Of the 72 public companies followed by Briefing.com on Tuesday, only 9 stocks missed their earnings estimates. That follows an extremely positive market performance on Monday when only 3 of 30 firms missed their number.
Of the 59 issues that beat their estimates Tuesday, they beat them handily. Those companies provided surprise after surprise to the upside -- averaging $.10 per share better earnings than consensus projections.
Of particular note, Apple (APPL) blew past analysts forecasts of only $1.17 per share. The iPhone and Mac maker, posted an extremely impressive $1.35 per share earnings or a net profit of $1.23B in Q2. Apple joined IBM (IBM) and Intel (INTC) in setting expectations for Q3 2009 GDP growth that will be anything but lackluster.
When all you read is gloom, turn here for a much different perspective.