Posted on 04/29/2019 1:35:21 PM PDT by abb
What earnings recession?
Heading into the current first-quarter reporting season, earnings for S&P 500 (^GSPC) companies were expected to fall 3.9% year-over-year, the first quarterly decline since 2016, according to FactSet.
But with 46% of S&P 500 companies having reported first-quarter results as of Friday, earnings are expected to decline only 2.3% year-over-year. Plus 77% of companies that have reported so far this season have topped their earnings estimates, according to FactSet.
“Despite fears of an outright ‘earnings recession’ (two quarters of negative year-over-year earnings), actual results have exceeded consensus estimates by 4.3% thus far, well above the historical average beat rate of 3%,” wrote UBS analysts in a note to clients Monday. “Huge beats from mega-cap tech-related companies [Amazon (AMZN), Facebook (FB), Microsoft (MSFT)] have been the key positive drivers.”
snip
(Excerpt) Read more at finance.yahoo.com ...
Drink up !
If The Fed had not raised interest I bet this might have been closer to 5 or 6 percent.
DRINK!!!!!!!!!!!!!!!!!
Yep...
The plan worked.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.