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Tuesday, July 21, 2009

Q2 2009 Earnings Results Continue to Impress

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.


  1. Isn't there still some cause for concern for a slow or a jobless recovery? Unfortunately, many earnings were based on cost cutting and no real revenue growth. Let's take CSX for example. Their business declined 25% but they beat analyist expectations through cost cutting. Apple is an exception though.

  2. Yes revenue growth is important... but during earnings season all eyes are on profits. Wednesday was yet another day of great earnings.

    For the first several quarters of a turnaround it is difficult to gage strength on y/y revenue percentages like CSX. Go have a look at the q over q revenue declines and you will note that CSX is now likely returning to revenue growth. Q1 over Q2 decline was 3% along with the good news of their net.

    Also for the firms reporting good earnings today, over 35 also showed y/y revenue growth as well. I haven't taken the time to check q over q revenue for all of them, but it is likely that many are now seeing even q over q revenue numbers or better.



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