Earnings Season So Far
Friday, April 16, 2010 at 06:17PM Thirty-seven US companies have reported earnings so far this season, and 27 (73%) of them have beaten earnings estimates. The average one-day change for these companies on their report days has been -0.36%. This number was positive until Friday when the majority of companies that reported traded lower. Below is a table of the 37 companies that have released numbers so far. The biggest companies to report this week are highlighted in yellow. Alcoa (AA) kicked off earnings season with a weak report as usual. Intel (INTC) and JP Morgan (JPM) had strong numbers and traded higher following their reports mid-week, and then Google (GOOG), Bank of America (BAC), and General Electric (GE) finished the week on a sour note.
Market participants will remember that earnings numbers were coming in very strong at the start of the last earnings season, but external factors such as Greece and the proposed bank tax out of DC caused the market to sell-off throughout most of the reporting period. This earnings season started off strong as well, but then along comes the SEC and Goldman. We'll see what happens next week.
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Reader Comments (1)
It's still early in the game but it comes as no surprise that revenue misses (7) are outpacing earnings misses (5). Notwithstanding the global inventory correction, I do not think final demand is firmly in place and revenues are harder to "manage" than other P&L line items.
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