By Dirk van Dijk
The first quarter earnings season is off to a strong start. We now have 147 (29.4%) of S&P 500 reports in. That actually understates things a bit, since the firms that have already reported are larger and more profitable than average and represent 43.0% of the total expected earnings for the quarter. It will pick up steam this week, when 181 members of the S&P 500 are due to report.
We have enough of a sample now to be pretty sure this will be a good earnings season. So far, we have income growth of 17.2%. While that is down from the extremely strong 38.8% those same 147 firms posted in the fourth quarter, it is still a very strong growth rate. Almost all of the growth slowdown is from a failure of the Financial sector to repeat the massive growth they posted in the fourth
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KEY JDS UNIPHASE JDA SOFTWARE GROUP JACK HENRY and ASSOCIATES IXYS
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