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Blockbuster first-quarter earnings were ‘as good as it gets’
|06/18/2017||Posted by BusinessMediaguide.Com under General World News||
Want evidence that first-quarter earnings season was a resounding and undeniable success? There are a bunch of choices.
First and foremost, US stock indices surged to record highs as corporate results streamed in. After all, profit expansion has historically been the biggest contributor to share price appreciation.
You also had 66% of companies beating estimates on an earnings-per-share (EPS) basis, and also 60% of companies exceeding sales forecasts, according to data compiled by Bank of America Merrill Lynch. Both marked 13-year highs.
Of course there’s also earnings growth of 14% on a year-over-year basis — 15% including buybacks — the best in five read more >>>