’s GILD, +0.54% revenue more than doubled on the strength of its Sovaldi hepatitis C medication, which has led the company to raise its sales and earnings outlook repeatedly. Here are total returns for the same group, along with forward price-to-earnings ratios based on consensus 2015 and 2016 earnings-per-share estimates:CompanyTotal return - YTDTotal return - 3 yearsForward P/E - 2015Forward P/E - 2016Intercontinental Exchange Inc.-2%77%23.118.5Gilead Sciences Inc.42%418%13.510.8Avago Technologies Ltd.63%160%18.313.4Intuit Inc.18%72%35.823.9Actavis PLC46%276%18.214.9Tenet Healthcare Corp.14%141%30.217.8Essex Property Trust Inc. *43%59%21.619.8Devon Energy Corp.6%3%12.311.7Facebook Inc. Class A38%N/A44.939.3PPL Corp25%41%15.416.0Total returns assume the reinvestment of dividends. Source: FactSet For Essex Property Trust Inc. ESS, +1.17% the forward P/E ratios are based on estimates for funds from operations (FFO), not earnings per share. FFO is considered more useful for REITs than EPS because of the importance of cash flow from operations. Those total returns compare with a year-to-date return of 12% and a three-year return of 72% for the S&P 500 Index. Don’t consider these rapid-revenue growers to be part of a “buy” list. Read up on what the companies have been doing and come to your own conclusions. If you work for a company offering a 401(k) or other tax-deferred retirement savings plan, chances are you can select an S&P 500 Index fund as part of your investment allocation. This can not only help you “stay ahead” of the U.S. economy’s growth rate over the long haul, it can enhance your returns because of much lower fund-management fees. Philip van Doorn