With earnings season wrapping up, is high time to take a look at how this quarter stacks up against prior Qs:
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Click to enlarge:
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Source: Bianco Research L.L.C. November 10, 2011
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
The best way to keep money in perspective is to have some. —Louis Rukeyser
"It's the end of the world as we know it and I feel fine" say the French as consumer confidence in May rose to the highest since Nov '10 as they welcome and get excited about new Pres Hollande. Also, the French 10 yr bond yield touched the lowest on record this morning. June consumer confidence in Germany held at 5.7, just .2 pts off the highest since Mar '11. To the euro bond debate which is now taking on greater rhetoric with those with high bond yields wanting them and those with low ones saying no way, ECB member...
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November 11th, 2011 at 12:18 pm
Earning doing a better job of keeping up than revenue. Is that due to creative accounting or are they actually getting better at milking earnings out of revenue.
November 11th, 2011 at 12:48 pm
You can squeeze earnings numbers out of decreasing revenues for a quarter or so, but eventually those decreasing revenues will impact the bottom line…
November 11th, 2011 at 1:47 pm
[...] 3Q earnings could have been better. (Big Picture) [...]
November 11th, 2011 at 3:03 pm
At least half of all S&P companies have beaten their earnings expectations every quarter since the dotcom crash. If an alarm is set to never go off, then why have it? That the S&P lost about 33 pct of its value in Q408, while almost 60 pct beat earnings tells you how valuable this metric has become.
November 11th, 2011 at 3:34 pm
Remarkable that even during the steep stock market decline in ’08/’09, a majority of still beat earnings expectations while falling far short of revenue expectations.
A cynical person would think that this perhaps shows that publicly-traded companies have become experts at managing earnings expectations so they could get numbers which they could beat. An even more cynical person would have questions about the earnings they reported. To paraphrase Dogbert when he was talking about how companies can assume whatever returns they want to assume for their pension plan’s future performance, “That way we’re not crooks, just optimists.”
November 11th, 2011 at 3:56 pm
[...] – No major earnings this week (same as last week, no one cares considering troubles in Europe) (Big Picture) – New paper on tactical asset allocation from Mebane Faber (SSRN) – Happy Veterans [...]