While much is being made of earnings miss by YHOO and GOOG, the actual earning picture is very good for this quarter as this Zacks.com analysis shows.
The fourth quarter earnings season is almost halfway over. So far, 225 S&P 500 firms have reported. Despite some high profile misses, so far the results look pretty strong. Positive surprises have out numbered disappointments 135-42, with 49 hitting expectations exactly. The median growth rate of the firms that have reported is 14.2%. If this pace is maintained, it would mark the 15th straight quarter of double-digit earnings growth for the S&P 500. With 45% of the precincts in, we are prepared to make a call on this “election”. This was a good quarter for corporate earnings growth. With better than a three to one ratio of positive surprises over disappointments, it looks like it is shaping up as a landslide.
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