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Q3 Earnings In One Chart
A shockingly low 30% of S&P 500 firms beat revenue expectations in the prior quarter and while Bloomberg's data suggests around 65% beat earnings expectations, the in-period adjustment of expectations (analysts ratcheting down earnings as the season progresses) naturally biases this to look rosier. The critical question is - how much more fat is there to cut? With Sales (and outlooks) so weak, how many more jobs need to be cut to meet margin expectations? 2013 top- and bottom-line (+13.6% EPS growth) expectations remain magnificent in their optimism - do you believe in miracles?
Chart: Bloomberg Chart of the Day
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Missed it by jiiiiiist that much.
No worries....our sucky rewly re-elected President with save us.....we hope.
Do not knock them. We got to multiyear highs on these earnings. They can only get better from here.
They can only get better from here.
Ummmm......sure.
Wonder why nearly every Wall Street economist is predicting a major pick up in 2H 2013? Think of the YOY percentage gains in Q3 2013 for rev/EPS.
the whole economy is one giant miracle.
Hopium dream.
Why are you so stupid?
Can't you see the writing on the wall?
Of course they will beat the next time, they will just lower the bar even further to make it easy to 'beat'
But relate earnings to the market... a nice 2 month ski slope.
this bullshit rally is a gift to anyone trying to raise cash
well...that explains the fullretard 20+ ES ramp now doesn't it?
When companies cut back on capital investment (equipment, R&D etc) as they are now doing they're no longer cutting the fat, but rather the meat and soon the bone.
<But never will executive deferred compensation, stock options and pensions be cut because.....well, you know. Useless workers/eaters go first.>
That's where the 23 million newly unemployed show up. Or in this case don't show up
Jobs? Who needs jobs?
Sales? Who needs sales?
This recovery is just amazing, no problems in sight.
Fundamentals rendered useless with the Fed pumping money.
Logic like analysis from real, factual data doesn't work in Bernanke's world.
Bears = Charlie Brown
Bernanke = Lucy
Football = Bear Profits
Bulls = fat little kid
Bernanke = Willy Wonka
Chocalate Death Candy = Fed Reserve and private Debt
The wonder of Bernanke and the Federal Reserve's debt saturation. Max-out credit junkies are having problems spending any more.
Soon we'll be able to eat financial engineering.
Soon the market will require nothing more than another round of printing, like Japan. One printing a month, every month, to keep the market afloat another day.
are they consuming our seed corn or burning it?
Well, they are consuming seed, but not orally...and not corn seed...