Goblin, I think you are missing the point, people dont buy into...

Goblin, I think you are missing the point, people dont buy into stocks for their current earnings, but rather their future potential!!!

Its irrelevant what their earnings will be today when a company has an exciting future regarding earnings potential.

How many times have I seen xyz report seemingly good earnings and then the share market punishes them, thats because most likely xyz's earnings will be lower in the future. So what matters more is future earnings rather than current earnings.

The stock market is forward thinking and its hardly coincidental that car sales has 19.9% stake in ICQ.

You have to ask yourself why they want a stake in ICQ?
For starters ICQ has a market more than 10 times the size of Australia, ICQ has nearly double the listed cars for sale than CRZ.

Also look at SEK's acquisition the other day, they acquired a Singapore based online employment business co for $580m, Australian companies know that they have to go offshore to grow their companies because the Australian market is limited.

To be honest im more interested in who wants ICQ rather than earnings at this stage of the game. IMO anyone that wants expansion to their business would be interested in ICQ.

DYOR