ClarkKent takes on everyone - and triumphs - AGAIN!
The legendary ClarkKent does not do post to lightbuld ratios.
He does stockmarket.
Look at this my esteemed and inexperienced friends:
Corporate profits in the United States rose by 1.6% from the previous quarter to $2.367 trillion in the second quarter of 2023, surprising markets that expected a 5.9% decline, and rebounding from a 5.9% drop in the previous three-month period.
Forecast: -5%
Consensus: -5.9%
Previous: -5.9%
Actual: +1.6%
But old mate Clarky wasn't surprised my esteemed friends.
Because only 24 hours ago, the Clarkster spoke thus:
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Post #: 69600882
The Verdict
In summary, these 1200 companies in aggregate
Beat QoQ, Q1-2023 earnings by +0.3%
Beat QoQ, Q1-2023 revenue by 2.5%
Clearly this reporting season was much better than expected, and consistent with other economic indicators suggesting that the US economy has been stronger than expected.
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